"I am confident we will wrap up the entire process. Then it will be up to private owners to invest maximum efforts and prove themselves on the market," Cacic told a news conference at which he addressed in detail the process of restructuring the shipbuilding industry in which a total of HRK28.4 billion has been invested over the past 20 years. Cacic said that in the next five years the state will have to invest another HRL2.5 billion in the restructuring of the shipbuilding industry.

Earlier today, the government decided to sell the Brodotrogir shipyard to the Kermas company owned by businessman Dank Koncar, after assessing his bid better than a bid made by the More Trogir company of Slobodan Ljubicic. The government was also notified of the draft contract on the sale of the Brodosplit dock to the Samobor-based DIV company.

The contract with DIV will be signed after Brussels sends its official confirmation which, according to Deputy Economy Minister Tamara Obradovic Mazal, is expected on 24 July.

Cacic said the privatisation of the Pula-based dock Uljanik was also likely to succeed, which is a prerequisite for the privatisation of the Rijeka-based 3.maj shipyard.

The Kraljevica shipyard is in official receivership, the claims of 450 employees have been settled, the problem concerning the delivery of two ships has been resolved and 60 percent of all claims by suppliers and sub-contractors have been settled.

Cacic criticised the former government, saying that after it received the green light for shipbuilding industry restructuring programmes and closed Croatia's EU entry talks on 30 June 2011 it did nothing in the shipbuilding industry.

The minister announced that after the completion of the restructuring programme, the government would continue to be involved the shipbuilding industry through allowed support for innovations and new technologies. He announced the Croatian Bank for Reconstruction and Development would launch a special programme for the support to shipbuilding industry.