The Director of the Foreign Investment Promotion  Agency of Bosnia and Herzegovina (FIPA) Milica Marković and the Chargé d'Affaires of the Embassy of the State of Libya in Bosnia and Herzegovina Al Motasem Bellah Dhawi discussed business meetings planned for the end of the year and re-establishing and strengthening investment and economic cooperation between Bosnia and Herzegovina and Libya.

Visit and meetings of the FIPA Director with the President of the Libyan Chamber of Commerce and a delegation of businessmen are planned, as well as a meeting with the Director General of the Libyan State Agency for Investment Abroad. The State Agency acts as Libya's Development Fund, which invests in attractive projects abroad. The largest number of projects so far have been implemented in Malta, Italy, African countries and the Middle East. The goal of their imminent arrival at FIPA is to explore investment opportunities in Bosnia and Herzegovina.

In this regard, Director Marković informed the representatives of the Libyan Embassy about the advantages of Bosnia and Herzegovina for investing. Marković pointed out that the energy sector is one of the strongest economic sectors in Bosnia and Herzegovina with a long tradition and huge potentials and opportunities for further development and investments.

Hydro potential in BiH is 6,000 MW and is used in the amount of only 36%.

Bosnia and Herzegovina has natural resources and conditions that create a top environment for agricultural production, including the availability of labour, land and other natural resources, as well as a favourable climate. Huge agricultural potentials have only been partially exploited despite significant human and natural resources. Tourism, neglecting the pandemic period, is in strong development and offers plenty of investment opportunities in winter and mountain tourism, eco-tourism, culture and religious tourism, then health and spa tourism, as well as sea and adventure tourism.

In BiH, strong growth is recorded in the auto parts sector, metal processing and wood sector, as well as the IT sector.

Libya has severe economic consequences due to the revolution and war of 2011, but it is still a country that generates significant revenues from oil sales and a country with great economic potential. Therefore, there are significant opportunities for the renewal of economic cooperation in the field of investment and strengthening exports.

The announced meeting with the Libyan State Investment Agency will be a good basis for new investments and the realization of projects that FIPA will present during the meeting, planned for mid-December this year.