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The Council of Foreign Investors in Bosnia and Herzegovina awarded a note of appreciation for cooperation to FIPA

7/2/2024

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-Successful cooperation in improving the business environment and promoting BiH

The Council of Foreign Investors in BiH (FIC) marked on June 27, 2024, in the Sarajevo City Hall, 18 years of successful work in Bosnia and Herzegovina. About 200 people attended the event, including representatives of the authorities and companies.

During the past 18 years, FIC has become an important factor in improving the investment climate in our country, whose member companies have invested over 9 billion BAM and employed more than 20,000 workers.

During the solemn ceremony, FIC awarded notes of appreciation to institutions and companies with which they had excellent cooperation, which are oriented towards a common goal and dedicated to the promotion of the country, investment potentials and work on improving the business environment.

A note of appreciation was also awarded to the of Foreign Investment Promotion Agency in Bosnia and Herzegovina (FIPA), which was received on behalf of the Agency by Nina Pobrić, Head of the Promotion Department.

FIPA expresses great gratitude to FIC for its cooperation so far and remains open to jointly promoting successful business stories and investments in the future, and working to eliminate all open issues faced by 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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