FIPA Activities

Iranian companies are interested in investing in BiH

2/25/2016

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The Ambassador of the Islamic Republic of Iran HE Seyed Hossein Rayabi visited the FIPA Agency and met with the Director Gordan Milinić.

The Ambassador Rayabi said that after a long period of sanctions opportunities for economic cooperation with Bosnia and Herzegovina are opening, particularly with the private sector, and that Iranian companies are interested in investing in energy, agriculture, mining, metal and tourism sector and auto industry. They are also interested in participating in trade fairs organized in BiH.

He stressed the fact that there are great possibilities for cooperation in the field of tourism due to the fact that 5 million Iranians annually visit only Istanbul.

He also mentioned that the Iranians are waiting for 45 days to obtain the BiH visa, while they got Schengen visa for 7 days.

Considering the expressed interest in investing in BiH, the Director Milinić promised that the FIPA representatives will prepare all the necessary information about BiH, its potentials and investment opportunities that they will deliver them to the Embassy of Iran, and they will be available to all potential investors.

FIPA will also inform the Embassy of the planned fairs in BiH in order that Iranian companies could apply for participation.

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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