SYMPOSIUM ON FUTURE OF CROATIA'S FREE ZONES STARTS IN RIJEKA

RIJEKA, June 23 (Hina) - A-two-day long symposium on the future of free zones in Croatia started in the northern Adriatic town of Rijeka on Wednesday. The symposium was organised by Rijeka's Project Management Consulting (PMC) and the Association of the Croatian Free Zone. Free zones did not fulfil expectations regarding the attraction of foreign investments in Croatia and new job openings, it was concluded at the symposium. During the past five years, over US$7.6 million were invested in Croatian free zones. In 1999, foreign investments amounted to about US$14 million. According to Croatian Assistant Economy Minister Zdravko Frleta, there are job openings for 200 persons available in nine Croatian free zones, currently employing 1,970 persons. Croatian free zones users, who are to invest more than US$139,000 in buildings infrastructure in free zones, will be exempt from paying profit taxes, director of the PMC Miran Cofek said. Symposium participants pointed to the insufficiency of tax and customs regulations for business transactions in free zones and the issue of exemption from paying the Value Added Tax (VAT) on utility services in free zones. A discussion between free zones users and representatives of the state administration is scheduled for later this afternoon. Visits to Rijeka, Kopar and Trieste free zones are scheduled for tomorrow. (hina) it