Crazy Americans PR Show: „Golf Park Dubrovnik“ soon on Srđj

8.5.2011 by CrniLabudovi.

The motor for corruptions, is everytime and over all: americans!

„Golf Park Dubrovnik“ soon on Srđ
After the project of golf course development “Golf Park Dubrovnik” was presented in the Dubrovnik’s city hall at the end of 2009, Razvoj Golf as a reliable partner actively participates in all the events of local community.

The draft of the UPU (planning details) of future Sports and leisure with golf court and tourist resort Bosanka north and Bosanka south was presented on May 21st, 2010 in the city hall in Dubrovnik.

This project, worth 6,5 billion HRK, was first presented to the city and county representatives by Greg Norman, the legend of golf, number 1 world player for over 6 years, currently one of the best known world golf course designers. Greg Norman is also one of the investors in the Srđ golf project.

Greg Norman’s company, Greg Norman Golf Course Design, designed 70 golf courses on six continents so far, seven of them in Europe. Croatian project is the latest in the long range.

Greg Norman came to Dubrovnik as the representative of international investor’s group who would be developing the Dubrovnik Golf Park via project company Razvoj Golf. His project for Golf Park Dubrovnik involved development of two courses of highest quality with 27 holes and a prestigious Greg Norman Golf Academy with driving range court. An equestrian club is on the plans too as are numerous sport, spa and wellness facilities. All the infrastructural links with the city below Srdj would be developed and a currently neglected area above the crown jewel of Croatian tourism would be brought to full splendour.

Reuters, April 28, 2011
Corruption and red tape snag Croatia’s EU hopes

ZAGREB (Reuters) - Five years ago, foreign and local investors put up a billion euros to create an upmarket sports and tourism resort in Croatia, overlooking the scenic Adriatic town of Dubrovnik.

They have yet to start construction — just one example of why Croatia is struggling to qualify for European Union entry and may not reap as much investment as it craves even if it does gain admission to the bloc.

The Dubrovnik investors engaged golf course design firm Greg Norman and planned to attract high-spending tourists with two hotels, two golf courses, a sports recreation centre and holiday villas and apartments.

“After many troubles due to poor land registries we managed in the last five years to acquire 3.5 million square metres of land we need for this project,” said Ivan Kusalic, a project director of the Razvoj Golf company that runs the venture.

“Now, we would like to start construction work, but we’re stuck amid constant changes in the municipal building plans due to bickering between officials on the local level.”

CONVINCING BRUSSELS

Croatia hopes to complete European Union entry talks by mid-year and become the bloc’s 28th member in 2013 or early 2014 if the talks drag on for a few more months.

At the heart of the conflict in the Balkans two decades ago, Croatia would be only the second EU entrant, after Slovenia, of the seven states that have emerged from the breakup of Yugoslavia.

While Croatia has taken many of the formal steps towards entry, it has yet to convince Brussels that its judiciary and observance of fundamental rights meet the bloc’s standards.

Excessive red tape, a variety of communal fees, corruption, slow judicial processes and land registry problems dating from the communist era are the key obstacles for would-be investors.

Tackling corruption and ensuring an efficient and impartial judiciary are also key conditions for EU entry.

“We’re concerned with progress in the fight against corruption in Croatia and stress the importance of ensuring the effective and irreversible implementation of anti-corruption reforms,” Transparency International said in an April report.

After two years of recession, Croatia is eager for EU funds and foreign direct investment. During the global credit boom, foreign lending funded personal consumption and state investments. Now foreign debt has reached 100 percent of GDP.

But FDI dropped last year to 440 million euros (387 million pounds) from 2.1 billion in 2009 and a record-high 4.2 billion in 2008, and analysts say the 1.5 percent economic growth that the government hopes for this year is not enough to turn around the jobless rate from an eight-year high of 19.3 percent.

“Our project targets 1,000 new jobs and a contribution to Croatia’s GDP of some 0.2-0.3 percent annually,” said Kusalic of the Dubrovnik venture.

“Still, we’re stuck. What happens here is that investors get promises that all the permits will be given quickly, then they buy land and face arbitrariness among local officials. It’s an area where corruption can flourish,” he added.

ARBITRARINESS

Since the government appointed Domagoj Ivan Milosevic last December as the first deputy PM specifically in charge of improving the investment climate, some changes have been made or at least announced.

This month the government proposed tax breaks linked to job creation. Milosevic says Croatia will also move to prevent land registry problems from blocking an investment and to set a firm deadline for the administration to respond to any query from a potential investor.

“We are working on shortening procedures for urban planning and our courts have been given instructions to deal with cases related to investment projects quickly and efficiently,” Milosevic said.

He acknowledges problems with officials on the municipal and county levels, and local economists warn that single measures won’t achieve a breakthrough. So do would-be investors.

Robert Benmosche, CEO of insurer American International Group, has bought two large vineyards on Croatia’s Peljesac Peninsula. He hopes to turn this hobby into a business in the years to come but says reforms still have a way to go.

“The true test would be when a mortgage insurance company says they are going actually to do business because of the quality of the real estate records,” Benmosche said.

Geschrieben in Economy - Wirtschaft | Keine Kommentare »