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President says Croatia stands at crossroads

Autor: mses
ZAGREB, Sept 13 (Hina) - With its forthcoming admission to the European Union and elections, Croatia is at a crossroads, which is an opportunity for the current or the new government to turn a new page in the economy, President Ivo Josipovic said on Tuesday in Zagreb after a business lunch held by the American Chamber of Commerce (AmCham) in Croatia.

"We are today at a crossroads to turn a new page, and whatever government is in power after the elections, stands a chance. I hope that we will seize the chance," Josipovic told reporters.

He said that his optimism was based on a new ambitious generation of business people and the improved role of the state as a moderator and business actor on the market.

"I deem that the key does not lie only with financial incentives but also in the state's role of regulator to simplify things and be friendly towards those who want to invest in Croatia and towards domestic business people," the president said.

The AmCham Executive Lunch in the Sheraton Hotel drew about 100 Croatian and U.S. business people, members of the AmCham, several ambassadors and diplomats including U.S. Ambassador to Croatia James Foley.

Addressing the event, Josipovic said that the situation in Croatia could be viewed as a state of crisis, high unemployment and sluggish economic recovery, but the country also reported a growth, a successful tourist season and growing coverage of imports by exports.

However, Croatia needs direct investments which he said tumbled by 20 times from 2008, when direct investments totalled EUR 4 billion, to EUR 200 million this year.

According to some estimates, Croatia's recovery requires investments between three and four billion euros, he added.

Speaking about achievements, Josipovic highlighted de-politicisation of law enforcement, reduction of backlog court cases and clamp-down on corruption in which he said there were no untouchables any longer.

Speaking of cooperation with the United States, Josipovic said that alongside the EU, the USA was the most important Croatian political partner and expressed optimism about the intensified interest of US business people in economic relations with Croatia.

(Hina) ms

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