As Gordana Grgas/Novac.hr writes on the 1st of December, 2018, after much talk and many announcements, the official launch of the first Chinese investment in Croatia took place last week, which should reach the staggering amount of 160 million euro in two years.

This massive foreign investment is an interesting one, not only because of the amount, and not only because it's pioneering in its nature, but because when looked at in its wider context, it's a big part of the strategic Chinese "One Belt, One Way" initiative. It certainly ''lit up'' on the ever-watchful radar of the European Commission, which overlooks investments from third countries, it also naturally drew the attention of all those who look at China's investments in Croatia in a more geopolitical context. Croatian Prime Minister Andrej Plenković presented it as part of "project-oriented cooperation between the two countries".

The project itself is the construction of a wind farm near Senj, which was inaugurated by a huge Chinese construction company, Norinco International Cooperation, one year after signing a contract to take over a majority stake in the Croatian company - Energija projekt. This 32 million euro transaction was also recorded in a large analysis of both realised and announced Chinese investments across Europe, which was published by Bloomberg in the spring, pointing out that over the last ten years alone, the figures of such huge Chinese investments reached an incredible 300 billion euro.

The CEO of the Peking-based Norinco International Cooperation, Wang Yitong, was present at the opening ceremony in Senj last week. Otherwise, the company is listed on the stock exchange (the Shenzhen Stock Exchange), but is actually owned by the state. The situation is rather complicated, but when it is looked at objectively, it's clear that Norinco is part of the gigantic China North Industries Corporation, which was founded back in the 1980s and is among the largest state-owned conglomerates in terms of assets and revenues, and is the world's best known company for the production of weapons of all kinds.

Since 1999, it has been a part of an even larger group of companies, the China North Industries Group Corporation (CNGC). It is made up of fifty companies with a total of about 280,000 employees, it accounts for more than 40 percent of its revenue outside of China, operates in 40 countries, and is engaged in research and development, as well as in the production of weapons and military equipment. It is also involved in mining and oil businesses.

This group, abbreviated as just CNGC, is on this year's Fortune magazine's list at 140th place on of the list of global top-ranked companies, estimated at 64 billion dollars. As was published by Jane's Defense Weekly, CNGC has been on the list of twenty state-run Chinese firms for restructuring since last year, when the Chinese Government announced that it would accelerate a reform program to introduce "mixed ownership". This is a measure of privatisation, and from the huge group, as was announced last year, twelve companies are listed on stock exchanges from the automotive, electronics, and chemical industries.

Owing to above, Croatia did not enter into the Senj project via a private company, but with a company associated with the very leaders of the Chinese state, which is a part of an important conglomerate. In Brussels, the somewhat expected raising of eyebrows has so far been following and challenging the major Croatian contract with the Chinese to carry out works on the long awaited Pelješac Bridge. The strategic project is cofinanced by money from the European Union budget, and Brussels isn't happy that the Chinese will be the ones to built it.

Now, in a direct Chinese investment in Croatia, into the energy sector (several similar ones have already been realised in the EU), the Chinese will, in a period of two years, build 39 wind turbines with a total power of 156 megawatts under Velebit, while Brinje and Senj will see 5.5 million kuna a year spent on wind energy, Croatian subcontractors will be part of the construction work.

For the takeover of Energija projekt, over which the former owners have been holding disputes, the Chinese have engaged the American consultancy firm Norton Rose Fulbright, and the process was brought to an end and registered at the Commercial Court in Rijeka back in September this year. Thus, the Chinese company has also taken over the rights to build and manage the wind power plant near Senj, and the consultants' belief is that Norinco is "taking the initial position for entering the European Union market and then expanding and increasing its market share within the EU, and obtaining references in a new business environment". Plenković has expressed his hopes for Norinco to be the predecessor to other Chinese companies and further direct Chinese investment in Croatia, often holds talks about intensifying relations, and is preparing a meeting on the subject which will be held in Croatia in the spring of 2019.

Geopolitical experts, like one particular Berlin think tank, announced earlier this year that China's investments, especially when they are made by state-owned companies, should always be looked at as an attempt to secure influence over European Union politics. But should Plenković really worry about that now? Probably not; direct foreign investment is not so common, and whether or not Chinese companies will appear on projects such as construction of railway lines, more specifically what will happen with the Chinese investment in the Port of Zadar and the cooperation between Chinese and Croatian construction companies and such, is yet to be seen.

