EBRD Conference: Attracting Foreign Investments for a Better Standard of Living

(Patria) - The focus of the Annual Meeting of the Board of Governors of the European Bank for Reconstruction and Development (EBRD), to be held in Sarajevo on May 7, 8, and 9, will be on investment opportunities in Bosnia and Herzegovina, which represents a great opportunity to ensure stronger growth for our country.

All relevant financial institutions and agencies of BiH have assessed that constant attraction of foreign investments is necessary to improve the standard of living in Bosnia and Herzegovina. It is emphasized that maximum effort must be made to create a more favorable business environment for foreign investments that would enable new jobs and higher employment. A more favorable business environment can be ensured through faster and simplified business registration, land allocation, infrastructure development, provision of tax incentives, and the construction of techno-parks and business incubators.

"At the same time, it is necessary to adapt the education system to the needs and reforms in the labor market through professional development programs, as well as various upskilling and reskilling programs aimed at increasing the productivity and competence of the workforce. Of course, all these economic reforms should be accompanied by the improvement of health, cultural, sports, and recreational facilities in order to meet the needs of BiH citizens, i.e., to achieve a better standard of living," stated the Directorate for Economic Planning of BiH.

Financial experts cite the information technology (IT) sector as one of the most promising development opportunities for Bosnia and Herzegovina, which records a constant annual growth of up to ten percent. In addition to the IT industry, among the strategic industries to be promoted within this event, tourism, manufacturing and engineering, the wood industry and furniture production, as well as agriculture and food processing are specified.

The infrastructure sector is also considered equally important, within which the completion of Corridor 5c is characterized as a capital project for Bosnia and Herzegovina. Namely, it is estimated that with better road connectivity, along with economic reforms, Bosnia and Herzegovina could achieve significant economic growth and progress in the coming years. We remind you that on the occasion of the EBRD Annual Meeting, BiH expects more than 2,000 representatives from the international business community, investors, high government officials (EBRD governors, ministers of finance, economy, treasury, or central banks), and representatives of civil society organizations, which will be an excellent opportunity for discussions on new cooperation and investments in Bosnia and Herzegovina.