NEWS

Zagreb, 28 May 2014 - The Foreign Investors Council in Croatia organized a round table on the topic "First half time". The round table was led by President of the Foreign Investors Council in Croatia Mr. Mladen Fogec along with FIC members Mr. Viktor Pavlinić, a member of the Board of Tele2, Mr. Goran Šaravanja, Chief Economist of INA and Mr. Harun Omerbašić, advisor for foreign investment to Mayor Milan Bandić.

From the White Book issued in November 2013 where there were identified five major areas of investment barriers: legal uncertainty, tax uncertainty, non-tax levies, public administration/judiciary, labor law, there has been almost no progress, even in the two budget revisions exacerbated the business climate by raising excise taxes and concessions for several sectors (energy, telecommunications) which will adversely affect the business climate.

During the roundtable, Mr. Mladen Fogec, president of the Foreign Investors Council noted that the current Labour Law is old-fashioned and does not fit the needs of employers and that employers gave their suggestions to the Minister of Labour Mr. Mirando Mrsić for which they hope he will take into account their suggestions and give in under union pressure. Board member of Tele 2 Mr. Viktor Pavlinić referred to the Government levies on the telecommunications sector.

Positive indications are that local communities such as the City of Zagreb and Međimurje recognize the value of investments bring and therefore are responsive to investors .

FIC continues to work on the White Book of 2014 which will be released by the end of the year, direct advocacy, press releases and analysis, conduct regulatory impact assessments, and in the last couple of months (after being identified by the European Commission as a valuable counterpart) strong activities to improve the business climate in Croatia.