FIPA Activities

INTENSIFY THE WAY TO ANIMATE POTENTIAL INVESTORS

4/22/2019

-Newly-appointed Ambassadors of BiH to FIPA

Within the preparations for the diplomatic mission, the newly-appointed BiH diploma Slaviša Ćeranić, Ambassador of BiH to Romania, and Siniša Berjan, Ambassador of BiH to Japan, visited FIPA in order to have information on the Agency's competencies, cooperation with foreign investors and current activities at field of economic cooperation with the mentioned countries.

FIPA Director Gordan Milinić informed Ambassadors about the work of the Agency in the field of foreign investment, work with and support to foreign investors in BiH, currently available investment projects, and sectors that could be of interest to investors from Romania and Japan.

He also referred to the growth trend of foreign investments in 2017 and 2018 when we recorded BAM 800 million, highlighting expectations of continued growth during 2019.

More significant effects of the economic diplomacy are expected in the field of exports from BiH and the finding of investors for BiH. It is therefore very important, after taking office, to establish contacts with economic and regional chambers of commerce, as well as associations of entrepreneurs and sectorial associations in order to present the potentials of BiH, as well as intensify the way to animate potential investors.

According to the official data of the Central Bank of BH, the current investments of Romania in BiH amount to BAM 3.4 million, while the most important Romanian companies are Steel Mehanika, Corrado Penna and Astra Invest.

No significant foreign investment in BiH was registered in Japan. The effects of several visits of Japanese economic delegations in BiH in the past two or three years are expected in the near future. It is important to note that Japan is one of the largest donors in BiH.

Importance of organizing business meetings between BiH and foreign businessmen has been highlighted in order to strengthen economic ties, increase investments, and follow economic events in order to involve BiH business and businessmen in new business flows.

It was agreed that Ambassadors organize investment forums for BiH in the near future.

 

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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