FIPA Activities

SECRETARY GENERAL OF UNWTO, Mr. TALEB RIFAI IN SARAJEVO

7/13/2010

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The Secretary General of UNWTO (World Tourism Organization), Mr. Taleb Rifai, paid three-day working visit to Bosnia and Herzegovina from 12th to 14th July 2010.

This visit was organized with intention to support institutions of Bosnia and Herzegovina in their efforts to develop tourism industry, improve competitiveness and achieve sustainability in this sector, which could be an important pillar of the global efforts to enhance economic growth, infrastructure development, and particularly job creation.

During his stay in Bosnia and Herzegovina, the Secretary General of UNWTO had numerous business meetings with high ranking governmental officials of our country, including a meetings with the Chairman of the Council of Ministers of BiH, the Minister of Foreign Trade and Economic Relations of BiH, the Entity Ministers of Environment and Tourism, the representatives of Ministry of Foreign Affairs, District Brcko and other institutions linked with tourism business.

FIPA took an active part in reception and informing the UNWTO Secretary General, particularly in regard to the presenting the tourism potentials in Bosnia and Herzegovina. Ms. Jelica Grujic, the FIPA Director, had a particularly shaped presentation of investment opportunities and investment projects in this sector, on 13th July, 2010 at Jahorina.

Testimonials & Success Stories
 

Global Investment Promotion Best Practices 2012 of the World Bank has cited one example of support that FIPA provides to foreign investors who are running business in Bosnia and Herzegovina in order to contribute to increase the flow of foreign capital in the country.

The article said:  

„The Foreign Investment Promotion Agency (FIPA) of Bosnia and Herzegovina was an early convert to the idea of providing facilitation services to agribusiness investors as a way to maximize the positive impact of agriculture on the economy.

In 2007, for example, FIPA assisted a Dutch food processing company establish a US$1.6 million production facility to process unused milk ingredients into value-added products in Sarajevo to sell to markets in Eastern Europe and the Middle East.

As part of its aftercare program, FIPA assisted the company with its expansion plans. Among other things, the agency helped facilitate veterinary permissions, navigate various bureaucratic hurdles and played an important role in securing funding for the company’s expansion. It also helped develop a network of local suppliers and customers. As a result of these efforts, the Dutch investor developed stronger links with the Bosnian economy, thus increasing the positive spillover effects on the local economy.

Currently a new investment to establish a drying facility for milk powder is under way. This will further expand the processing facilities of unused milk ingredients. This additional planned investment is worth approximately US$2.8 million, thus nearly trebling the company’s original investment in the country“.

 

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