Members of the Joint Committee for Economic Reforms and Development of the PA BiH talked with representatives of the Agency for the Promotion of Foreign Investments in BiH

Members of the Joint Committee for Economic Reforms and Development of the Parliamentary Assembly of Bosnia and Herzegovina (PA BiH) spoke today in Sarajevo with representatives of the Agency for the Promotion of Foreign Investments in Bosnia and Herzegovina (FIPA).

The Secretary of the Agency, Maida Bećirović, presented the competences of the Agency arising from the Law on the Agency for the Promotion of Foreign Investments in Bosnia and Herzegovina, as well as the activities of this institution. She also presented information related to the organizational structure of the Agency, the number of employees, as well as information on activities carried out through its Headquarters in Sarajevo and Regional Offices in Mostar and Banja Luka. She also warned about certain challenges that the Agency is facing, such as the need for larger financial resources that would be used for the presentation of the potential for investing in Bosnia and Herzegovina at various types of events organized in the country, the region, but also more widely, at significant economic fairs in Europe and around the world.

Data on the increased inflow of foreign investments into Bosnia and Herzegovina in the last three years were presented at the meeting, which, as it was said, is the result of the activities carried out by the Agency. It was pointed out that the Agency especially cooperates with local communities where foreign investments are implemented, and that very often it intervenes in solving problems that foreign investors encounter when investing in Bosnia and Herzegovina. Data on the areas in which foreign investments were the largest were also presented. It was pointed out that this is the field of finance, then base metals, and electricity production - the field of renewable energy sources.

Answering the questions of the members of the Joint Committee, the Secretary of the Agency informed participants about the comparative advantages of our country that attract foreign investors, such as incentives granted to foreign investors, customs relief in some areas, low production costs and the like, but also about the complicated legal system, and the relatively bad image that our country has abroad as the main shortcomings that influence the fact that potential investors do not want to invest in Bosnia and Herzegovina. The issue of investment in the field of agriculture and food production was also mentioned, in connection with which it was pointed out that one of the biggest problems is the fragmentation of holdings on agricultural land. It has been said that this area is trying to present itself as a potential for organic production because our country has unpolluted land that represents a significant resource for this type of production.

The members of the Joint Committee emphasized that they support the activities of the Agency and the modalities of improving the work of FIPA. The members of the Joint Committee concluded that the practice of organizing such meetings is useful for the members of the Commission, as well as for the representatives of BiH institutions. (end)