FIPA Activities

FIPA Director at a meeting with the newly appointed Head of the Commercial Office at the Embassy of the Kingdom of Spain

10/5/2021

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-Improve cooperation in the field of renewable energy sources, tourism and infrastructure

The Director of the Foreign Investment Promotion Agency of BiH (FIPA), Milica Marković, received the newly appointed head of the Trade Office at the Embassy of the Kingdom of Spain, Mrs. Ana Maria Mazo Martinez and Trade Advisor, Ms. Montserrat Perez Ripoll, with the aim to inform them with the trends of foreign investments in BiH, and the current economic cooperation between the two countries with a focus on Spanish investments in BiH.

FIPA's experience so far in cooperation with potential investors from Spain shows that they were mainly interested in renewable energy sources, especially solar, then tourism, as well as the automotive industry where cooperation has been established with the BiH companies.

It was stated that Spanish investments are at a very low level, and that a way should be found to attract new investors from this country, on which FIPA and the Embassy of Spain will work together.

Trade Office of the Embassy of Spain and the Ministry of Foreign Trade and Economic Relations of Bosnia and Herzegovina in cooperation with FIPA, the Foreign Trade Chamber of Bosnia and Herzegovina, the Chamber of Commerce of the Federation of Bosnia and Herzegovina and the Chamber of Commerce of Republika Srpska, and with the participation of the Ministry of Energy and Mining Energy, Mining and Industry of the Federation of Bosnia and Herzegovina organized a workshop "Renewable Energy Sources in Bosnia and Herzegovina" which was held on March 23, 2021.

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

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