Canton Sarajevo Ministry of Economy awards 1.9 million KM for development and technological modernisation of 97 small businesses

(Patria) - Minister of Economy of Canton Sarajevo Zlatko Mijatović today signed contracts with selected beneficiaries from two public calls, namely the Support Programme for New Investments in Technological Modernisation and Application of Quality Standards, and the Incentive Programme for Investments by Newly Established Business Entities.

A total of 351 business entities applied for these two programmes, and after the procedures were carried out, 97 beneficiaries were selected. Based on the selected applications, 1.9 million KM was awarded.

According to Minister Mijatović, the business entities supported by the Ministry of Economy through these programmes currently employ more than a thousand people.

- These are companies that have already proven their sustainability and success, but also show potential for additional growth, development and strengthening of competitiveness - said Mijatović.

Through this support, the Ministry recognises both successful and newly established business entities - those already creating new value, as well as those showing potential for innovation, growth and contribution to the development of the economy of Canton Sarajevo.

Mijatović emphasised that incentive funds are an important instrument through which the Ministry creates conditions for strengthening the real sector and further economic development.

- The Ministry of Economy of Canton Sarajevo continues to implement programmes whose goal is clear: to strengthen competitiveness, improve technological development and encourage new employment.

These funds are not an end in themselves, but an investment in companies that have the capacities and potential to achieve new results through their work, contribute to the growth and modernisation of the economy.

We believe that this support will strengthen their market position and create additional employment opportunities in Canton Sarajevo - stated Minister Mijatović.

The largest part of the support is directed towards the manufacturing industry, a sector that employs, exports and drives the entire chain of related activities.

A significant share also consists of professional, scientific and technical activities, as well as the health sector, which confirms that the economy of Canton Sarajevo is growing towards a balanced and modern development of economic activities.

This year, 11 different areas of activity are covered with 46 different codes, ranging from high-tech and engineering services to the production of food, furniture, metal and wood, which further confirms the breadth and diversity of support from the Ministry of Economy.

The Ministry of Economy of Canton Sarajevo will continue in the coming period to implement programmes that have clear economic effects, such as productivity growth, increased employment and business modernisation, with the aim of strengthening the competitiveness and sustainable development of the economy of Canton Sarajevo.