Forto in America: BiH has too many state-owned companies stifling development, we need to make space for private capital

(Patria) - “Bosnia and Herzegovina has too many state-owned companies stifling the market and development,” said the Minister of Communications and Transport of BiH, Edin Forto, at a meeting with Alfonso Garcia Mora, Vice President of the International Finance Corporation (IFC), a member of the World Bank Group.

The meeting was held in Washington, as part of the Annual Meetings of the World Bank and the International Monetary Fund, where Minister Forto is leading the delegation of Bosnia and Herzegovina in his capacity as BiH’s Deputy Governor to the World Bank.

„We must not allow ourselves to continue lagging behind the region and Europe. State-owned enterprises are often inefficient, lacking a clear development vision. It is time to rely on public-private partnerships and make space for private capital that can bring new jobs, better infrastructure, and faster growth,” emphasized Minister Forto, reminding that public-private partnerships (PPP) are officially recognized as a priority in the European Union's Growth Plan, which calls on BiH to introduce the PPP model in the management of at least one of the four international airports in the country.

The IFC announced a greater presence and a stronger focus on the Western Balkan countries, particularly on projects connecting the public and private sectors, and BiH, according to the interlocutors, is ready for concrete steps in this direction.

„Partnership between the state and the private sector is not a threat, but an opportunity. BiH has enormous untapped potential – it is time to unleash it,” concluded Minister Forto.