H.E. the Ambassador of the Kingdom of Saudi Arabia in Bosnia Hani A. Mominah visited the Foreign Investment Promotion Agency of BiH (FIPA) on 21 January in order to be familiarized with the work of the Agency and its activities, and to announce the visit of a high state delegation of the Kingdom of Saudi Arabia to Bosnia and Herzegovina, which is planned for 26 January 2016.
Mr. Milinić informed the Ambassador Mominah on activities that the Agency carries out as coordinator of activities in the field of attracting foreign investments in BiH, on cooperation with foreign investors, the promotion of the country, and the preparation and collection of projects in cooperation with relevant institutions in BiH.
He noted that the competent institutions in BiH are constantly working on adapting legislation to EU standards, and informed the Ambassador on the status of foreign investors in BiH, guarantee instruments relating to foreign investors, incentives for foreign investment, and the military industry.
The Ambassador Mominah pointed out that the Law on Labour and the Law on Foreign Investment in BiH, long procedure for of company registration, as well as the lack of One-stop shops represent obstacles for investors from the Saudi Arabia.
Within the visit of the state delegation of the Kingdom of Saudi Arabia, the FIPA Agency will organize on January 27 several presentations on the BiH the legal framework for foreign investors, general indicators of foreign investments in BiH, as well as the economic sectors of transport, military industry, tourism and energy.