FIPA Activities

Novalić and Milinić: Attracting foreign investments is a common task

3/23/2016

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At the meeting with the Prime Minister of the Federation of BiH Fadil Novalić with a delegation of the Foreign Investment Promotion Agency of BiH (FIPA), led by the Director Gordan Milinić it was agreed a series of joint activities of the Government of the Federation of BiH and FIPA on attracting foreign investments to Bosnia and Herzegovina in order to reduce the number of unemployed people and to increase living standards of citizens.

The Government of Federation is preparing comprehensive reforms in the field of ​​business environment, which will accelerate the BiH administration in providing services to foreign investors, accelerate business registration, issuing work and construction permits and other documents. Laws will regulate the system of One-Stop-Shop business registration and the work of companies and the work of commercial courts.

The Director Milinić informed the Prime Minister on the business plans of FIPA, the support provided to the Agency by the Council of Ministers and foreign embassies in BiH, as well as on the established contacts with potential foreign investors who visited FIPA and who have expressed interest in investing in BiH.

On behalf of the Government of FBiH, the Prime Minister Novalić expressed full support to the efforts of FIPA to establish contacts and to find foreign investors and pointed out the need for joint action and cooperation on these issues.

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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