During current moments on the international scene, China continues to attract large amounts of attention as a global creditor, not just as an investor, and despite Chinese investments in Croatia, the country doesn't have such an experience under its belt. Yet.

Recently, the New York Times published a text entitled "The World, Built by China", which analyses as many as 600 projects in as many as 112 countries worldwide which were somehow funded by the Chinese over the last decade, from gas pipelines to bridges, roads to railway lines, and many more. Many of these projects are part of the strategic "One Belt, One Way" initiative (often described as the Silk Road for the 21st Century), and in the aforementioned text, the Chinese strategy is even compared with the American plan after the Second World War, yet describing it to be ''brave, expensive, and far more risky".

Make sure to follow our business page for more news on Chinese investment in Croatia and much more.

Click here for the original article by Gordana Grgas on Novac.hr (Jutarnji)

New hotels in Croatia are popping up all the time, and some major investments have seen the tourism sector come on leaps and bounds even very far away from the glitz and glamour of the yacht-filled coast. 

Croatia's investment climate has some big improvements to be getting on with, and quickly, but despite numerous issues, large investments in the country's safest sector, tourism, continue to pour in.

The Croatian capital of Zagreb has gone from all but entirely overlooked as a tourist destination to a ''must visit'' continental city which many are referring to as the ''new Vienna'' among other names. The city's dazzling Advent in Zagreb festivities has seen the Croatian capital take the prize for best European advent destination for an impressive three years running, and as the hotels fill up, new ones continue to open their doors.

As SibenikIN writes on the 28th of November, 2018, the new luxury Hotel Capital Zagreb group Amadria Park, to which the extremely popular Solaris Resort near the ancient Dalmatian city of Šibenik belongs, will be officially opened on Thursday in the centre of the Croatian capital. The brand new hotel boasts 112 rooms and the value of Ugo Group's investment, which stands behind Amadria Park, is a massive 14.5 million euro.

The new hotel is located in the building of the former Croatian branch of Wiener Bankverein at the corner of Jurišićeva and Palmotićeva street, and is the first so-called ''city'' hotel of the Amadria Park group.

''[Opening - TOMORROW 29.11.2018] The moment has arrived! It's time to unveil Amadria Park's first Zagreb hotel - Capital.

A heritage hotel with a well-appointed, central Zagreb location, it combines early 20th century architectural grandeur with the upmarket elegance of a modern hotel.

Only 450m from Ban Jelacic Square, it offers 112 rooms, restaurant, bar and cafe, fitness zone, underground garage, upmarket store and meeting rooms.'' wrote an update on Amadria Park's Facebook page.

Make sure to follow our travel and lifestyle pages for more info on new hotels in Croatia, and much more. If it's just Zagreb you're interested in, stay up to date with our dedicated Total Zagreb site for everything going on in the capital.

As Glas Istre writes on the 26th of November, 2018, calculations show that almost a million people per year can be found on Pula's riva (waterfront), with the highest concentration naturally being in the tourist season, during the warmer summer months. Could the introduction of a Pula riva tram be the answer to a silent yet pressing question for the city?

These high concentrations of people are all potential users of the historic Istrian city's future tram. Rather than driving cars into the city and its roads, a tram could be a much better option. Ultimately, the benefits of such a move would be multifaceted. Pula would have the opportunity to put its abandoned resources back into proper use, namely the railway line, and solve a good part of its traffic problems in an environmentally friendly manner.

Can the introduction of an electric tram along the Pula riva significantly reduce the traffic and crowding during the summer, and eliminate the proverbial tourist suffocation on the streets of Pula? Yes, it can - claim Livio Nefat and Ivan Skol, who are completing their project on the introduction of an electric tram in Pula, by reactivating the neglected railroad tracks which already exist in the popular Istrian city.

Instead of going back into the past, the Pula riva tram project introduces us to the future, just like in the film. We imagine that it would be able to travel along the entire Pula Bay, where there is already a line from older times. To be able to take a tram to go swimming at Punta Krišto, Štinjan and Hidro on one side, or go shopping in Max City on the other. And how would it be, during the summer, to be able to sit on a tram that would take you under the tunnels below the Montezaro park all the way to the exit not far from Elektroistra? It sounds unreal, but it isn't an impossible task.

