FIPA Activities

FIPA presentation at the Business Forum Slovakia-Bosnia and Herzegovina

11/22/2016

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During the official visit of the Minister of Foreign and European Affairs of the Slovak Republic Miroslav Lajčák to BiH, Foreign Trade Chamber of Bosnia and Herzegovina organized on 21 November 2016 in Sarajevo a Business Forum Slovakia-Bosnia and Herzegovina.

On this occasion, Nina Pobrić, Head of the FIPA Investment Promotion Department, had a presentation on the business environment, the benefits of Bosnia and Herzegovina for foreign investors and investment potentials of the country.

A delegation of 19 representatives of companies and business people from the Slovak Republic had the opportunity to hear information about Agreements on Free and Preferential Trade which BiH has signed with many countries, then information about the tax system, the amount of operating costs, available labour force and attractive sectors and projects for investing.

After the Business Forum, the FIPA representative had meetings with Slovak companies.

The Director of the Slovak company Credo Agency, which operates in BiH, Daniel Dobrota talked about business conditions in the Balkan countries, where he has his companies engaged in renewable energy. He explained that the procedure for obtaining work permits is similar in all European countries, but as a personal experience, he pointed out that it is easier to get this procedure in the Balkan countries then in Slovakia.

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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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