FIPA Activities

The Minister of Industry, Energy and Mining of Tuzla Canton visited FIPA

3/9/2016

The Minister of Industry, Energy and Mining of Tuzla Canton Srđan Mićanović talked with the Director of the Foreign Investment Promotion Agency of BiH (FIPA) Gordan Milinić about Global Ispat Coke Industry Ltd. Lukavac (GIKIL), on the current situation in the company, activities and performance, as well as opportunities for improving the work of the factory through the search for a strategic partner.

The company has around 1 000 employees and has four operating industrial units: Coke Plant, Fertilizer Plant, Maleic Anhydride Plant and Energy Plant. Apart from producing high quality coke and coke by-product as crude benzene, crude tar and ammonium sulphate, the company also supplies the European market with mineral fertilizers. Its products are exported to the markets of Austria, Germany, Italy, Hungary, Serbia, Croatian, etc.

In addition to the internal electricity supply, Energy Plant Factory also supplies Elektroprivreda BiH, and produces and distributes decarbonised, demineralised and potable water for the needs of GIKIL and the citizens of the Municipality of Lukavac.

The Director Milinić first of all thanked the Minister Mićanović for visit, presented the activities of the Agency, noting that the New Year 2016, FIPA started very strongly and pragmatically in order to achieve as many contacts with potential foreign investors, companies and employers' associations abroad with the aim to try to motivate foreign investors to invest in BiH.

The work of FIPA on promotion of BiH and on seeking potential investors has support of Chambers of Commerce, Business Associations, competent institutions in BiH, Foreign Embassies and the BiH Embassies abroad.

FIPA is available to the Ministry of Industry, Energy and Mining of Tuzla Canton in terms of assistance in finding strategic partners.

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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