Strategic investment projects law adopted

Zagreb - The Croatian parliament on Friday passed a law on strategic investment projects which is expected to create prerequisites for launching investments and expediting the issue of documents required for public and private projects of strategic interest.

The law envisages criteria for defining strategic investments, managing state property, granting concessions, investors' obligations and their execution, and administrative bodies' obligations. All investments exceeding HRK 150 million which meet some of the 12 requirements defined in the law will be awarded strategic investment status and the right to expedited procedure. Projects realised in areas of special state concern and on the islands exceeding HRK 20 million will also be considered as strategic, as will projects in agriculture and fisheries with capital costs exceeding HRK 20 million.

Parliament also adopted a strategy for the development of entrepreneurship until 2020 and amended the law on pension insurance. Amendments to the law on criminal procedure were sent into a second reading. Reports on the work of the ombudspersons on the disabled and gender equality were unanimously endorsed. Parliament appointed Neven Barbarosa central bank vice governor. The session will resume on Monday. (Hina)