Looser Criteria for Croatian Investment Encouragement Coming

June the 22nd, 2024 – Looser criteria for Croatian investment encouragement is hopefully now firmly on the horizon, with the Economy Ministry hard at work making much needed changes happen.

As Josipa Ban/Poslovni Dnevnik writes, the Economy Ministry is changing the criteria and conditions for Croatian investment encouragement. Speaking more specifically, they are altering the criteria businesses must meet in order to receive support for their investments.

According to the proposal of the Law on Amendments to the Law on Investment Promotion, which the competent ministry sent for public consultation, six novelties are set to arrive.

Among the proposed changes, perhaps the most important are those concerning the increase in the amount of adjusted support for investments of more than 50 million euros. There’s also the introduction of a brand new form of support – those for activities of strategic importance for the transition to a climate-neutral economy.

4.2 million euros set aside for implementation

The Economy Ministry is currently planning to invest 4.2 million euros in the implementation of the amended law on investment promotion this year alone. Citizens and interested groups will only be able to submit proposals for this document for two weeks, that is, until July the 4th, 2024.

EU harmonisation – finally

Currently, there are no comments on this important regulation, on the basis of which, in the last 11 years (from 2012 to the end of 2023), investments in the amount of around 10.6 billion euros have been realised (with some still yet to be). In addition, the aforementioned ministry has approved and is processing 1,631 projects thanks to which almost 43,000 new jobs should be created.

The proposal which would make Croatian investment conditions looser has been submitted for public consultation and suggests that changes to the law be made as a matter of urgency. The obligation to comply with the legal acquis of the European Union is cited as an argument for that.

 

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