FIPA Activities

Visit to foreign companies in Visoko

3/22/2018

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On Tuesday, March 20, 2018, within the post-investment support to foreign investors two meetings were held with the representatives of companies Geoviva Ltd Visoko and Paradajz Ltd Visoko located in the Municipality of Visoko

In addition to the representatives of the Foreign Investment Promotion Agency of BiH of BiH (FIPA), as members of the Collaborative Network, the meeting was attended by Suada Koljenović and Dženita Begić on behalf of the Municipality of Visoko.

Firma Geoviva d.o.o. is owned by a German investor and has been registered in Bosnia and Herzegovina since 2013. It currently has 14 employees, and in the following period they plan to expand the existing tourist capacities, and to increase the number of employees. The business environment in BiH is assessed as good, and the services and support they received from institutions at various levels of government, are in line with their expectations.

Another visited company Paradajz Ltd is owned by the Arabian investor Alkasim Bedde, who has been staying and successfully operating in the territory of the Municipality of Visoko for five years. He opened the same company in Austria, and the main headquarters is in Dubai. The production of agricultural products, trade and storage is the core business of the company, and it currently employs 7 workers. They are satisfied with the business environment in BiH, and the reinvestment and expansion of existing capacities is their plan for the next three years.

The tourism sector is one of the growing sectors in BiH, which is confirmed by the diversified offer of tourist capacities and the natural beauty of our country, and investments in the mentioned sector bring positive business results.

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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