The above is the vision of the Pula locals, who have been steadily and enthusiastically engaged in the Pula riva tram idea for the last four years.

''Thousands of tourists a day, from the nearby tourist zones, from settlements, camp sites, and hotels from various places across Istria, come to the centre of Pula during the summer in their cars and on buses to see its sights, to embark on a boat tour or to go to one of the evening performances at Pula Arena. They go and park wherever they arrive in the city centre, and more and more are parking at large car parks at the entrance to the city - at Mandrač, on the outskirts of the riva in the north, on Marsovo polje, and at the former Industrokema in the southern part of the city. There are no adequate, targeted means of transport now. Walking in the summer at 35 degrees is a problem for everyone. After all, they want to be comfortable, most aren't bothered about walking, but they'd be happy to drive,'' Livio Nepat states.

According to his idea, the Pula riva tram would initially run from the car park at Mandrač, near the railway station, and then along the waterfront all the way to the Forum. If the line ended up being extended as planned, and then realised, the southern part of that same symmetrical line would see a tram take tourists and other travellers from the Forum to the future garage located at Marsovo polje, where there are other larger car parks. Therefore, the tourists would leave their vehicles in the aforementioned parking areas, at Mandrač and Marsovo polje, in order to get into the city by public transport, more specifically by electric tram. This smart solution would significantly relieve Pula's burdened roads of the overwhelming crowds during the summer, according to the authors of the planned project.

According to the business plan they have developed, the first phase of the investment is worth about five million kuna, and that could be paid off within a three year period. These calculations show that almost a million people can be found on the waterfront per year, where they then embark on ships, excursion boats, buses on the waterfront, or go to concerts and other various events held at Pula Arena. These are, as stated, all potential users of Pula's future tram.

Ultimately, the benefit of the introduction of such a tram service in Pula would be a multifaceted one. The city would put its unused and abandoned resources back into proper use, such as the railway line, and thus solve at least a good part of the traffic jams in an environmentally acceptable way, explained Ivan Skol.

As far as the second phase of the project is concerned, the proposal is to use a railroad that runs along Pula Bay as a whole. The track already exists on one side all the way to the cement factory (alternatively, the old route from back in 1904 could be restored) not so far from Muzil, Max City, the Naval cemetery and the church, and on the other side, to Punta Guc at Valellunga, where a cruise terminal is planned. So, an even greater influx of tourists who need transportation to Pula Arena, the Forum, the market etc is expected. By extending the line from the cement factory to Muzil, it could also even reach an important future tourist area, as well as a new shopping centre.

On the other hand, the railway line towards the north, from the railway station to the military airport, already exists. With the addition of the section to the civilian airport, the Pula riva tram would be able to offer an elegant transfer service for thousands of passengers from the airport to the city, as well as to the future cruise terminal.

''I've been working on this tram north-south simulator for four years now. So far, a lot has been agreed. After lengthy negotiations, (with particular emphasis and thanks to the professional staff of the traffic section of Pula and Istria) HŽ confirmed to us that it's technically possible to use two tracks that are not being used at Pula railway station. The licensed company from Zagreb, authorised to design the railway infrastructure, has been working on completing the entire design process over recent days. We got a CD from the City of Pula with all the necessary geodetic substrates of the Mandrač - Forum route for the project, for which we're especially grateful to the Administrative Department for Spatial Planning of the City of Pula,'' noted Livio Nefat.

The author's desire is to present the "Tw" Pula riva tram project to the City of Pula when all of its loose ends are tied up. It is the City itself which will decide whether or not the project will come to life. Without the green light from them, it is impossible to realise, among other important things, the availability of a funding channel through European Union money. With EU cash behind it, the whole project would be easier to kickstart and then later continue to elaborate.

The two Pula locals have said that their desire to bring this project to fruition comes from their wish to make a contribution to the community as citizens of Pula, for the citizens of Pula, and in cooperation with the City of Pula, with the help of EU funds, ITU mechanisms and other forms of financing to realise a self-sustaining entrepreneurial venture, from which everyone would benefit.

