The government on Thursday sent a bill on strategic investments into a second reading in the parliament with the aim of facilitating investments by making the state administration more expeditious in dealing with applied projects.
Under the draft legislation, a project which is deemed to be strategically important can kick off only if it is congruent with the relevant zoning documentation, and officials of local authorities will be engaged in deciding on whether an applied project may be considered strategic.
Thus, county prefects and mayors of local areas where investments are to be implemented will be engaged in the decision-making process.
The bill also defines the responsibility of state administration personnel for promptness in the procedure.
It also determines that investments over 150 million kuna or projects eligible for funding from the European Union will be considered of strategic importance.
The pecuniary criterion for areas of special state concern and islands is lowered to HRK 20 million.
Economy Minister said after the government's session that the future law would not solve the entire economic situation but "it might be an element that will accelerate investments" and help improve the image of Croatia among potential investors.
He expressed confidence that the law would also enhance Croatia's investment climate.
(Hina) ms
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