Croatia adopts investment law to boost economy
Foreigners planning strategic investments in Croatia will be able to get licenses faster and more easily under a law adopted on Thursday, the government said, as the former Yugoslav republic prepares to become the EU’s newest member. For years, bureaucratic obstacles have stifled the business climate and kept foreign investors away. The Social Democrat-led government, which will take Croatia into the EU on July 1, wants to boost the economy after four straight years of recession. Foreign Direct Investment has plummeted after hitting a record of more than €4 billion in 2008. “This law... will speed up the procedures for obtaining licenses, which will not exceed 30 days. It will also be possible to penalize (state) institutions if they fail to respect the deadlines,” Deputy Prime Minister Branko Grcic told a Cabinet meeting.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.