Lagumdžija: I expect the harvest of Qatari investments from May this year!

Bosnia and Herzegovina has offered Qatar a concrete investment package that can serve as a platform for Qatari companies and financial institutions to enter the regional market through BiH, but also the markets of the European Union and Turkey, stated Zlatko Lagumdžija, Minister of Foreign Affairs of BiH, who is visiting the Gulf country, for the BiH news agency Patria (NAP).

When asked about the financial value of the offered investment package, Lagumdžija said he did not want to speculate with numbers.

However, it is clear that the comprehensive plan, which includes joint investments, financial support, direct investments in production, and the provision of favorable loans and guarantees, certainly exceeds the value of several billion marks.  

Lagumdžija had meetings yesterday and today with the highest officials of Qatar, the Prime Minister and Head of Diplomacy, as well as the Ministers of Economy and Energy, and the heads of investment authorities directly responsible for investments outside Qatar. At the same time, as he told us, members of the BiH delegation are holding very precise and detailed discussions with their Qatari counterparts on investment projects in BiH.

- Today, we specified and presented in more detail the program we have brought. This is a program developed by an expert group formed by the Chairman of the Presidency of BiH, Bakir Izetbegović, and myself, including a large number of people from the Federal Government – says Lagumdžija, adding that the hosts have shown readiness and willingness for this cooperation to result in concrete projects.

Lagumdžija also added that discussions were held on establishing a favorable credit line, similar to the one approved by the Turkish government for returnees to Republika Srpska, but which would cover all companies capable of quickly and intensively creating new jobs.

He emphasizes that he expects the real harvest after the arrival of the Qatari delegation in Sarajevo in May this year, which will be led by the Minister of Foreign Affairs of Qatar. Lagumdžija says the plan contains several segments.

First, there are large and potential investments in the energy sector in BiH, thermal and hydroelectric power plants, and wind farms, followed by investments, either through concessions or loans, in the construction of highways on Corridor 5C.

- We agreed to form a consortium of companies that would invest in BiH, but our country would be the investment headquarters for companies from that country. The second area is the financial sector. We offered them recapitalization of the state-owned Union Bank, or the establishment of a branch of a Qatari bank in BiH – he adds.  

Speaking about the possibility of "Qatar Airways" investing in the BiH company "BH Airlines", Lagumdžija said he expects representatives of that major company to be in the delegation that will come to the "Sarajevo Business Forum" in May.  

Lagumdžija also added that discussions were held on establishing a favorable credit line, similar to the one approved by the Turkish government for returnees to Republika Srpska, but which would cover all companies capable of quickly and intensively creating new jobs. In addition, a model was proposed where Qatari funds would support the business of BiH companies in third markets by providing guarantees, which is generally a major problem for BiH companies.

Furthermore, Lagumdžija says that Qatar has been proposed to invest in companies that already have production and potential but lack working capital, citing the positive example of the BiH defense industry, which received a significant number of new projects thanks to such an injection from the Development Bank of the FBiH.  

OPTIMISTIC ABOUT INVESTMENTS IN AGRICULTURE

Discussions were also held with representatives of a Qatari fund involved in investments in the food industry and agriculture.

A large number of our food-producing companies have problems with working capital, and we are looking at the possibility of investing in these companies, as well as agreeing on the placement of our goods to a known buyer, and I am very optimistic about this – says Lagumdžija.