Strategic investment projects law adopted

epa03621518 A Member of the European Parliament raise his hand in a voting during the plenary session in the European Parliament in Strasbourg, France, 13 March 2013. The European Parliament rejected the compromise of EU governments for the financial planning of the European Union until 2020. EPA/PATRICK SEEGER

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.