Minister says HRK 3 bln to be invested in tourism in 2013

Tourism Minister Veljko Ostojic said in Split on Monday that investments into the tourist sector would be nearly three billion kuna this year, which is twice as much as in 2012.

"We are going to invest between HRK 2.6 billion and HRK 3 billion this year, which is nearly twice as much as last year when HRK 1.6 billion was invested," Ostojic told reporters in the biggest Croatian Adriatic city where he and several cabinet ministers launched a roadshow to promote the government's key measures aimed at investment stimulation and economy restructuring.

According to Ostojic, as much as two billion kuna of the planned investments in tourism should be made by the private sector in 2013.

He expressed satisfaction with the good cooperation between the Tourism Ministry and the Croatian Bank for Reconstruction and Development (HBOR) that offers credit lines with favourable terms and conditions, such as interest rates of 2%, 3% and 5%, four-year grace period and a 17-year term for loan repayment, for projects in the tourist trade.

Ostojic said that this had been recognised by Croatian hoteliers and other stakeholders in tourism.

He said that his ministry, the SMEs ministry, the HAMAG state agency and HBOR would unveil a credit line for small and medium-sized businesses in ten days' time. (Hina)