Croatia attracts €666.1mn in FDI in January-September - preliminary data

By bne IntelliNews January 12, 2016

Croatia managed to attract €666.1mn foreign direct investments (FDI) in the first nine months of last year, preliminary data from the central bank showed.

Croatia, whose economy contracted for six consecutive years, has been trying to attract foreign investments to support its economy. However, its business environment remains weak. FDI in the country collapsed in 2009 as a result of the global economic crisis. An important contribution to last year’s FDI came from the sale of TDR tobacco company to British American Tobacco.

The central bank did not provide comparative year-ago figures. It said the nine-month figure includes round tripping which increases direct investment in the country and direct investment abroad by the same amount.

The UK was the largest foreign investor in Croatia in January-September with €586mn, followed by Luxembourg with €256.9mn and the Netherlands with €112.1.

The sector which attracted most of the FDI in the first nine months of last year was the manufacture of tobacco products. In June, Croatian conglomerate Adris Grupa signed an agreement with BAT to sell its tobacco unit TDR, in addition to other tobacco and retail assets. After deducting TDR’s obligations, the transaction was worth €505mn.

In the full year 2014, FDI in Croatia amounted to €2.9bn, but nearly €1.5bn referred to round-tripping in June that year.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

EBRD extends €75mn risk-sharing facility to Croatian bank PBZ

The European Bank for Reconstruction and Development (EBRD) has allocated a €75mn for risk-sharing facility to Privredna banka Zagreb (PBZ), a part of the Intesa Sanpaolo Group, as part of a new ... more

Erste's Croatian subsidiary boosts net profit by 55% in 2023

Croatia's Erste Bank, a subsidiary of Austria's Erste Group, announced a consolidated net profit of €241mn for 2023, marking a 55% increase from 2022's figure of €156mn.  ... ... more

Zagrebacka Bank hits €509mn record profit in 2023

The Zagrebacka Bank Group announced a record profit of €509mn in 2023, marking an increase of €261mn (105.2%) year on year, the Bank said in its press release on ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    7 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    7 days ago
  4. Don't mention the "D" word - Ukraine
    4 days ago
  5. UBN: The US Needs to Wake Up
    5 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    25 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    29 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    28 days ago
  5. Saudi Arabia to scale back plans for Neom city
    15 days ago

Reports

Dismiss