Foreign Investors Complaining about Business Climate in Croatia

Total Croatia News

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ZAGREB, November 20, 2018 – The head of the Foreign Investors Council, Mladen Fogec, said on Tuesday that the recommendations made by that association were not being implemented and that this year the association wouldn’t publish its “White Book” as it made no sense when nothing was implemented. Addressing a conference organised by the Zagreb Initiative and Konrad Adenauer Foundation – Economic Situation and Reform Processes – Croatia and its Surroundings, Fogec warned that reforms were constantly being talked about in Croatia, however, he considers that changes to the business climate in Croatia won’t occur soon.

He said that this year, investors had decided not to issue their White Book because it made no sense constantly repeating themselves. “We published it five, six years in a row, repeating the same things each time. Our recommendations are the same and there is no point in repeating them,” he said and added that when things start to change and at least some of the recommendations are accepted, they would once again release a new publication.

He announced that instead of publishing the White Book, they would organise an event that will try and analyse what Croatia has lost, due to not attracting foreign investments, or rather the opportunities it has missed.

Assistant Economy Minister Zvonimir Novak believes that Croatia needs investments into technology that will lead to innovations, better cooperation between the real sector and science organisations, more investments made by the private sector in research and development and more innovative products and services.

Investments aren’t numbers in the balance sheet. They are investments into economic security, Novak said and added that an economy that is responding to the future has to be driven by the know-how and innovation.

In addition to ICT as a resource, innovation is what almost all economic sectors will have to rely on if they wish to survive on demanding global markets, Novak said, adding that that is why research and development projects are essential.

He underscored the importance of digitisation and said that it was necessary to build a productive economy that is innovative, competitive and stable, while growing sustainably.

For more on business in Croatia, click here.


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