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Click here for the original article by Jasna Orlic for Glas Istre

Virovitica is by far one of Croatia's most overlooked cities. Located what feels like a world away from the hustle and bustle of desirable Dalmatia and the funk of the capital city, not far from the Hungarian border, this quiet continental Croatian city is like a step back in time, with all but its highly advanced budget for next year, it seems.

As Poslovni Dnevnik writes on the 21st of November, 2018, Virovitica will have the largest budget in its entire history in 2019, it adds up to about 286,175,000 kuna, an amount the city councillors adopted at their fifteenth regular session.

At the session of the city council, it was stated that in relation to last year, Virovitica's budget plan had increased by a considerable 13 percent, mainly due to large and significant urban projects that will be co-financed by European Union funds and the state budget itself. In addition to providing funds for the material expenses and the investment maintenance costs, the City of Virovitica expects continued work on projects which have already begun being worked on, as well as some brand new investments.

Thus, the city's 2019 budget includes funds to continue the construction of the Centre for Education and Rehabilitation and three-part school sports hall in the amount of 27,150,000 kuna and the reconstruction of the City Park and Castle Pejačević in the amount of 28,200,000 kuna. There are two projects which mainly involve the energetic restoration of buildings, including the "Cvrčak" kindergarten and the Ivana Brlić-Mažuranić primary school, both in the amount of 1.620.000 kuna, according to a report from Glas Slavonije.

In addition, the City of Virovitica has plans for a few totally new investments, including the construction of a sports and recreation centre in Virovitica - a complex which will be built on the site of some former barracks, worth 26,300,000 kuna, an increase in the overall energy efficiency of public lighting worth 14,350,000 kuna, and the energetic renovation of various buildings, a cultural centre, and the reneal of the of the sport community building, worth a massive 16,330,000 kuna.

In addition to all of the aforementioned, there are also plans for several more projects, including the construction of communal infrastructure, rearranging the traffic zone around the Ivana Brlić-Mažuranić primary school, road construction in certain areas, car park construction, and other infrastructure projects described in more detail in Virovitica's construction program for 2019.

Make sure to keep up to date with more information like this by following our lifestyle page.

Whether it be big or small, investment in Croatia with the help of European Union funds continues to keep the country's offer competitive.

As Morski writes on the 17th of November, 2018, in one port area in Primorje-Gorski Kotar County, the biggest investment cycle so far has begun. ​​Of the massive 150 million kuna investment, as much as 60 million kuna are the projects of the County Port Authority of Crikvenica, and works in Jadranovo, Crikvenica and Selce will begin next week, according to HRT Radio Rijeka.

The project's contractors are Crikvenica Construction and Rijeka BSK Commerce. The completion of the port extension has been announced in Crikvenica for eighteen months time, that in Selce will be done in five years, and in Jadranovo, the expected time limit is one year, with the overall desire for it to be completed before next summer.

Speaking generally, investment in Croatia is a hugely important step in continually improving the country's already rich offer, and Primorje-Gorski Kotar County has not launched such a large investment cycle in its coastal area ever, County Prefect Zlatko Komadin said. This year, 40 million kuna's worth of works began, while the rest of the investment cycle is expected to reach 150 million kuna in the next two years. Along the coast in the Crikvenica area, there also will be works on the ports of Unije, Susak, and Cres. The views of places and cities are changing, which is already evident in Njivice (Krk) and in Novi Vinodolski, and such changes will soon also be seen in Crikvenica, noted the prefect. Komadina also pointed out that they have withdrawn most possible European Union incentives for the upcoming works.

Nada Milošević stressed that as much as 101 million kuna is coming from EU funds. "The Ministry's contingency has been extended until February the 29th next year, so we're planning to run two more projects in addition to the Crikvenica project, involving Rab and Purpurela ports, part of the fishing port and the extension of the Baška port," said Milošević.

The director of ŽLU Crikvenica, Mario Kružić, announced that in Crikvenica, the existing pier will be extended by another sixty metres, and a new western breakwater of 130 metres in length will be built to protect the port from waves. Two existing gates will be built in Selce on Polača and Stari mul, which will be 100 metres longer. In Jadranovo, the plans are the construction of a new promenade of about 400 metres in length, and in Perčin port, the communal berths will be renovated, and in the concessioned area, nautical berths will be constructed. The plan also boasts an 80-metre deep breakwater pontoon, as well as the construction of two piers at lengths of sixty metres.

