FIPA Activities

FIPA, MFA, MOFTER and FTC Representatives Meeting

6/1/2016

FOREIGN INVESTMENTS - PRIORITY TASK FOR ALL INSTITUTIONS

Representatives of the Foreign Investment Promotion Agency of BiH (FIPA), the Ministry of Foreign Affairs, the Ministry of Foreign Trade and Economic Relations and Foreign Trade Chamber of Bosnia and Herzegovina had on 1 June 2016 a working meeting dedicated to joint work on attracting foreign investors in BiH.

Taking into account the trend of decrease of foreign investments in BiH in recent years, participants of the meeting agreed that attracting foreign investment is a priority task of all BiH institutions. Enhancing cooperation to improve inflow of foreign investments and improving coordination between institutions on promotion of Bosnia and Herzegovina as a destination of interest to foreign investors, as well as common and coordinated presentations to promote investment potentials of BiH should contribute to increasing foreign investments, without which it will not be economic progress.

The meeting also focused on the strengthening of economic diplomacy of the Diplomatic and Consular Missions of Bosnia and Herzegovina in the world so that experts - economic advisers from the economic sector are being selected to work on finding foreign investors.

It was concluded to intensify participation in all investment conferences and forums in the world, and to invest more resources in the development of promotional materials and to conduct a joint campaign in foreign media called "Invest in BiH". It will also be organized so-called "Outreach" campaign in some countries.

It was also stressed the necessity of joint work of all institutions to create a favourable legal framework for attracting foreign investors, and to eliminate para-fiscal charges that block economic activity in the country.

 

 

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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