Wednesday, 16 March 2022

Međimurje Wins Financial Times Award Again

ZAGREB, 16 March 2022 - Međimurje County has been given the European Cities and Regions of the Future 2022/23 award by one of the most reputable world economic magazines the Financial Times, its fourth such award, among 160 larger or smaller regions and more than 350 cities in the European Union.

County Prefect Matija Posavec, who received the award in Cannes on Tuesday, told a press conference on Wednesday that the award was not a coincidence and that Međimurje has been recognised as one of the most favourable areas for successfully doing business in Europe thanks to a system that connects the economy and education, among other things.

It is an award to a proud Međimurje that combines all those values of our people, who are productive and diligent, Posavec said, underscoring that over the past two years of the coronavirus pandemic, Međimurje's economy continued to grow as it has been over the past 15 years.

Posavec highlighted several examples of a good entrepreneurial environment such as the Technological-Innovation Centre, the Međiurje Energy Agency and the Čakovec Metal Hub as well as the first scientific-research centre that is owned by a county government. He announced the opening of a regional competence centre in the next month.

"Results do not come overnight, but we are always thinking two steps ahead, and today we are thinking about what will happen tomorrow, which is our wish to become a pilot project in our health system and to apply artificial intelligence here too," said Posavec.

The director of the REDEA Public Institute for the Development of Međimurje County, Sandra Polanec Marinović, said that due to COVID-19 it was necessary to adapt to new criteria.

"We also presented those sectors that have the greatest potential for post-pandemic recovery, concentrating on new rapidly-growing sectors such as eMobility, as well as presenting the IT sector and creative industries," she said, recalling the huge municipal investments in business zones.

Business: For more, check out our business section.


Wednesday, 2 March 2022

Financial Times Lists IT Company Syntio as Fastest Growing in Croatia

March the 2nd, 2022 - The well respected and heavily read Financial Times (FT) has listed the IT company Syntio as the fastest growing company of its kind in the Republic of Croatia.

As Poslovni Dnevnik writes, the IT company Syntio, a Croatian cloud-based IT engineering company, ranked 225th on the prestigious list of The Financial Times (FT 1000) of Europe’s fastest growing companies.

If we look exclusively at the position in the IT sector, then the IT company Syntio took 55th place in all of Europe, meaning it took first place at the national level of Croatia, with a growth of 673.74 percent in the period from 2017 to 2020. Six more companies from Croatia are also on the list of one of the most reputable business papers in the entire world.

“We founded the company in Zagreb five years ago, in 2017 to be precise. Since then, we've opened branches in the United States of America and Denmark and grown to almost 90 employees. The fact that the Financial Times has included us on this prestigious list is a confirmation that we're developing the company in the right direction, that we are doing quality things and is an additional incentive to continue investing in the development of our services and products,'' pointed out Davorin Cetto, who founded the company alongside Tomislav Domanovac.

Their impressive client portfolio includes leading multinationals in retail, telecommunications, finance and pharmaceuticals, and they see their role in the market through linking data engineering, cloud technology and innovation. In particular, Syntio is one of the leading Google Cloud data engineering partners at the highest level, for the Nordic region primarily, but also globally. In the Nordic region, they work with several large companies to design and create data platforms that enable customers to use data, with the goal of achieving the best business results. In addition to Google, they're partners with Amazon AWS and Microsoft Azure.

The well known FT 1000 is the annual list of the fastest growing European companies published by The Financial Times in cooperation with the German statistical company and the Statista portal, and it's been going on for six year now. It shows the companies that have achieved the highest growth rate between 2017 and 2020, and in order to get on the list, they had to achieve a minimum growth of 36.5 percent.

For more, make sure to check out our business section.

Friday, 5 March 2021

FT Lists Croatian Submarine Among 1000 Fastest Growing European Companies

March the 5th, 2021 - The Croatian Submarine company has been spotted by the Financial Times and its impressive reach of sixteen million people around the world.

As Poslovni Dnevnik writes, the Financial Times (FT) a leading and highly respected publication which deals with all things related to politics and finance and has been around for more than 130 years now, has turned the spotlight on no less than the Croatian Submarine.

