FIPA Activities

Visit to the company TUVADRIA Ltd Sarajevo

7/4/2023

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Representatives of the Foreign Investment Promotion Agency of Bosnia and Herzegovina (FIPA), the Ministry of Economy of Sarajevo Canton and the Municipality of Novo Sarajevo visited the company TUVADRIA Ltd Sarajevo.

The company was founded in 2006 in Sarajevo and is 50% owned by the German, globally known, certification company, TÜV Thüringen e.V.

Tuvadria Ltd Sarajevo deals with system certification in the field of industrial service, personnel certification, and operates throughout the region.

This respectable company also deals with the organization of seminars, considering that education is an integral part of successful certification, and contributes to greater success of both the organization and individuals.

TUVADRIA, with the help of its professional team and partners, provides its clients with appropriate seminars, trainings, courses, workshops, etc.

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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