Work should begin next week, and Crikvenica's administration has asked tourists and citizens alike for their patience, as heavy machinery will be moving through the city streets.

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Click here for the original article by Neva Funcic for HRT Radio Rijeka

After finding its place in the country's capital, Hilton is looking for further potential locations and opportunities along the Croatian coast for its Canopy hotels as Cappelli cites an investment in tourism for 2019.

As we reported yesterday, in a huge investment in tourism, Canopy by Hilton has found its way to the Croatian capital of Zagreb, but the search for possible hotel locations isn't over for the highly respected hotel company yet. 

As Marija Crnjak/Poslovni Dnevnik writes on the 12th of November, 2018, the brand nurtures local culture, and this is Canopy by Hilton's very first hotel in continental Europe. After the opening in Zagreb, such hotels in desirable European capitals are set to open, including London, Madrid, and Paris.

Hotel Canopy by Hilton, a massive eight million euros worth of investment by Hrvoje Pezić's Zagreb City Hotels company, was opened on Monday in Zagreb's Branimir Centre.

The lifestyle brand is, as stated, set to take numerous other European cities. It nurtures local culture, and domestic designers, including Studio Franić and Šekoranja, as well as Croatian furniture manufacturers, who are engaged in decorating the Zagreb hotel, as pointed out from Hilton.

In the hotel itself, you can find various pieces of Zagreb's long history, from folklore to its rich scientific and industrial heritage, as well as some of the capital city's typical traditional dishes presented in a new, modern way at the ReUnion restaurant.

The hotel boasts 151 rooms, a restaurant and bar, a fitness room, a retreat room, a transfer room and two meeting rooms.

''After DoubleTree, we're opening Canopy, and we're expecting the opening of Garden Inn next year. We're exceptionally proud of this hotel and we're happy to have had such good cooperation. Croatia is an extremely important market for Hilton. It has a wonderful coastline and we're already looking to expand there and develop our hotels there, but the City of Zagreb is also of utmost importance because it's growing, and we also want to participate in that,'' stated Alan Mantin, Managing Director of Hilton for the development in southern Europe.

Tourism Minister Gari Cappelli emphasised that this investment with the world-renowned brand will contribute to the even better positioning of Zagreb as well as Croatia as a destination which boasts a high quality offer.

Want to keep up with more news on hotel openings, investments in tourism, or just news in Zagreb? Make sure to follow our travel, lifestyle, and Total Zagreb pages for much more.

Click here for the original article by Marija Crnjak for Poslovni Dnevnik

Could Slavonia become Croatia's very own Tuscany through the story of its local wine? Possibly, as Kutjevo has seen a massive 54 million kuna investment into its new area.

As Poslovni Dnevnik writes on the 11th of November, 2018, on Friday in Kutjevo in Slavonia, a new investment in the Galić winery worth a massive 54 million kuna was presented, the huge investment will increase the winery's capacity by as much as one-third, as they announced.

Of the 54 million kuna, 35 million kuna was invested in the building itself and another 19 million kuna into the equipment. Winery owner Josip Galić pointed out that the winery will remain a boutique winery, and will follow all the current trends, continuing to produce quality wines, rather than focus on mass production.

"Although our winery could be considered a miracle of modern technology and has equipment that even the world-renowned wineries would envy, we're just starting to build our story in Kutjevo. The ultimate goal is to develop the whole region, we want to make a Croatian Tuscany out of Slavonia, as it justifiably deserves it,'' explained Josip Galić, the owner of the winery. The CEO of Galić wine, Andrej Markulin, pointed out that this year, the winery is celebrating ten years of business and wants to intensify its production of "serious" wines in the long run.

The winery in Slavonia looks simply like brick and concrete, but attracts tourists and wine lovers from all over the world, and the attraction is intensified just by viewing the interior and getting to know the equipment that the world's best manufacturers are currently offering.

"With new technology and equipment, we have all the conditions [available to us] to achieve this goal very quickly," he pointed out. The winery began with seven hectares of vineyards and 30,000 bottles of wine. Today, there are 55 hectares, and some of the grapes are from local wine growers.

