Croatian President Ivo Josipovic on Monday chaired the second meeting of his Economic Advisory Council which discussed possibilities of increasing domestic and foreign investments in Croatia, the President's Office said in a statement.
Josipovic suggested this topic so that the Croatian economy could begin recovery. Investments are necessary notably in the foreign trade sector so as to increase competitiveness and secure foreign exchange earnings, the statement said.
The Economic Advisory Council also discussed obstacles, other than the global crisis, to domestic and foreign investments in Croatia.
The Council said it was necessary to intensify structural reforms in the judiciary and education sectors and simplify administrative procedures in all sectors, particularly in those relevant to investors.
It concluded that it was also necessary to prepare a comprehensive tax reform so as to relieve the burden from labour income and reduce or abolish some non-tax revenues that discourage investment.
