At the invitation of the organizer of the World Bank Group, the FIPA Director Gordan Milinić participated on 1 November 2016 at the Investment Policy Forum in Washington.
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During the panel on the
Systemic Investor Response Mechanism, the Director Milinić had a presentation on the
practice in Bosnia and Herzegovina, the Network of Cooperation for Post-Investment
Support to Foreign Investors, as well as on the reinvestments and retention of
existing foreign investors in BiH.
The Director of FIPA presented good practice
from BiH and shared experiences with other participants due to the excellent
results of the Network of Cooperation achieved in the previous period.
The Network of Cooperation currently consists
of 27 members (representatives of municipalities, cities, cantons and competent
entities' and state ministries), and it was planned its further expansion. The Post-Investment
Support to Investors Programme is the first comprehensive program with the aim to
motivate existing investors in BiH to reinvest and to improve links with the
local economy.
Members of the Network of Cooperation visited in
the period January 2013- June visited 240 companies, out of which 73.5% have
announced new investments, then it was identified 520 outstanding issues /
problems of companies, out of which 129 (25%) were resolved, for 195 (38%) are
underway of resolving, and 162 (31%) require a longer period of time to be resolved.
For this reason, according to this Programme, FIPA prepares each year a Report
to the Council of Ministers of BiH proposing measures in order to improve
regulations in order to have new investments and retain existing ones.
Investment Policy Forum was organized at a very
high level, with the participation of senior officials of the World Bank,
representatives of state institutions of a large number of countries, including
Mrs Lisa Kubiske, Deputy Assistant Secretary of State for International Finance
and Development, United States of America.
After Forum, Mr Milinić had a working lunch
with senior officials of the World Bank, discussing, among other, the further
improvement of the Systemic Investor Response Mechanism in Bosnia and Herzegovina
as one very successful mechanism.
Also, the Director of FIPA on this occasion had
meetings with potential investors and informed them on competitiveness and
profitability of BiH and current projects and investment opportunities.