Azernews.Az

By Nigar Orujova

Croatia invited Azerbaijani investors to participate in large projects.

Croatian State Office for the Administration of State Property and Tourism Ministry enacted a "Call for an Expression of Interest" for the right to construction and usage of property in the location of Kupari I, the Azerbaijan Export and Investment Promotion Fund (AZPROMO) reported on March 10.

The Kupari tourist hotel complex is a former army recreation center in Kupari, the District of Zupa Dubrovacka, near the old picturesque town of Dubrovnik.

At present, a part of the complex consists of five hotels, which are not in use (Kupari, Pelegrin, Grand, and Goricina I and II). The total capacity of the complex is 1,626 beds.

The cost of participation is 15 thousand HRK (about $2,719), or its equivalent in foreign currency at the exchange rate at the time of payment.

The Croatian government has classified the project as a strategic one, which means the investment in the resort should not be less than €20 million, or €10 million if the funding is provided jointly with EU funds.

A letter with an expression of interest can be submitted by all domestic and foreign companies and physical persons in written form to the State Office for Administration of State Property no later than 30 days after the announcement of the Call.

In addition to that the shares of several large enterprises belonging to the Croatian Pension Fund and the State Agency for Deposit Insurance and Bank Rehabilitation in Croatia will be put up for sale soon, AZPROMO reported.

The hotel chains Dubrovnik Maestral, Imperial Rab, Plat, as well as the Jadroplov Company which specializes in maritime transport are taking part in the investment competition.

The Croatian side has invited interested Azerbaijani businessmen to participate in an investment tender. Letters of Intent for each of the companies are accepted until March 26.

Earlier, Azerbaijan started the €500 million investment project in Croatia's neighboring country, Montenegro.

Azerbaijan's state energy company SOCAR is going to build a modern resort and hotel complex in place of an abandoned navy base in the Bay of Kotor.

Trade turnover between Azerbaijan and Croatia amounted to $222.54 million in 2013, most of which ($213.25 million) accounts for exports of Azerbaijani products, the Azerbaijan State Customs Committee said.

Azerbaijan imported Croatian products worth $9.29 million last year; however, trade turnover between the two countries decreased by 1.5 times last year compared to 2012.