The capacity of the new winery is 630,000 bottles, which is 30 percent more than there is at the minute, and their annual production is 330,000 litres. In addition to wine production and grape growing, Galić launched chestnut and blueberry growing this year, into which there will be an additional investment of 8.5 million kuna.

Want to keep up with more news like this from Slavonia and from across the country? Make sure to follow our lifestyle and Made in Croatia pages for more.

Is an economic boost on the horizon for one leading regional producer with two manufacturing plants based here in Croatia? An extremely large cash injection might suggest exactly that.

As Poslovni Dnevnik writes on the 10th of November, 2018, Addiko European Bank for Reconstruction and Development (EBRD) and Addiko Bank have approved the DIV Group, which is otherwise the leading regional hardware and metal solutions manufacturer, a financial package of a massive total value of 30 million euro.

The funds are intended for the further investment in the long-term development of the DIV Group, with the end goal to be an increase of overall energy efficiency, the strengthening of sustainable working capital, and the restructuring of the leading group's balance sheet.

DIV Group is the leading regional manufacturer of numerous items in the wider region, and it boasts two production plants in Croatia, a well as plants in neighbouring Serbia and in Bosnia and Herzegovina. Through continuous investments in modernisation, development, new technology and staff, DIV Group has become one of the strongest producers in the entire metal industry and as a well repected and well established supplier of equipment, in the eyes of both the railway program and the automotive industry, exporting about 90 percent of its production.

Addiko Bank Croatia is well known for providing an economic boost or two, part of an international financial banking group that actively supports the growth of local businesses in Croatia, Slovenia, Bosnia and Herzegovina, Serbia, and Montenegro. As of 2017, Addiko Bank has been the sixth largest bank in the Republic of Croatia in terms of total assets.

The EBRD loan has been approved under the Direct Finance Framework, which is intended to finance the growth and development of local businesses. The European Bank for Reconstruction and Development is a leading investor in the region and has otherwise invested a huge 3.7 billion euro in Croatia, in more than 200 different projects so far.

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One Croatian company receives the nod of approval and an enviable cash injection from some of Croatia's most prominent business angels who believe in their potential for enormous success.

As Lucija Spiljak/Poslovni Dnevnik writes on the 10th of November, 2018, since the very launch of the game, more than 1,600 copies have been sold, and their income, as they state from this Croatian company, is enough to cover salaries, programs and servers. Given that the game is still at an early stage, they say they didn't actually expect all that much from it initially.

Eleven members of the Croatian Business Angels Network - CRANE, provided the Jastrebarsko gaming studio Hyperion with the largest investment by number of members so far. They decided to invest in the launch of a young, three-member team who independently released a survival computer game called Journey of Life just a few months ago. During that period, the game has earned more than 250,000 kuna in revenue.

The founder of the startup is 22-year-old Adriano Žeželić, Thomas Lesniowski from Germany, and Siddhante Nangla from India, and the project was presented at the CRANE Startup, which held at the Zagreb School of Economics and Management on Wednesday. Investors have estimated the value of this Croatian company to be 500,000 euro, and the business angels who have invested will receive somewhat less than 20 percent of the newly established company, which has its seat in London.

CRANE President Davorin Štetner was first invested in the startup, followed by Hrvoje Prpić, then Aljoša Domijan, Zoran Miliš, Dennis Rukavina, Zvonimir Orešar, Denis Matijević, and Nikola Serdar.

Žeželic contacted President Davorin Štetner on the suggestion of a friend who claimed he left a positive impression on him, and after that, the young author of the game from Jastrebarsko, who is an electrical technician by profession, had the chance to present the project to others.

"I like to see when somebody is able to launch such a demanding thing without getting any help, so I think that now, with the help of the money and the advice from experienced business angels, Adriano will succeed in his ambitious plans," said Štetner.

Hrvoje Prpić, the lead investor, spoke with Roman Ribarić from Croteam on Journey of Life's potential and CRANE's decision to investigate the market before actually investing anything. From the previously released game, Croteam raised as much as 16 million euro, Prpić concluded that Hyperion's Journey of Life study could also bring great success. Prpić said that the long-term investment aim of the business angels is to encourage Hyperion to continue to release games in order to become even more significant.

