FIPA Activities

Investors from Kuwait visited FIPA

3/27/2017

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The Director of the Foreign Investment Promotion Agency of BiH (FIPA) Gordan Milinić talked with Kuwaiti investors and representatives of the company Al Dar National Real Estate on infrastructural projects they are interested in such as: projects of highway, railways, airports, and projects of food production, hotel, spa centres, as well as on their experience in business in Bosnia and Herzegovina.

Kuwaiti investors who are running business in BiH, emphasize that investors from Kuwait would invest more in BiH if the business environment is more favourable and simple, and spoke about their experiences and difficulties they had as of establishing company to realization of the project.

They overcame obstacles, but emphasize that investors go where it is easier to do business.

The Director Milinić informed the guests that all levels of governments are working to improve the business environment, which is imperative on the road to the EU, and without which BiH can’t achieve significant economic growth; that FIPA is working on proposing measures to improve the business environment, and that in 2016, it proposed 41 measures to improve the business environment in order to make BiH more competitive investment destination.

He stressed the fact that a study undertaken by the Foreign Investors Council (FIC) showed that 80% of foreign investors in Bosnia and Herzegovina continue to invest, what encourages us further to continue implementing the necessary reforms in order that the number of foreign investors is much higher.

 

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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