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Merten: Private investment to be very important after Croatia joins EU

ZAGREB, Feb 27 (Hina) - With Croatia's upcoming European Union accession, private investments will be especially significant in the next 18 months and Croatia should double its efforts so that investors could recognise it as a transparent and profitable place for business and employment, US Ambassador Kenneth Merten said on Wednesday.

He was addressing about 140 figures from Croatia's economy and politics at a traditional lunch of the American Chamber of Commerce in Croatia. Among the guests was Parliament Speaker Josip Leko with associates.

Merten underlined the importance of foreign investment for the US economy, saying the US was the number one country in the world in terms of total direct investments by foreign companies.

Croatia should therefore put investments at the top of its priorities upon joining the EU, and the Croatian government has recognised this though the efforts it invests in seeking various legislative solutions to facilitate investments and job creation, said Merten.

He praised some government moves, such as the formation of a task force for the business climate and private investments as well as the renewed interest in helping foreign investors remove the obstacles they face in project implementation in Croatia. He said, however, there was still a lot of work to be done and that Croatia should double its efforts to be recognised abroad as a good place for business.

The ambassador also commented on the anti-enterprise climate in Croatia, where citizens see foreign companies only as someone who would come to make money from them. He said this was not uncommon, as during the 19th century Americans were suspicious of foreign investors and complained that the state was being sold to the state (Great Britain) which they had defeated in the struggle for independence.

That changed in America a long time ago and Croatia should accept the same reality and see foreign investors as a big opportunity to employ many people and improve living standards, said Merten.

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