FIPA Activities

The Ambassador of Pakistan to BiH visited FIPA

2/26/2016

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-Long-term procedures for issuing visas are an obstacle for a greater presence of Pakistani investors in BiH.

The Ambassador of Pakistan to BiH HE Muhammad Yousaf visited the FIPA Agency and discussed with the Director Gordan Milinić and his associates the possibilities for improving economic cooperation between the two countries, especially possibilities of new Pakistani investment in BiH.

Mr Milinić informed the Ambassador Yousaf on the activities and responsibilities of the Agency, noting that FIPA is available to all investors from starting operations, i.e, from the company registration through assistance related to the issuance of paperwork to the realization of the investment, as well as for removing obstacles in business. He stressed that FIPA is connected to all relevant institutions starting from municipal, cantonal and entities level over to the institutions at the state level, with the aim to cooperate together in creating a favourable environment for attracting foreign investment.

FIPA is ready to provide potential Pakistani investors with information on all important indicators, business environment, legal framework, attractive sectors and available investment projects and locations.

The Ambassador Yousaf said that Pakistani investors are interesting in Bosnia in Herzegovina, but long-term procedures for issuing visa of BiH is for businessmen of Pakistan one of the obstacles for a greater presence of Pakistani investors at the BiH market. However, there are few examples of successful investments, including the dairy Milgor Goražde. The Embassy plans to inform the Pakistani businessmen on the current privatizations in BiH this year and to invite them to participate in.

There are great possibilities and opportunities for cooperation in the timber industry, furniture manufacturing, textile and plastic ware, and for these reason the BiH companies like Poly, Prevent, Bingo and Kismet will visit Pakistan in April 2016.

The FIPA Agency will be in a constant contact with the Embassy of Pakistan and will be at the service to potential 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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