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CROATIAN CHAMBER OF ECONOMY. CROATIA BUSINESS AND INVESTMENT OPPORTUNITIES Argentine-Croatian Business Forum Buenos Aires, November 2006. CONTENT. ECONOMIC SITUATION PERSPECTIVES GDP STRUCTURE AND SECTORS EXTERNAL RELATIONS (FOREIGN TRADE AND INVESTMENT) BILATERAL COOPERATION/

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CROATIAN CHAMBER OF ECONOMY

CROATIA

BUSINESS AND INVESTMENT

OPPORTUNITIES

Argentine-Croatian Business Forum

Buenos Aires, November 2006

CROATIAN CHAMBER OF ECONOMY


Content
CONTENT

  • ECONOMIC SITUATION

  • PERSPECTIVES

  • GDP STRUCTURE AND SECTORS

  • EXTERNAL RELATIONS

    (FOREIGN TRADE AND INVESTMENT)

  • BILATERAL COOPERATION/

    PRESENT AND PERSPECTIVES

CROATIAN CHAMBER OF ECONOMY


GEOGRAPHIC PROFILE

  • Area 56,538 km2

  • Population 4.4 mil

  • Coastline 1,778 km

  • Islands 1,185

  • Capital City Zagreb

CENTRAL EUROPEAN COUNTRIES

EUROPE

CROATIA

MEDITERRANEAN SEA

CROATIAN CHAMBER OF ECONOMY


ECONOMIC PROFILE(2005)

  • Gross Domestic Product (bn USD) 38.5

  • GDP per capita 8,677 USD

  • GDP, real growth rate 4.3 %

  • international reserves(CNB) 8,801 mil USD

  • average net salary 736 USD

  • inflation 3.3 %

  • industrial output growth 5.1 %

  • unemployment rate 13.1 % (ILO)

  • long term credit rating:BBB, Baa3 (Standard&Poors, Moody’s)

CROATIAN CHAMBER OF ECONOMY


The government s priorities
THE GOVERNMENT’SPRIORITIES

Achievements:

  • macroeconomic stability (inflation, exchange rates)

  • moderate growth

  • economic enviroment (HITRO HR)

  • government deficit

    Improvements needed:

  • external debt

  • current account deficit

  • unemployment

  • restructuring (shipyards, iron plants, railways)

  • reforms (health, public administration, justice, fiscal system)

  • EXPORTS

CROATIAN CHAMBER OF ECONOMY


GDP STRUCTURE

CROATIAN CHAMBER OF ECONOMY


Industry sector
INDUSTRY SECTOR

  • 20% of GDP

  • 25% of total employment

  • main industrial branches:

    - food and beverages production

    - electricity, gas and water supply

    - chemicals and chemical products

    - refined petroleum products

    - machinery

    - plastic and rubber products

    - shipbuilding (strongly export-oriented)

CROATIAN CHAMBER OF ECONOMY


Tourism
TOURISM

  • revenues: 8 bn USD

    19% of GDP

  • 10 mil tourists

  • 51 mil overnight stays

  • nautical tourism (47 marinas)

  • 1,185 islands

  • 8 national parks

  • world cultural and natural

    heritage sites protected by UNESCO

CROATIAN CHAMBER OF ECONOMY


Agriculture and food industry
AGRICULTURE AND FOOD INDUSTRY

  • 6% of GDP

  • 7% of total employment

  • wide range of products (fish, cattle,

    cereals, wine, olives, sugar beet etc.)

  • 82% of cultivated land - privately owned

  • many well-known export products:

    Vegeta, chocolate products, canned fish

CROATIAN CHAMBER OF ECONOMY


Banking sector
BANKING SECTOR

  • Banking – almost entirely privatised, stable and developed sector, highly diversified offer and good quality of financial products and services

  • 36 banks, 5 (building societes) housing savings banks

    state owned banks 5%

    private domestic banks 3%

    foreign owned banks 92%

  • Croatian National Bank – central financial institution

  • HBOR (CBRD) – Croatian Bank for Reconstruction and Development – state owned investment bank

CROATIAN CHAMBER OF ECONOMY


EXTERNAL RELATIONS

  • Member of the World Trade Organization (2000)

  • 37 Free Trade Agreements (CEFTA, EFTA, etc.)

