FIPA Activities

FIPA visited Bosnian-Podrinje Canton

11/22/2023

Send document by e-mail

From:
To:
Comment
FIPA visited Bosnian-Podrinje Canton FIPA representatives visited Bosnian-Podrinje Canton, where at a meeting with the Prime Minister Edin Ćulov, the Mayor of the City of Goražde Ernest Imamović, the Secretary of the Ministry of Economy Emir Hodović, and the representative of the City of Goražde Asima Džambegović discussed the investment potential of this canton that can be promoted to foreign investors, business conditions and measures for improving the business environment.

The city of Goražde is known for numerous successful companies that operate in industrial zones and that cooperate with renowned global companies, thus contributing to the recognition of the name of Goražde in business communities around the world.

In particular, they pointed out the companies Emka Bosnia, Unis Ginex, Pobjeda - Rudet, companies from the Prevent group, and the newly founded company TVC in the Vitković industrial zone.

As the most important project in the last 100 years, they pointed out the Hranjen Tunnel construction project, thanks to which road communication with Sarajevo would be possible in 45 minutes. The list of future significant projects also includes the revitalization of the planned business zone "Haldište".

They believe that Goražde is an unused natural potential, where there are significant resources for the development of tourism, which they will work on intensively in the future.

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“.

 

FIPA Activities

Follow us
Investment Project