FIPA Activities

Participation of FIPA at the Forum of the BiH Diaspora in Switzerland

11/29/2016

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"Forum of the BiH Diaspora in Switzerland" was held on 26 November 2016, organized by non-governmental organization "i-platform - Diaspora for the development of Bosnia and Herzegovina" in cooperation with the Swiss Agency for Development and Cooperation (SCD).

The forum was dedicated to establishing of "i-platform", to presenting its further development, improving successful cooperation between diaspora and BiH, as well as to the contribution of the diaspora to the economic development of BiH.

Within the Panel on Investing in BiH, the FIPA representative PhD. Maida Bećirović presented activities of the Agency, and pointed out that FIPA is a service of diaspora in their investment and starting business in Bosnia and Herzegovina.

She also presented advantages for investing in Bosnia and Herzegovina, as well as attractive sectors for investing with concrete projects for investments.

Diaspora in Switzerland has shown a great interest in investing in BiH. It was interesting to hear on this occasion representatives of the diaspora who already have business activities in Bosnia and Herzegovina, who pointed out that, despite some shortcomings, BiH is a country that offers excellent opportunities for foreign investors.

The significance of this event is confirmed by the fact that the forum was attended by over a hundred participants, members of several associations of Diaspora in Switzerland, business people as well as the Ambassador of Bosnia and Herzegovina Anđelko Grahovac, the Ambassador of Switzerland in Bosnia and Herzegovina Andrea Rauber Saxer, as well as representatives of the Swiss Agency for Development and Cooperation.

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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