'Competitiveness Through Innovation' (Photo: Borna Filic/PIXSELL) 'Competitiveness Through Innovation' (Photo: Borna Filic/PIXSELL)

A representative from the European Bank for Reconstruction and Development said Croatia still had a long way to go if it wished to climb the list of the most innovative countries. Economy Minister Darko Horvat, meanwhile, said Croatia planned to access some of the one billion euros in EU funds available for innovation projects.

"Investments in the production industry is the only way to attract innovation. Innovation cannot take place in the tourism sector, so the priority must be focused on industry. The fact that our domestic production industry has stagnated in recent years proves that the investment climate is not at the level it should be. I have announced a major turn in our strategy for attracting investment. At the moment, we are working to attract ten investors who have so far avoided investment in our country," said the minister.

Minister Horvat said one of his plans for attracting investors was to reactivate dormant state property. A move he says is in the interests of investors, because according to the law if investors invest twice as much into the property than it's worth over ten years, the property becomes theirs.

Source: HRT