FIPA Activities

Cooperative Network Facilitated Realization of BAM 75.7 Million and Removed 149 Identified Obstacles to Investment

11/22/2017

Today in Sarajevo the Report was presented on aftercare activities of the Foreign Investment Promotion Agency in Bosnia and Herzegovina – FIPA BiH for 2016, and a regular annual meeting was held of the Cooperative Network in BiH.

Namely, since 2013, within the framework of the Investors’ Aftercare Programme, the Cooperative Network has been established as the mechanism for cooperation between institutions at all the levels of government in BiH that are contributing to faster overcoming of obstacles in the course of realization of investment projects, and are, in that manner, actively contributing to improvements in the business environment within the framework of their competencies. Taking into account that the activities of the Cooperative Network are focused on the resolution of administrative challenges that the investors are facing, the Agency is, together with the representatives of units of local self-governance, entity, and state institutions, members of the Network, visiting investors active in BiH and performing structured discussions with them with the objective of collecting information and identification of administrative barriers for investment. Information collected in the field are being analyzed by FIPA BIH and then delegated to state, entity, and local authorities for deliberation, and their resolution is proposed in recommendations.

The Aftercare Program represents the first comprehensive activity with the objective of providing incentives to existing investors in Bosnia and Herzegovina for easier reinvestment and improvement of connections with the local economy. The Cooperative Network today has 55 members, and since 2013, to this day, 356 companies have been visited through the network, and the total of 690 open issues have been identified, of which 149 (22%) have been resolved successfully, 249 (36%) are in the process of being resolved, while the resolution of 292 (42%) issues require amendments of laws and regulations, or systemic reforms. Those issues are being delegated to the competent authorities through proposals and recommendations for improvements in the business environment and conditions for investing in Bosnia and Herzegovina, which represent an integral part of the presented Report. By advocating and actively participating in the resolution of the open issues, the Cooperative Network has, to this day, assisted 26 companies in overcoming administrative obstacles and successfully reinvesting BAM 75.7 million throughout Bosnia and Herzegovina.

According to the presented report for 2016, which the BiH Council of Ministers adopted in September of 2017, the Agency has, independently, or within the framework of the Cooperative Network, performed 55 visits to investors that have, thus far, invested EUR 432.4 million and employed 4,963 Bosnian and Herzegovinian workers, of which 3,299 newly employed. The Analysis of results has shown that more than a half of the total number of visited companies were interested in expansion and improvement of their operations, and that they would have invested additional EUR 407.3 million, and employed 1,795 new workers, if administrative barriers they were facing in their operations were removed. That is the very reason why it is of key significance that all the levels of government in BiH recognize the significance of activities that are being implemented through the Cooperative Network, and get involved in its work and provide maximum support in the resolution of the open issues that stand in the way of realization of those investment plans.

The International Finance Corporation IFC, a member of the World Bank Group, is, in cooperation with the Embassy of United Kingdom, and through the Project for attracting investments and improvement of business environment at the local level “LIFE” and Project for Improvement of Business Climate and Access to Markets “ICAM”, supporting the work and providing technical support to the Investors’ Aftercare Programme in BiH and realization of activities of the Cooperative Network in BiH.

Testimonials & Success Stories

„FIPA has made a very significant contribution to the promotion of our operations in BiH and I would like to thank all the professionals who supported the endorsement of foreign investments in Bosnia and Herzegovina”

Nihad Imamović, BiH Auto Industry

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