FIPA Activities

INTENSIFY INVESTMENTS THROUGH HONORARY CONSULES

10/16/2018

Send document by e-mail

From:
To:
Comment
-There is an interest of Indian businessmen to invest in BiH

In preparation for the diplomatic mission, the newly-appointed Ambassador of BiH to India, Muhamed Čengić, visited the Foreign Investment Promotion Agency of BiH (FIPA) in order to have information about economic cooperation between the two countries.

At the meeting, it was pointed out that total investments from the Republic of India in BiH are modest, amounting to 1.7 million BAM and that they are realized mainly in production and trade.

During 2017 and 2018, FIPA had several meetings with businessmen from India who expressed interest in opening the Information Technology Faculty in BiH, as well as in investments in the health, spa, agriculture and wood sector of BiH. After FIPA, interviews meeting were continued with other relevant institutions for these sectors.

The FIPA Director Gordan Milinić, in addition to providing basic information on the competencies and activities of the Agency, emphasized the importance of foreign investments for the economic development of BiH. He invited Ambassador Čengić to more actively engage in establishing contacts with India's regional chambers of commerce, as well as with Honorary Consuls of BiH in India who are well-known businessmen and are actively working to promote BiH.

Besides, it is necessary to consider the possibility of organizing a business event if there is an opportunity for it, where FIPA would present opportunities for investing in BiH.

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“.

 

FIPA Activities

Follow us
Investment Project