The company director Bioil doo Doboj Ismet Ozturkmen visited the Foreign Investment Promotion Agency of BiH (FIPA) in order to informe the management of the Agency, which is the main address for foreign investments in BiH, about administrative obstacles faced in the process of commissioning the plant of refined oil in Kotor near Doboj. The Turkish investor rented premises in the Municipality of Doboj under certain conditions to run the plant, but the municipal administration doesn’t respect the contract neither the owner of the premises. Also, the investor is waiting eight months for obtaining several permits to finally start the process of production, despite the fact that he has fulfilled his obligations under the contract, such as the employment of 60 people, including administration.

FIPA has taken on the obligation to intervene in this case before municipal services, including the relevant ministries in order that investor finally starts working.

FIPA believes that such cases are damaging the image of BiH as an investment location, at a time when each new job created is precious for us and when we have a chronic lack of foreign investors.

However, despite bureaucratic obstacles, the investor plans to continue to expand his investments in Bosnia and Herzegovina to the agricultural sector, and to the cultivation of sunflower and milling facilities for the production of flour that he wants to open in BiH, then in hydropower projects up to 5mW/h. He is also interested in buying some of the existing production facilities for faster starting up activities.

For those projects, the investor has provided funds amounting to 15 million BAM.

FIPA will provide investors with all currently available projects in which he expressed interest and will accompany investors through all stages of the project implementation in order to avoid problems of long waiting for the issuance of certain permits.