FIPA Activities

Aftercare visit the company Print-GS Ltd. Travnik

10/20/2016

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Representatives of the Foreign Investment Promotion Agency of BiH (FIPA), the Municipality of Travnik and the Ministry of Economy of Srednja Bosna Canton visited on 14 October 2016 the company Pring-GS doo Travnik within the Aftercare Program.

The company Global Sourcing from Germany, which has successfully privatized ten years ago Tvornica mašina (Machines Factory) in Travnik, established a new company named Print-GS. The pressroom of Print-GS employs 38 workers and produces various types of printed materials such as catalogues, cardboard packaging, posters, binders, books, etc.

The Print-GS company is majority owned by the German company "Global sourcing - Agentur fur Technische Erzeugnisse" GmbH from Regensburg. They invested so far 10 million BAM in repairs and construction of new production facilities and the purchase of equipment. The whole factory employ 250 workers and the majority of production is exported to Germany.

The Director of the company Print-GS Mr Zoran Gazibarić, production manager Mr Željko Milovanović and Mr Asim Hidić from the commercial sector informed representatives of the Network for Cooperation for post-investment support to investors in BiH about their plans for the production expansion as well as difficulties they face.

The company needs land to build a new factory of 3 000m² and at the meeting it was agreed a coordination of activities of the Municipality of Travnik, Srednja Bosna Canton and FIPA in order to reach the most appropriate solution that would enable the company to realize new investments and production.

They expressed dissatisfaction with the new Book of Rules amending the Law on Income Tax which has reduced the non-taxable percentage for meal at 1% of the average wage in FBiH, as well as with the new Law on Corporate Income Tax, which will have major repercussions on both the standard of employees and the future development plans of the company.

Printing industries in BiH have been achieving every year better results, but due to the products with higher added value, representatives of the company Print GS estimate that this industry needs more important support from all levels of government and of the harmonisation of education system in order that young educated people can follow technological and design trends.

 

 


 

 

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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