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U.S.-BALKANS SUMMIT

3/25/2011

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US - BALKANS BUSINESS SUMMIT was held from 23rd to 24th March 2011 in Maryland, Baltimore.

US - BALKANS BUSINESS SUMMIT was held from 23rd to 24th March 2011 in Maryland, Baltimore.

The overall purpose of the US – Balkans Business Summit was to help reinforce broad-based and effective cooperation among the countries in the Western Balkans, strengthen economic and commercial ties between the United States and the Region, and assist in the mainstreaming of all the Western Balkan countries into Europe.

Through various panel discussions and workshops the summit assisted in developing a dialogue to further increase trade and investment between the Western Balkans and the United States.

Almost 400 representatives of U.S. companies and firms from the Region, as well as political leaders, took part at the summit.

The official delegation of Bosnia and Herzegovina including the FIPA representatives was led by Bakir Izetbegovic, the BiH Presidency member.

The FIPA representatives also took an active part at the summit through presentation of several BH investment projects from different domains to potential investors.

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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