Kovačević: EBRD Annual Meeting an opportunity to learn and find investors for projects

(Patria) - Amel Kovačević, Minister of Finance in the Government of Sarajevo Canton, graduated and obtained his Master's degree in Economics from the International Islamic University in Malaysia. He held high positions in several financial institutions in Bosnia and Herzegovina, and lectured at several higher education institutions. He served as the Ambassador of Bosnia and Herzegovina to the People's Republic of China from 2010 to 2013, and also engaged in international consulting.

In anticipation of the upcoming Annual Meeting of the European Bank for Reconstruction and Development (EBRD), we spoke with Minister Kovačević, who emphasized that the EBRD is a reliable partner for Bosnia and Herzegovina when it comes to financing numerous strategic and development projects in recent decades.

"We have the honor and privilege that the annual gathering of the most important people from the world of finance, organized by this bank, is being held in our city this year," said Kovačević.

The EBRD Annual Meeting is being held in Sarajevo from May 7 to 9. Why is this event important for us and are we ready for it?

It is an opportunity for decision-makers in the world of finance to become acquainted with our resources and our country, but also an opportunity for us to learn about the knowledge and experiences of others in terms of developing strategic industries such as tourism, information and communication technologies, as well as environmentally sustainable development and digitalization of public services. It is also an opportunity to offer projects to potential investors for which business partners are sought. The Sarajevo Canton, through various forms of support, makes a significant contribution to this event. Our various facilities, such as Zetra, as well as human resources, will be available to the organizers. We will ensure that important guests take away pleasant and unforgettable impressions from our country.

The role of Information and Communication Technologies (ICT) in societal development is one of the themes of this year's EBRD meeting. How can ICT improve our society?

We are witnessing that new technologies in the last decade have changed the ways of doing business, communicating, educating, trading, and even our habits, in all spheres of our lives. This greatly simplifies our lives and business operations. Unfortunately, one of the last strongholds in our society where new technologies are not significantly represented is public administration and the provision of public services. This is unacceptable for several reasons. New technologies would primarily bring us process efficiency, a new organization of public business, and indicate a surplus of inadequate and a shortage of qualified labor in the provision of public services.

This would help us allocate resources more effectively in our society, and leave room for smart investments that would help us achieve our societal goals in the long term. New technologies would also significantly improve the range and quality of public services, leading to more satisfied users of these services, whether in healthcare, education, security, or the administration of various rights and obligations of each individual in society. If the private sector can be digitized, there should be no obstacles for the public sector to be digitized as well.

At the same time, the development of new technologies in society requires new, relatively well-paid jobs, which should be one of our main goals. If our bright young people, through their creative solutions and new technologies, improve the societies of others, why wouldn't that be good enough for our society? The Sarajevo Canton has recognized the importance of these processes and is paying due attention to digitalization, which will be visible to our citizens in the period ahead.

What projects will the KS Government present to foreign investors at the EBRD Annual Meeting?

The Government of Sarajevo Canton will present three projects to potential investors attending this major event: the Eco Camp Bijambare, the Šip Technology Park, and the privatization of the hotel Igman, devastated during the war. We are looking for investors willing to invest their funds in these projects. Of course, the most significant is the technology park project in Šip, which is intended to become Sarajevo's Silicon Valley. Educational, business, and residential complexes will be concentrated there, where the staff of Sarajevo's ICT industry would work, live, and educate. There is great interest in this project, both from local ICT companies and from international corporations that would position their businesses in Šip. The Eco Camp Bijambare represents an educational-recreational camp in a protected landscape, at the site of a former military barracks. This project would significantly enhance the tourist offer of our canton and provide balanced economic development for a currently demographically passive region. The privatization of the Igman hotel will also be offered. For many years, the remains of this Olympic hotel have been overgrown with weeds. We hope to find the best solution to put this facility back into function for the tourist offer of Sarajevo Canton.

Does the Sarajevo Canton intend to connect new technologies with improving the tourist offer, protecting nature, and the quality of life in Sarajevo?

It is necessary to view all the challenges we face comprehensively in order to strategically define our course of action. There is a clearly defined action plan for environmental protection and improvement, which is being implemented within the available funds. This government is determined in its efforts to make Sarajevo a candidate for the European Green Capital in the coming years. The smart city project is in preparation and requires reforms and investments in many areas, from public transport, education, healthcare, security, utility services, social protection, administration, to finance. The readiness of Sarajevo's business ICT community to actively participate in finding the most suitable solutions with the help of international development agencies gives us reason to be optimistic that we will, step by step, digitize our society using domestic resources. Tourism represents a great potential for the economic development of Sarajevo Canton. Until fast and reliable roads are built, our most important tourist channel will be air traffic.

Therefore, it is very important for Sarajevo Airport to establish as many new flights as possible with European and world metropolas. We must beautify the city, make it safe and easy for tourists in every sense. People who come for a vacation want an experience they will remember. Therefore, we must strive to complement natural and cultural-historical tourist attractions with new technological features, to be environmentally conscious and entertaining, and to bring more value than other tourist destinations. This is a great task for the Sarajevo Canton Tourist Board and this government.