"In the autumn of 2020, we were contacted by the London office of the Financial Times. They requested documentation related to our business, for the purpose of possible inclusion in the prestigious list of the fastest growing European companies. From the very beginning, the Croatian Submarine company´s approach has been complementary in some segments to the business of technology companies. We´re really flattered by the fact that we, as a company from the non-technology industry, have ended up side by side with tech companies. This is a recognition for the entire company and the entire Submarine team. The imperative has always been the satisfaction of our employees because without it there can be no successful company,¨ said Aleksandar Lazinica, founder and co-owner of the Croatian Submarine company.

A place on the Financial Times list cannot be purchased for any money, and the entire business has been analysed in detail over the past five years. To be considered for the list at all, the company had to have an annual revenue of a minimum of 100,000 euros and then at least 1.5 million euros back in 2019. Consequently, the company had to record growth above 35.5 percent. By comparison, Submarine achieved total growth of 221.4 percent, its company revenue in 2019 stood at a staggering 4.5 million euros, and had 77 employees.

In the year when the coronavirus spread across the world, the Croatian Submarine company exceeded the annual revenue they acheived in 2019 by an impressive 30 percent and it will be interesting to observe the order on that same list for 2021, writes N1. Of course, these are just a few of the strict criteria that companies had to meet, and with its results, Submarine became the only non-technological company from the Republic of Croatia to be listed, ranking as the 720th fastest growing company according to the Financial Times.

This is not the only recognition for the team behind Submarine. It is worth recalling that back in 2019 they entered the list of 50 places in which you can eat the best burger in the world according to the readers of the Big 7 Travel portal, which has a community of 1.5 million readers.

"We totally adjusted the way in which we do business way back at the very beginning of the pandemic. Agility and adaptation to new business conditions is the key to any company's success. Investing in knowledge, new technologies and strengthening the management team has borne fruit. We´re extremely proud of this recognition and I once again would like to congratulate all members of the Submarine team!¨ concluded Dragoljub Bozovic, the founder and CEO of Submarine.

Despite the ongoing pandemic and all of the economic knock-on effects which accompany it, the Croatian Submarine company opened two new restaurants. In 2021, they plan to open five more throughout Croatia, thus fulfilling their mission to provide pleasure and the enjoyment of organic burgers throughout the country.

For more on Croatian companies, follow Made in Croatia.

Tuesday, 12 March 2019

Međimurje Most Favourable Region for Doing Business - But Why?

Data continues to show that beautiful Međimurje County is the most developed county of continental Croatia after the City of Zagreb, the only one over 50 percent more developed than the EU average.

As Poslovni Dnevnik writes on the 12th of March, 2019, this year, Međimurje is among the winners in the category of creating a favourable entrepreneurial environment, the efficiency of the public administration, incentives and investment in infrastructure through EU funds.

The award was presented by one of the most prestigious and highly respected business media outlets in the world, the Financial Times, as part of its fDI Magazine, a publication that analyses global business activities across the world.

To briefly recall, last year, Međimurje was recognised as one of the top ten regions in the European Union. This new award was based on the analysis of the European Statistical Office (EUROSTAT), the Central Bureau of Statistics and other competent public authorities. According to the Economic Power Index, Međimurje is one of just two counties that recorded a two-place shift, and the only county in continental Croatia which GDP was higher in 2014 than it was back in 2008, resulting in GDP growth of 2.8 percent.

According to some of the measured criteria of the role of public administration, Međimurje County has, among other things, the lowest public sector expenditure in Croatia, and according to the data of the Institute of Public Administration and the European Commission (EC), it also boasts the highest grade according to the criteria for transparency of Croatian local and regional self-government units.

Furthermore, the official statistics for the second year distinguish Međimurje County as the region which invested the most in education, and the high degree of use of EU funds in creating quality health care conditions, investment in infrastructure, culture, and the protection of natural values (resources) ​​has enabled Međimurje's transition to a group of above-average developed counties compared to the average in the Republic of Croatia.

In addition to all of the above, Međimurje's economy recorded an unemployment rate of five percent, the largest amount of exports in when compared to imports, export growth of 14 percent, employment growth of five percent, total income growth of 11.8 percent, while gross profit of the economy was higher by 9.2 percent, net profit was 13.2 percent higher, which in turn increased revenues by 11.8 percent.

