FIPA Activities

Romanian business delegation to FIPA

3/22/2019

-MOU WAS SIGNED IN ORDER TO INCREASE INVESTMENTS

Director of the Foreign Investment Promotion Agency Gordan Milinić spoke with a business delegation from Romania, led by President of the Chamber of Commerce and Industry of Prahova Aurelian Gogulescu on the possibility for economic cooperation between the two countries, with a focus on foreign investments.

Mr Milinić met the Romanian delegation on the activities and responsibilities of the Agency, and generally on cooperation with foreign investors, the support it provides in the investment process, and after the investment has been completed.

At the meeting, Memorandum of Understanding was signed between the two institutions with the aim to connect entrepreneurs, establish partnerships, strengthen economic cooperation and increase investments.

Total amount of Romanian investments in BiH amount to 3.4 million BAM, and the most important Romanian companies in BiH are engaged in services, production and trade.

The Romanian delegation was represented by businessmen from the fields of metal industry, tourism, production of mining equipment, marketing services and printing, etc.

FIPA has been successfully cooperating with the Prahova Chamber of Commerce for several years now. In 2017, the Second Business Forum in Romania was held where the representative of FIPA, in the presence of Romanian businessmen, Ambassador of Bosnia and Herzegovina in Romania, had a presentation on investment opportunities for investing in Bosnia and Herzegovina. As a result of that presentation, it was organized today's visit of the Romanian delegation to Bosnia and Herzegovina.

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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