ZAGREB, June 12 (Hina) - Croatia has a very liberal law on bankruptcy, corruption is diminishing, and existing obstacles for foreign investments are not discouraging for serious strategic investors, Croatian President Stipe Mesic said
in his speech at the Intercontinental Hotel in Zagreb today. By joining the World Trade Organisation (WTO) and initialling the Stabilisation and Association Agreement with the European Union, Croatia has taken on international standards about "equal treatment of foreign entrepreneurs" and a "comprehensive liberalisation of its national economy", Mesic said as a guest-speaker during a lunch organised by the American chamber of commerce. "Non-residential foreign companies and persons are ensured a completely free movement of capital into and out of the country," Mesic said. He commented on a study on administrative obstacles for foreign investments a specialised World Bank agency dre
ZAGREB, June 12 (Hina) - Croatia has a very liberal law on
bankruptcy, corruption is diminishing, and existing obstacles for
foreign investments are not discouraging for serious strategic
investors, Croatian President Stipe Mesic said in his speech at the
Intercontinental Hotel in Zagreb today.
By joining the World Trade Organisation (WTO) and initialling the
Stabilisation and Association Agreement with the European Union,
Croatia has taken on international standards about "equal
treatment of foreign entrepreneurs" and a "comprehensive
liberalisation of its national economy", Mesic said as a guest-
speaker during a lunch organised by the American chamber of
commerce.
"Non-residential foreign companies and persons are ensured a
completely free movement of capital into and out of the country,"
Mesic said.
He commented on a study on administrative obstacles for foreign
investments a specialised World Bank agency drew up.
The conclusions of the study indicate that obstacles in the
registration of a company, initiating business activities,
locating and obtaining licenses, land and solving utility issues,
"are not insignificant", but are removable.
"This confirms (my) stance that the level of obstacles for
investments is not as intense as to be discouraging for serious
strategic investors," Mesic stressed.
No obstacles exist in the field of the foreign exchange system and
financial transfer, he said, and illustrated the current situation
in the area of foreign investments with data according to which 800
million dollars worth of investments made its way to Croatia in
2000. This places the country in fifth place among eight
transitional countries of East and Central Europe.
Croatia, however, still does not have any reason for satisfaction,
Mesic holds.
The government has drawn up priority directions, and some are to
direct investments into the production sector of middle and small-
scale businesses, and amend the law for issuing various licenses
(visas, working permits, etc.) so the company registration process
could be completed by 30 days at the most.
Mesic said he would like to convince members of the US chamber of
commerce that the Croatian government "unconditionally supports
all activities stimulating foreign investments".
To this aim, Mesic spurred the government to establish a special
state agency which would "encourage and facilitate direct foreign
investments".
(hina) lml sb