ZAGREB (Croatia), July 1 (SeeNews) – The Croatian government has declared that it has decided to declare two private projects for investment in accommodation capacity on the Adriatic coast of strategic importance, with the aim of accelerating their implementation.

The government on Thursday classified the projects as strategic, it said in a press release.

One of the projects is Marina Cavtat & Resort, worth 625 million kuna (87 million dollars/83 million euros), excluding value added tax. It will be carried out by a local company of the same name registered for the rental and management of real estate.

The project will extend over some 6.4 hectares in Cavtat, near Duborvnik. The hotel will have some 900 beds and will create more than 250 permanent jobs and 150 seasonal jobs.

The other project, worth 1.04 billion kuna including value added tax, will be carried out in Rozogniza, near the existing marina Frapa in Sibenik-Knin county.

The local construction, trade and tourism company Medine is the investor in the project which foresees the construction of a holiday village, comprising a five-star hotel, villas and apartments for up to 700 beds. The project will create 110 permanent jobs and 50 seasonal jobs.

The Croatian law on strategic investment projects gives their investors the opportunity to implement them with less administrative procedures.

Tourism is a key industry for the Croatian economy, contributing one fifth of the country’s GDP.

(1 euro = 7.529 Croatian kuna)