  • active role in the stabilization of the region

  • Stabilization and Association Agreement (SAA) with EU (2001)

  • candidate status - June 2004

  • opening of Croatia's accession negotiations with the EU - October 2005

CROATIAN CHAMBER OF ECONOMY


COMMODITY EXCHANGE

2005

  • Total 27,356 mil USD

  • Export 8,809 mil USD

  • Import 18,546 mil USD

  • (mil USD) Percentage

    • EU countries (EU-25) 17,630 64%

    • CEFTA countries 558 2%

    • EFTA countries 423 1.5%

    • other countries 8,745 32.5%

CROATIAN CHAMBER OF ECONOMY


FOREIGN TRADE (2005)

9%

3%

84%

2%

1%

0.1%

CROATIAN CHAMBER OF ECONOMY


Main export partners 200 5
MAIN EXPORT PARTNERS(2005)

7%

10%

8%

AUS

GER

SLO

40%

OTHER COUNTRIES(China, Hungary, USA,Serbia and Montenegro)

14%

21%

BiH

ITA

CROATIAN CHAMBER OF ECONOMY


Main import partners 200 5
MAIN IMPORT PARTNERS(2005)

9%

6%

7%

RUS

AUS

SLO

5%

14%

PRC

GER

43%

16%

OTHER COUNTRIES(France, Hungary, Czech Republic, USA)

ITA

CROATIAN CHAMBER OF ECONOMY


The main export products 2005
THE MAIN EXPORT PRODUCTS 2005

1. Mineral fuels and oils 13.6%

2. Ships and boats 11.0 %

3. Electrical machines, equipment and parts 9.2 %

4. Machinery, appliances and parts 7.4 %

5. Wood and articles of wood 4.1 %

6. Plastics and articles thereof 4.0 %

7. Articles of apparel and clothing accessories, 3.2 %

knitted or crocheted

8. Furniture; bedding, mattresses, lamps 3.0 %

9. Articles of apparel and clothing accessories, 3.0 %

not knitted or crocheted

10. Articles of iron or steel 2.5 %

CROATIAN CHAMBER OF ECONOMY


The main import products 2005
THE MAIN IMPORT PRODUCTS 2005

1. Mineral fuels and oils 15.1%

2. Machinery, appliances and parts 12.3 %

3. Vehicles and their parts 9.4 %

4. Electrical machines, equipment and parts 8.5 %

5. Plastics and plastic products 3.7 %

6. Iron and steel 3.5 %

7. Articles of iron and steel 3.2 %

8. Pharmaceutical products 2.7 %

9. Ships, boats and floating structures 2.7 %

10. Paper and paperboard, articles of paper 2.4 %

pulp, of paper or of paperboard

CROATIAN CHAMBER OF ECONOMY


LEGAL FRAMEWORK FOR INVESTMENTS AND DOING BUSINESS IN CROATIA

  • The Croatian Constitution guarantees:

  • free transfer of profit and of invested capital

  • equal rights for foreign and domestic investors

  • real estate ownership

  • Company Law

  • companies: joint stock company -33,000 USD

    • limited liability company - 3,300 USD

    • public limited liability company

    • limited partnership

    • One-stop-shop (www.hitro.hr )

  • Investment Promotion Law

CROATIAN CHAMBER OF ECONOMY


INVESTMENT PROMOTION LAW

  • Tax incentives:

CROATIAN CHAMBER OF ECONOMY


FOREIGN DIRECT INVESTMENTS(1993 - June 2006)

TOTAL = 12,502.9 mil EUR

Country Share in total FDI

1. Austria 21 %

2. Germany 17 %

3. USA 10 %

4. France 10 %

5. Italy 8 %

6. Hungary 7 %

7. Netherlands 7 %

8. Luxemburg 6 %

Source: Croatian National Bank

Edited by: Croatian Chamber of Economy

CROATIAN CHAMBER OF ECONOMY


FOREIGN DIRECT INVESTMENTS BY SECTORS (1993 - June 2006)

