FIPA Activities

The Director of KfW Development Bank Office in Sarajevo visited FIPA

3/16/2016

The Director of KfW Development Bank Office in Sarajevo Matthias Schmidt-Rosen visited FIPA and talked with the Director Gordan Milinić about projects that KfW will financially support in BiH and pointed out that the funds in the amount of 60 million EUR were provided for wind farm of Hrgud.

Thus KfW continues to support electro-energetic projects in BiH after wind farms of Mesihovina and Podveležje for which contracts were signed in the amounts of 72 and 65 million EUR.

KfW was also financially supported projects of drainage, waste water treatment and water supply in Bihać, Zenica, Tuzla and Banja Luka based on the Cooperation Agreement signed by the Government of Germany and the Council of Ministers of BiH.

The Director Milinić pointed out that the job of attracting foreign investment is complex task, that it requires the joint efforts of the relevant institutions of Bosnia and Herzegovina, that FIPA meets with potential investors, that it presents investment projects, it cooperates with foreign embassies in BiH, as well as the embassies of Bosnia and Herzegovina abroad in order to find new contacts and potential investors.

The Director stated that FIPA works together with the Council of Ministers of BiH to remove barriers for investors and that the common goal is to reduce unemployment in the country and to improve living standards, and he invited Mr. Rosen to direct potential investors to the Agency.

The Director Schmidt-Rosen expressed his full support to the FIPA work and pointed out that KfW will try, through its lines, to animate as more as possible German companies for investing in BiH. 

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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