Members announced the upcoming Direct foreign investment international conference and planned investments
Mladen Fogec, CEO of Siemens Croatia was reelected as the President of the Foreign Investors Council at the Election Assembly, with a mandate until 2018, the Council announced on March 4, 2016. Mladen Fogec will continue to lead the Council in their agenda of improving the investment climate in Croatia, strengthening cooperation with state bodies, business associations operating in the country and creating closer ties among existing investors and those who are yet to come to the Croatian market.
New Vice-Presidents of the Council are Zoltán Áldott, President of the Management Board of INA and Viktor Pavlinić, Board Member and Chief Financial Officer of Tele2. Council also elected two new members of the Board of Directors; Michael Georg Müller, Chairman of the Management Board of Raiffeisenbank Austria and Marijana Bubalo, Director of Corporate Affairs at Philip Morris Zagreb. New members of the Council were also presented at the Assembly, and they include Raiffeisenbank Austria, Triglav insurance, SGS Adriatica, TMF Croatia, PricewaterhouseCoopers and KPMG Croatia.
The work of the Council in the past year was presented by the Secretary-General Igor Zgrabljić who also announced that an international conference on foreign direct investment will be held in June this year in cooperation with the Embassies of the most competitive countries in the world, with the aim of presenting the world’s best practices in the policy development for attracting foreign direct investment.
During the assembly, members discussed their plans for investments, one standing out is INA’s planned investment heavy residues processing plant in the Rijeka Refinery, an investment estimated at $400 million. This investment would be one of the largest in the history of Croatia as well as INA’s largest investment of INA to this date, and whose implementation will largely depend on the strategic partnership with the Croatian Government, stable and predictable regulatory framework and the efficiency of state administration.