The efficiency of Međimurje's public administration was assessed through the speed of issuing building permits, rational budget management, the role of the regional development agency, the county energy agency and the technology innovation centre. Investment in the knowledge centre was created by creating the prerequisites for start ups by building new premises worth 12 million kuna, withdrawing EU funds for the construction of the "Metalska jezgra" research centre (32 million kuna) and the centre for competence in nechanical engineering with a total value of 50 million kuna.

The award ceremony was held in France, and the following warm words were said about Međimurje:

"The key to your success is in the synergy of public administration, the private sector and the [local] population. Međimurje County has once more, in this way and with the obtaining of a new prestigious award, justified its title and its image as the most entrepreneurial county in Croatia. All this is a result of systematic work, a clear strategy and the proactive promotion of investment opportunities. For this year's choice, fDi Magazine has analysed data on economic potential, the working environment, cost efficiency, infrastructure and positive business environment(s) in as many as 112 locations,'' said the director of fDi Magazine, adding that, at this point, the most important economic and social issue is Brexit, where the Financial Times devotes a lot of attention to the analysis of the future of the European Union after Great Britain leaves (if it ever actually does, that is).

Sarah Russis, head of fDi Intelligence and GIS Planning, emphasised the role of digitalisation as an important link to the region's economic development and planned investment.

"We're aware that investors, entrepreneurs and public administration officials are doing demanding jobs, and therefore it's important to recognise and support every innovation, result, and effort invested in creating a positive entrepreneurial environment, and the incentives that facilitate the ease of day-to-day business."

''This is award is proof of a systematic and thoughtful strategy. Our goal is to attract value-added investments that lead to better working conditions. It's important to emphasise that many existing foreign investors have decided to expand their capacities and have confirmed that Međimurje is a location for long-term business success. Key activities that Međimurje County conducts are post-investment care, attracting new investment in key sectors, a marketing strategy for attracting FDI investments to Medjimurje County, and education for small and medium entrepreneurship. The Redea institute for public development is also a kind of "one stop shop" institution that monitors entrepreneurs through all administration challenges,'' stated Darko Radanović.

"This award is, above all, a recognition to all those who create added value and contribute the most to economic results. The residents of Međimurje are productive, valuable and resourceful, entrepreneurs are struggling in very challenging business conditions, mayors are successfully attracting money from EU funds, all based on a clear vision, a quality strategy and set goals. That has to be valued and I'm glad it was recognised by magazines like the Financial Times. But we're not going to stop there, we understand this as a challenge to be even better because, after Brexit, many investments will be redirected to other EU countries and we intend to use [that opportunity]. This resettlement process [of investment] has already begun, the potential of Međimurje has been recognised, which has been proven by a reward for the second year in a row, so, I hope that Croatia will model itself on other countries and jump on the train, recognise that this is a new moment and take advantage of its chance,'' said Medjimurje County Prefect Matija Posavec.

Make sure to follow our dedicated business page for much more.

Wednesday, 13 June 2018

Ivanec: From Financial Times Recognition to Entrepreneurship Development Award

Ivanec is coming on leaps and bounds.

Friday, 6 April 2018

Rimac and Nanobit among 500 Fastest Growing Companies in Europe, Infinum Close Behind

Europe’s economy is recovering, slowly but surely, and joining those currently developing fast are three Croatian companies

Friday, 2 March 2018

Financial Times Ranks Medjimurje Among Top 10 Regions for Attracting Foreign Investment

Excellent recognition for one Croatian region when it comes to attracting foreign investments.

Monday, 11 December 2017

Financial Times Names Croatia as One of Best Destinations for Tourism Investments

Another good sign for the future of Croatian tourism.

Sunday, 10 September 2017

Financial Times: Ivanec Ranked Among Top Cities for Investment in Europe

Economic analysts of The Financial Times have placed Ivanec among the most desirable investment destinations of European towns with up to 100,000 residents.

Saturday, 27 May 2017

Gourmet Split: Mazzgoon Featured in Financial Times

The Split Gastronomy scene is on the rise and the world is starting to pay attention. The latest restaurant to stand out from the crowd is Split’s Mazzgoon Restaurant who was recently featured by the Financial Times, after a visit by New York-based chef, Daniel Boulud.