Organizing meeting between officials of the Council of Investors of FBiH and the Foreign Investment Promotion Agency of BiH (FIPA) it was made another step in strengthening the capacity of the Network for Cooperation toward faster and more efficient resolution of outstanding issues of investors in BiH they face with in their business.
![](/images/FIPA2.jpg?px=518)
The Program of Post-Investment Support to
Investors (Aftercare) was launched by FIPA in 2013 with the help of the
International Finance Corporation (IFC), member of the World Bank, establishing
institutional cooperation at all levels of governments through the Network for
Cooperation. The purpose of establishing the Network is to create a mechanism
for identification and resolution as fast as possible of outstanding issues of
investors in order to enable a growth and development of companies in our
country, and thus to contribute to the sustainable economic development of
local community. Every year the Network for Cooperation is getting new members.
"The representatives of the Network for
Cooperation regularly visit companies
with foreign capital. After identification of problem companies face with, the
Network initiate activities, within its competence, on amendments to the legal solutions in order
to resolve outstanding issues," explains Gordan Milinić, Director of FIPA.
"Since establishing by the end of 2016, members of the Network visited 260
companies, foreign investors, who invested so far in our country 3 billion and
725 million KM and employed 30,602 workers. It is encouraging the fact that 68.2%
of the total number of visited companies announces reinvestment in the
expansion of existing and introduction of new product lines and services,
"added at the end Milinić.
Establishing and activating the Council of
Investors of FBiH in April this year has further strengthened the capacity and
quality of the Network for Cooperation and has established complete
coordination and cooperation between institutions of the federal, cantonal and
local levels in the field of investment. Supported by the World Bank Group and
the British Embassy in Bosnia and Herzegovina, it is part of the planned
improvement of the business climate and competitiveness in the FBiH outlined by
the Reform Agenda.
"The Council is composed of representatives
of the federal and cantonal ministries, Chamber of Commerce of FBiH, Union of
Cities and Municipalities of FBiH and a representative of the Council of
Foreign Investors in BiH", said the Minister of Trade in the Government of
the Federation and President of the Council Zlatan Vujanović at regular
semi-annual meeting of the Network. "With this cooperation we are trying
to establish a partnership between all levels of governments in FBiH, to
strengthen dialogue through operational work on specific problems. We want also
to speed up the reform of the business environment by simplifying and
automating business registration, to accelerate procedures for obtaining
permits, to facilitate exports through continued reforms and strengthening
quality control harmonized with EU requirements. To protect investors in BiH
and their reinvestments, we need better laws and practices, "concluded
Vujanović.