Sector Share in total foreign investments

Financial sector25 %

Telecommunications 12 %

Pharmaceuticals 8 %

Wholesale, commision and retail trade 6 %

Production of petroleum products 4 %

Production of non-metalic mineral 4 %

products

Extraction of crude petroleum 3 %

Hotels and restaurants 2 %

Source: Croatian National Bank

Edited by: Croatian Chamber of Economy

CROATIAN CHAMBER OF ECONOMY


Main investors
MAIN INVESTORS

  • Deutsche Telekom, Germany

  • MOL, Hungary

  • Siemens, Germany

  • Coca-Cola, USA

  • Vetropack,Switzerland

  • RMC Group

  • Ericsson, Sweden

  • Agip, Italy

  • Société Suisse de Ciment Portland, Switzerland

  • Raiffeisenzentralbank AG, Austria

  • Carlsberg

CROATIAN CHAMBER OF ECONOMY


Tax system
TAX SYSTEM

  • profit tax (companies) - 20%

  • income tax - 15%, 25%, 35%, 45%

    + city surtax

  • value added tax (VAT) - 22%, 0%

  • excise duties:

    • alcohol, beer, tobacco, coffee, cars, petroleum derivatives, non-alcoholic beverages, luxury products

  • agreements on avoidance of the double taxation

CROATIAN CHAMBER OF ECONOMY


Free zones
FREE ZONES

  • all business activities

    without custom duties and VAT

  • retail is NOT permitted

  • profit tax: 10%

  • no profit tax for investments in infrastructure facilities (164,000 USD - 5 years)

  • Entrepreneurial zones

CROATIAN CHAMBER OF ECONOMY


Free zones1

Varaždin

FREE ZONES

Krapina

Bjelovar

Osijek

Zagreb

Vukovar

Kukuljanovo

Buje

Karlovac

Port Rijeka

Slavonski Brod

Pula

Obrovac

Port Split

Split

Ploče

CROATIAN CHAMBER OF ECONOMY


Why croatia
WHY CROATIA?

  • steady economic growth

  • Croatia’s location and traditionally good business links with neighbouring countries

  • FTA with most of the countries in Europe

  • friendly environment and incentives for FDI, over 400 entrepreneurial zones

  • free transfer of profits and invested capital (profits tax 20%)

  • agreements on avoidance of double taxation (55) and protection and promotion of investments (62)

  • EU – prospects / adjustment of legislation to acquis communautaire

  • modern infrastructure

  • highly qualified and well-trained labor force (E,D,I)

CROATIAN CHAMBER OF ECONOMY


Investment recommendations
INVESTMENT RECOMMENDATIONS

  • green-field investment in export-oriented manufacturing sectors

  • co-operation in manufacturing and product development – advantages: tradition, quality and engineering know-how

