FIPA Activities

The newly appointed BiH Ambassador to Croatia visited FIPA

9/13/2019

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-Croatia occupies the 2nd position by the amount of investments in BiH

In preparation for the diplomatic mission, the newly appointed BiH Ambassador to Croatia Aleksandar Vranješ visited FIPA to get information about current activities in the field of economic cooperation between the two countries with a focus on investments from Croatia to BiH.

The FIPA Director Gordan Milinić informed the Ambassador on the amount of registered investments from Croatia, noting that in the period from May 1994 to December 2018, according to the Central Bank of Bosnia and Herzegovina, the Republic of Croatia invested Bam 2.293 million in Bosnia and Herzegovina and that is the second largest investor with a share of 16% in total investments registered so far.

He also referred to the trend of growth of foreign investments in 2017 and 2018, pointing out that in the first quarter of this year 231.2 million bam of foreign investments was registered, which reflects the same level from the previous year.

He added that after taking on diplomatic duty, the ambassadors is expected to establish contacts with chambers of commerce, including regional ones, business associations and sectorial associations in order to present the potential of BiH, as well as to establish contacts and to animate new potential investors.

In the total amount of investments from Croatia, investments in the financial and insurance sectors participate with 46.4%, in the manufacturing industry 19.6%, and in the trade sector 15.4%.

The largest investors are HT-Croatian Telecommunications, Agrokor, Atlantic Grupa, Belupo, Kraš, Dukat and others.

It was agreed that the Ambassador try to organize an event in the next year in order to promote the BiH economy.

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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