FIPA Activities

Awards for BiH at the World Annual Investment Meeting in Dubai

4/9/2019

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-FIPA BH BEST AGENCY, AL SHIDDI TRADING BEST INVESTOR

At the World Annual Investment Meeting (AIM), which is being held in Dubai from 8 to 10 April, with more than 20,000 people from the world business participating this year, the Foreign Investment Promotion Agency of BiH (FIPA) has been declared the best Agency for Attracting Foreign Investments for Central and Eastern Europe. At the same time, Al Shiddi Trading was named the best investor with his Swissotel Project in Sarajevo.

The event is held under the auspices of HE Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President of the United Arab Emirates and Prime Minister and Ruler of Dubai.

The awards were received by Gordan Milinić and Abdullah Mohammed Al Shiddi, and the Ambassador of BiH to the United Arab Emirates Šerif Mujkanović was also present at the ceremony.

At a special ceremony, AIM Investment Awards were awarded to selected Investment Promotion Agencies (IPAs) from every region of the world as recognition for their excellent work in successfully attracting significant and useful direct foreign investment projects in 2018, and contributing to economic growth and market development.

As a criteria for selecting the best IPAs and investment projects, a commission of 9 international experts was established, who evaluated each of the nominated projects that were short-listed, using criteria such as: size of investment, effects of investments on economic development, knowledge transfer, investor service process, sustainability and links with the local community and the economy, and the impact of digitization on attracting foreign direct investments.

Representatives of institutions and companies from 150 countries of the world from different sectors such as food production, metal processing, energy, tourism, real estate, finance, construction, information technology, pharmacy, participate in this event, including representatives of IPAs from around the world who participate there in order to establish new contacts and to exchange experiences related to foreign investment policies, to improve competitiveness, promotion strategies, incentives for foreign investors.

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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