Economists welcome relief for businesses and investors

It is very good that long-awaited progress in legislative procedure, such as the Law on Business Companies, is finally being made, adopting some of the demands of employers and the economy. I expect the law to be finally adopted and to incorporate as many concrete demands of the economy as possible. The previous law was also good, but its application was inconsistent, said economic analyst Igor Gavran for the BiH news agency Patria (NAP).

The House of Representatives of the Parliament of the Federation of Bosnia and Herzegovina approved the draft Law on Business Companies and the Law on Public-Private Partnership at yesterday's session. The proposer of the laws was the Government of the Federation of Bosnia and Herzegovina. We remind you that last week a meeting was held between the Federal Prime Minister Nermin Nikšić and representatives of the Association of Employers of the Federation of Bosnia and Herzegovina, who reached certain conclusions to facilitate the business climate in the Federation of Bosnia and Herzegovina.

The Federal Minister of Energy, Industry and Mining Erdal Trhulj also welcomed the drafts of these laws, emphasizing that the proposed text of the law provides for a 50 percent reduction in the costs of registering business companies.

- The procedure itself, prescribed in the accompanying law, the Law on Registration of Business Companies, which is led by the Federal Ministry of Justice in this package, should also remove other administrative barriers in order to shorten time and costs - said Trhulj.

He also added that this is a systemic law that is one of the conditions of the International Monetary Fund.

The proposed legal framework should contribute to stimulating domestic and foreign capital investment in the public sector to ensure the quality of public services and greater economic development of Bosnia and Herzegovina.