FIPA Activities

Business forums in Istanbul and Konya

10/24/2022

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-FIPA organized presentations of investment opportunities and projects from Bosnia and Herzegovina

The Foreign Investment Promotion Agency of Bosnia and Herzegovina (FIPA), led by the director Milica Marković, organized a Business Forum in Istanbul with the partnership of the Committee for Foreign Economic Relations of the Republic of Turkey (DEIK) and the chairman of the Turkish-BiH Business Council, Hasan Topaloglu, and the Ambassador of Bosnia and Herzegovina to Turkey, Adis Alagić. During the forum, projects from the field of energy, the construction of tourist complexes, the metal-processing sector and the food production sector were presented. Projects for which Turkish companies have expressed their interest were presented, which improves the effectiveness of such economic events.

As a result of this visit to Turkey, a visit of a large Turkish group to BiH was agreed with the aim to research locations and conditions for the construction of a solar panel factory.

In cooperation with the City of Konya, the Mayor Ugur Ibrahim Altay, the General Secretary and Honorary Consul of BiH in Konya Ercan Uslu and the Konya Chamber of Industry, a Business Forum was organized in Konya. FIPA representatives and Ambassador Alagić presented the basic information of the business environment and advantages for investing in BiH.

Director Marković pointed out that in the last two decades, the bilateral relations of the two countries have been significantly improved and that in 2021, Turkey is among the three largest investors in Bosnia and Herzegovina. The first Free Trade Agreement between BiH and Turkey was signed in 2003, which was expanded and enriched in 2019 and entered into force on August 1, 2021.

She also stated, among other things, that the lower price of electricity, lower taxes on company profits and the proximity of the EU market are key factors for investments of Turkish businessmen in Bosnia and Herzegovina.

The visit of Turkish companies interested in the tourism and catering sector, as well as the production of energy from waste and biomass, has been agreed.

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“.

 

FIPA Activities

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