FIPA Activities

FIPA at a meeting with the newly appointed ambassador of BiH in Libya and Tunisia

8/21/2024

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- It is necessary to intensify the promotion of BiH potential in the Maghreb area

The BiH Foreign Investment Promotion Agency (FIPA) Representatives Dika Mustafić-Cokoja, Jovana Anđić and Nina Pobrić had a meeting with the newly appointed BiH Ambassador to Libya Senad Mašović and the non-resident ambassador for Tunisia.

During the meeting, they discussed the competences and activities of FIPA, the advantages of the BiH business environment for foreign investors, as well as attractive sectors for Libyan investors such as the steel and metal industry, construction and engineering, food, wood industry and tourism.

They discussed the initiated procedure for signing the Memorandum on cooperation between FIPA and the partner Libyan agency, and the agreed organization of a business forum with the aim to present investment potentials and improve trade cooperation between BiH and Libya.

More than 30 local companies were operating in Libya, while only ten are currently active. The stabilization of conditions in Libya will certainly contribute to the conclusion of new business deals.

Companies from BiH are increasingly showing interest in the market of the Maghreb countries, and FIPA proposed to the competent institutions to consider possibilities for signing a free or preferential trade agreement. 

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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