  • booming tourism sector

  • numerous infrastructural projects

  • privatisation process

  • production and assembling in free zones

  • development of new technologies

  • energy sector…

CROATIAN CHAMBER OF ECONOMY


Commodity exchange croatia argentina
COMMODITY EXCHANGE CROATIA - ARGENTINA

source: Croatian Bureau of Statistics

- mil USD

YEAR EXPORT IMPORT TOTAL BALANCE

  • 2000. 2.1 4.4 6.5 - 2.3

  • 2001.1.31011.3- 8.7

  • 2002. 1.2 14 15.2 - 12.8

  • 2003. 0.3 14.8 15.1 - 14.5

  • 2004. 0.3 37.7 38 - 37.4

  • 2005. 3.8 82.7 86.5 - 78.9

  • 2006.I-IX. 0.5 38.6 39.1 - 38.1

CROATIAN CHAMBER OF ECONOMY


COMMODITY EXCHANGECROATIA - ARGENTINA

in 000 USD

CROATIAN CHAMBER OF ECONOMY


EXPORT STRUCTURECROATIA - ARGENTINA

Export in 2005

  • source: Croatian Bureau of Statistics

  • PRODUCTS mil USD %

  • Turbojets, turbopropellers3.2 85

  • Machinery for working rubber or plastics0.2 6

  • Moulding boxes for metal foundry 0.08 2

  • Antibiotics 0.06 2

CROATIAN CHAMBER OF ECONOMY


IMPORT STRUCTURECROATIA - ARGENTINA

  • source: Croatian Bureau of Statistics

  • PRODUCTS mil USD %

  • Leather further prepared after tanning 56.6 68

  • or crusting, of bovine or equine animals

  • Cheese and curd 8 10

  • Fish fillets and other fish meat 3.6 4

  • Aluminium wire 3 3

Import in 2005

CROATIAN CHAMBER OF ECONOMY


Business improvement possibilities
BUSINESS IMPROVEMENT POSSIBILITIES

  • TRANSPORT – PORT OF RIJEKA, PORT OF PLOCE

    AIRPORT ZAGREB

    FREE ZONES

  • INFRASTRUCTURAL PROJECTS (ROADS, ENERGY SECTOR)

  • SHIPBUILDING

  • EXPLORATION OF OIL AND GAS

  • MACHINE-BUILDING INDUSTRY

  • CHEMICAL AND PHARMACEUTICAL INDUSTRY

  • FOOD INDUSTRY

  • AGRICULTURE

CROATIAN CHAMBER OF ECONOMY


Croatian companies presented by catalogues
CROATIAN COMPANIES PRESENTED BY CATALOGUES

  • ALTPRO d.o.o., Zagreb

    Research, development and production of the safety signalling systems for the railway infrastructure and rolling stock

  • ATLANTIC GROUP, Zagreb

    Production of cosmetics, instant vitamin drinks

  • FERO-LEKO d.o.o., Pozega

    Production and trade of food supplements (antidiabetic, liver disease)

  • INSTITUTE OF IMMUNOLOGY Inc., Zagreb

    Production of viral and bacterial vaccines, plasma derivatives

  • PORT OF RIJEKA, Rijeka

    Port activity: loading, unloading, warehousing, transportation of cargo

CROATIAN CHAMBER OF ECONOMY


Croatian companies presented by catalogues1
CROATIAN COMPANIES PRESENTED BY CATALOGUES

  • PECON d.o.o., Zagreb

    Engineering, production and trade in process industry (food processing industry, chemical industry, pharmaceutical industry)

  • RIZ-TRANSMITTERS Co., Zagreb

    Design, manufacturing and supply of radio broadcasting transmitters and watthour meters

  • ZAGREB FAIR, Zagreb

    Organising international fairs and congresses

  • GENERALTURIST d.o.o., Zagreb

    Tourism – inbound, outbound, air ticketing

CROATIAN CHAMBER OF ECONOMY


Croatian chamber of economy
CROATIAN CHAMBER OF ECONOMY

  • established in 1852

  • since 1991 public law institution with obligatory membership

  • 20 county chambers

  • 7 Representative Offices abroad

  • 9 departments, 5 centres, 42 professional associations, 73 groups, 21 affiliations

  • Euro Info Correspondence Centre

  • member of ICC, Eurochambres, CEI, Alpe-Adria Chambers, UNECE, ASCAME, UEAPME, ECSB, TII, FIATA, OICA, EMEC

  • ISO 9001/2000

CROATIAN CHAMBER OF ECONOMY


How the chamber can help you
HOW THE CHAMBER CAN HELP YOU?

  • Biznet - simple and quick access to information and the companies database via Internet (www.hgk.hr)

  • register of Croatian companies

  • information about regulations and laws in the field of economics

  • business opportunities exchange

  • The Permanent Court of Arbitration - efficient system for resolving commercial disputes

CROATIAN CHAMBER OF ECONOMY


Croatian chamber of economy1
CROATIAN CHAMBER OF ECONOMY

  • International Relations

    Department

    phone: + 385 1 4828 382

    fax: + 385 1 4828 380

    Rooseveltov trg 2

    10000 Zagreb

    Croatia, Europe

    www.hgk.hr

    e-mail: [email protected]

Thank you for your attention!

CROATIAN CHAMBER OF ECONOMY


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