FIPA Activities

1st Business Forum held in Vitez

11/28/2016

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Organized by the Chamber of Commerce of FBiH, under the auspices of the President of FBiH Mr Marinko Čavara, the 1st Business Forum was held on 24 November 2016 in Vitez.
 

In the panel discussion: "European integration: Economic policy of BiH - challenges, opportunities, threats," the Deputy Director of FIPA Blaženka Mišković spoke about regional cooperation in the field of investments, stressing that the neighbouring countries and EU countries are the largest investors in BiH.

In addition to the tradition in the business cooperation, proximity of the EU market, the raw material and the resource base, Free Trade Agreements, Agreements on Avoiding Double Taxation and Agreements on the Promotion and Protection of Investments that BiH has signed with other countries have an important role.

The audience was addressed among others by the Minister of Foreign Trade and Economic Relations of BiH Mr Mirko Šarović, and the Deputy Minister of Foreign Affairs of BiH Mr Josip Brkić.

The forum was attended by hundreds of guests: businessmen, representatives of the entities’ and cantonal governments, mayors of municipalities, and media representatives.

 

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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