-The total value of the investment is 10,500,000 EUR
![](/images/ZEYTEKS.jpg?px=518)
The Foreign
Investment Promotion Agency of BiH (FIPA), in cooperation with the World Association
of the BiH Diaspora BiH, has found a new investor for the textile industry in
BiH. It is a Turkish businessman Zihni Yildiz who, together with Hasan Šehović,
president of the World Association of Diaspora, visited FIPA for an arrangement
on how to realize his investment.
Mr Yildiz is
the owner of two textile factories in Turkey and exports to the markets of
France, Germany and the United Kingdom. He has contracted production for the
next 5 years, so there is a great need for expansion of production. Complete
production in BiH will be intended for export.
In the first
phase, the investor will employ 250 workers with the intention of growth in the
coming years to 850 employees. The initial investment would be 3,500,000 EUR,
while the final plan is to invest 10,500,000 EUR in the development and
expansion of production.
The FIPA staff
informed the investor about the business conditions in BiH, especially
considering the tradition of BiH in the textile industry, a lot of experienced
staff in this branch and the existence of professional educational institutions
for new staff training.
The FIPA
Director Gordan Milinić promised to the new investor full support in ensuring
conditions for starting production. In this regard, FIPA will, in consultation
with local authorities, select and offer to the investor several investment
locations with all necessary infrastructures.
The plan is to
start production as soon as possible on an area of 12,000m2 with the aim to
expand production to 60,000m2.