Conference held on EU, Third World investment prospects

(Hina) - Croatian private entrepreneurs set to make investments in developing countries in Europe or in the Third World can count on schemes defined by the European Commission to boost those investments, it was said a conference in Zagreb on Friday

(Hina) - Croatian private entrepreneurs set to make investments in developing countries in Europe or in the Third World can count on schemes defined by the European Commission to boost those investments, it was said a conference in Zagreb on Friday.

At the conference organised by the Croatian Employers' Association, the Foreign Ministry, and the EC Representation to Croatia, European Commissioner for International Cooperation & Development, Neven Mimica, said that Croatian entrepreneurs should be provided concrete  information on possibilities and models for investments with the support from the European Fund for Strategic Investment (EFSI) and the European Fund for Sustainable Development (EFSD), intended to back investment in EU partner countries, in Africa and the European Neighbourhood.

"We would like to show how these funds can be utilised," Mimica said, adding that the Croatian private sector can be a beneficiary of those funds.

According to Mimica, EFSI can amount to 500 billion euros until 2020, and the fund for foreign investments can activate at least 90 billion euros.

Mimica called on Croatian private businesses to be engaged in projects in the energy sector, agriculture and food production, construction, pharmaceuticals, textile and timber industries in developing countries.

The above mentioned funds and assistance from the EU should dispel fears of investment risks, he added.

Foreign Minister Davor Ivo Stier said that in 2011, Croatia's official development aid came to 120 million kuna, and it rose to 400 million kuna in 2014. Of this amount, 30% was earmarked as assistance to Bosnia and Herzegovina, Stier said, adding that this neighbour will remain in the focus of Zagreb's development assistance.

The foreign minister recalled that Croatia shared with Ukraine its experience and know-how in the accommodation of refugees and was also active in Colombia and Jordan in the transfer of knowledge for the development of anti-mine systems. Croatia has participated in the development of a system for protection of mothers and children in Afghanistan and Morocco and the Palestinian Authority.

Press releases