Investment In Croatia Grows, Austrians Top

Foreign direct investments in Croatia in the first three quarters of 2008 totaled 2.17 billion euros, according to the latest figures from the Croatian National Bank, with half of the amount coming from Austrian investors.

Over 1 billion euro accounted for equity investments, other investments amounted to EUR 638 million, while retained earnings totaled EUR 500 million. Foreign direct investments were dominated by financial intermediation, accounting for EUR 1.08 billion. This mainly concerned injections of fresh capital into foreign-owned banks.

The figures showed that Austrians continued to be the most significant investors in Croatia, with slightly over 1 billion euros invested in the reporting period.

Since 1993, foreigners have invested a total of 19.84 billion euros in Croatia, with slightly over 57 percent coming from three countries -- Austria, the Netherlands and Germany.

Some 7.8 billion euros, or nearly 40 percent of all investments, have gone in the banking sector, with the chemical industry, post and telecommunications and real estate being other popular targets.

In the first three quarters of 2008, Croatian investments abroad totaled 39.5 million euros. Since 1993, Croatian companies have invested a total of 2.16 billion euros abroad.

Source: RadioNET