FIPA Activities

Visit to the company Zaharex Ltd

4/15/2013

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Within the Aftercare Program for 2013, the representative of FIPA Nina Pobrić, the Mayor of the Municipality of Srebrenik Sanel Buljubasic with his advisor for investment and monitoring Halid Kovac, and representatives of the Ministry of Development and Entrepreneurship of Tuzla Canton Mirela Omerovic and Erna Sulejmanovic visited on 12th April the company Zaharex ltd Srebrenik.
 

The meeting was held with the owner of the company Mr. Harun Hasanovic.

Zaharex is a leading manufacturer of mattresses, Bonel core wire, foam and bedding, blankets, down blankets, pillows, duvets and mattress toppers in Bosnia and Herzegovina.

With their representatives it was discussed the experiences of doing business in Bosnia and Herzegovina, obstacles and problems that are encountered in business, and on their proposals for improving the business environment and future plans.

As with previous visits, this one is realized through the network of cooperation for post-investment support to foreign investors in BIH, which consists of the Foreign Investment Promotion Agency (FIPA) as coordinator of activities, competent institutions of the Federation of BIH, cantons and municipalities, which is foreseen by the Agreement on Cooperation between the Council of Ministers and the International Finance Corporation (IFC) on a project to improve the business environment in BIH.

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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