"As a passionate gamer who has always been in love with computers, I started planning the 2016 project, and I started with its actual realisation in October 2017. That year, I decided to realise my dream and founded the Hyperion Studio and released the game at the beginning of May," Žeželić warmly recalled.

"We got some great support from players around the world that helped us keep the project going. We communicate daily with people who join our group and share new things with them. The support of experienced business people is of great importance and I'm looking forward to working with CRANE because I believe that with some business advice, money, and assistance in other segments, Hyperion Studio can become an international name in the gaming industry,'' stated the Croatian company's young founder.

The game is currently available only for personal computers, but mobile versions are being discussed and planned, and they will hopefully be on the market during the second half of next year.

Want to keep up with more news on Croatian companies, investment and more? Make sure to follow our business and our Made in Croatia pages.

Click here for the original article by Lucija Spiljak for Poslovni Dnevnik

As Sergej Novosel Vuckovic/Poslovni Dnevnik writes on the 8th of November, 2018, Zagreb has been chosen in a group of 40 cities across Europe as the seat of the new centre for software in 40 cities of Europe, and has also entered the final six along with Sofia, Bucharest, Belgrade, Madrid, and Lisbon.

Croatian IT experts have thus had a brand new and welcome opportunity to stay in their home country created for them.

The Adcubum company from Switzerland came to Zagreb where it has just opened its Software Solutions Development Centre. The investment is worth 12 million euro over a three year period, as was explained by the director of the Croatian branch of the company, Bojan Poljičak.

"This is a Swiss greenfield investment, related to the development of a service centre for software development. These are high value added services, focused on development and exports,'' stated Poljičak, who was also once the director of Adecco Croatia. Adcubum has otherwise been in existence for twenty years, and has been active in Austria and Germany as well as at home in its parent country of Switzerland, specialising in business information technology solutions for insurance companies. There are 350 employees in total, and in Zagreb there are now seven more.

By the end of this year, there will be ten workers, and what is particularly stimulating for domestic experts is the announcement that they plan to employ 40 people each year over the next five years in order to reach a total of 200 employees in Croatia by the end of 2023.

"Profiles that are of interest to us are engineers for software development. We're very satisfied with the level of knowledge and skills of the existing candidates and at the beginning, we encountered a good level of interest. Just like it is in other countries, the main challenge will be to find, attract, and retain a sufficient number of suitable candidates, but we're positive about it and we expect that we'll be able to bring our plans to fruition,'' explained Poljičak. The main product of Adcubum, which will be done in Zagreb, is SYRIUS, a comprehensive software solution developed specifically for the business of an insurer.

"It allows them to deal with almost all of their processes within that solution and to adapt it, on the other hand, to their business specificities through the parametrisation and flexibility of the software solution," said Adcubum's Croatian affiliate director, noting that their goal in the Croatian capital is to increase additional human resources for further SYRIUS development.

"We're planning to form teams that will work on new software products in the application area called ''front end'', but also processing and analytics in the field of big data,'' Poljičak pointed out.

Just how did the Croatian capital manage to bypass the competition and be of such attraction to the Swiss company?

"They considered the prospects for the availability of IT professionals of high professionalism, foreign language knowledge, cultural similarities, and support from state institutions such as the Investment and Competitiveness Agency," Poljičak revealed.

"We want to use a very good ratio of expertise, professionalism, flexibility, and teamwork that candidates and potential employees have here in Croatia. We also want to provide our employees with work experience with colleagues and clients in Switzerland and Germany - as well as transfer part of our knowledge and our ways of working with colleagues in these countries,'' Bojan Poljičak concluded.

Adcubum's Chief Technology Officer Walter Meister and Swiss Ambassador to Croatia Emilia Georgieva were also at the opening of the Zagreb centre, pointing out that the Croatian branch was a result of the company's accelerated development due to an increased demand for services, expressing hope that this investment would strengthen Switzerland's status in the top ten foreign investors in the Republic of Croatia.

According to CNB/HNB (Croatian National Bank) data, direct Swiss investments in Croatia in 2016 amounted to a huge 6.2 million euro. In the first two quarters of this year, about 5.6 million of Swiss capital entered Croatia, and a total of about 42.4 million euro has been invested in the country since as far back as 1993.

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Click here for the original article by Sergej Novosel Vuckovic for Poslovni Dnevnik