Corruption - obstacle for investments in Croatia and Western Balkans

On the Investment forum about Western Balkans, the President of the Croatian government Zoran Milanovic, said that one of the biggest obstacles for new investments is corruption.

Presidents of governments of Croatia, Bosnia and Herzegovina, Serbia, Montenegro, Kosovo, Macedonia and Albania participated on the investment forum in London.

The main goal of the forum organized by the European bank for reconstruction and development was to introduce Western Balkans as a destination for investments. Vice president of the Transparency International Croatia Don Markusic took part to the discussion on business environment and investment climate in the region.

Markusic was asked how much effort is taken in Croatia for the suppression of corruption which was identified as the biggest obstacle for foreign investments. He answered: “Croatian market is too small, so most of the foreign investors see the region as a whole. When you compare data about corruption in the countries of western Balkans you can see that situation in Croatia is bad, but that it is even worse  in other countries. However this is not something that helps Croatia in attracting foreign investors. Corruption perception index is not English Premier league table where is only important where you stand on the table, it is intended for the investors to see how conditions are changed in some country every year.

With the data about small but insufficient progress of Croatia in the fight against corruption Markusic also presented projects done by the civil society. Investors were particularly interested in the Agreement on business cooperation between the Croatian Employer’s Association and Transparency International Croatia. To recall, CEA and TIC cooperate for the suppression of corruption and the promotion democratic values and fair market competition in order to enhance the Croatian economic development.

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