FIPA Activities

A DELEGATION FROM PAKISTAN VISITED FIPA

4/8/2011

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A business delegation from Pakistan, led by the Ambassador of Pakistan to Bosnia and Herzegovina, Mr. Jauhar Saleem, visited FIPA on 8th April 2011.

The business delegation was composed of the President the Lahore Chamber of Commerce and Industry (LCCI), Mr. Shehzad Ali Malik, the Senior Vice-President of LCCI, Sheikh Muhammad Arshad, the Vice-President of LCCI, Mr. Sohail Azher, the Chief Executive of the Board of Investment and Trade of Panjab (PBIT), Mr. Saadat Muzaffar, et other.

On this occasion, the representatives of the PBIT gave an overview of the investments possibilities in the Region of Pinjab, which is one of the most developed Region in Pakistan and one of the leading Regions in production of food. The PBIT Agency is a member of WAIPA and a member of the WAIPA’s Steering Board.

The FIPA representative, Slavica Korica, informed the guests on the FIPA goals, missions and activities and proposed among other signing of a Memorandum of Understanding and Cooperation between the two Agencies.

The representatives of the Lahore Chamber of Commerce were interested in possibilities for cooperation in the textile industry, the military industry and the food processing industry.

The FIPA representative, Maida Becirovic, informed the guests on possibilities for investing in free zone and on existing incentives.

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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