FOREIGNERS INVESTED 873 MILLION IN CROATIA LAST YEAR

ZAGREB, July 21 (Hina) - Direct foreign investments in Croatia from 1993 to the end of 1998 amounted to 2.2 billion US dollars. In 1998, foreign investors gave $873 million, or twice more than in 1997, according to preliminary figures issued by the Croatian National Bank in its 1998 annual report forwarded to the Croatian National Sabor. Since 1996 foreign investments have been intensified, the Central Bank added. Most of investments came from the United States. In the past five years, Americans invested $871.7 million, which made up 40 percent of total foreign investments. The United States is followed by Austria which invested $546 million, and the European Bank for Reconstruction and Development (EBRD) is on the third place with $95 million. The EBRD is followed by Switzerland which invested $94.5 million in Croatian over past five years. The sixth place of investors is occupied by Germany with 68 million dollars and Italy invested 37.8 million during the same period. From 1993 to the end of 1998, foreign financial investments totalled 1.67 billion dollars. Even 43 percent of that amount (or $717 million) went for the pharmaceutical industry. as the Pliva company began to quote its shares on the London Stock Exchange in 1996. About 14.5 percent of the amount of financial investments (or 242.2 million) referred to other money dealings and is connected with the quotation of shares of the Zagrebacka bank on the London Stock Exchange and foreign participation in the privatisation of Croatian banks. (hina) ms