Contract signed but without concrete projects: What will the Investment Fund from Dubai invest in?

A Memorandum of Understanding between the Government of Sarajevo Canton and the Investment Corporation of Dubai (Arab Investment Fund) was signed today at the Sarajevo City Hall, with the signatories being the Prime Minister of Sarajevo Canton Elmedin Konaković and the Executive Director of the company Mohammed Ibrahim Al Shaibani, reports the Patria agency.

As announced by the Government of Sarajevo Canton, the Memorandum is the result of several meetings held between representatives of the Government of Sarajevo Canton and representatives of the Investment Corporation of Dubai, and it provides the company with the opportunity to conduct a feasibility study on several locations in Sarajevo Canton and submit to the Government of Sarajevo Canton requests for potential future investments.

Sheikh Mohammed, according to online data, ranks among the five richest monarchs in the world, and his wealth is estimated at over 20 billion dollars. So far, he has initiated and overseen numerous projects in his emirate, the most famous of which are the "Palm Islands" and the ultra-luxury hotel "Burj Al Arab." Sheikh Mohammed actively participated in the planning of "Burj Dubai," the tallest building in the world. He owns stakes in numerous companies and hotels, and recently became the owner of the nautical-tourism complex Porto Montenegro in Montenegro.

One of the hosts was BBI director Amer Bukvić, who, by all accounts, is connected to this Fund, and according to some information, they are linked to the ownership of BBI Bank and BBI Real Estate, headed by Sead Živalj. We recall that Bukvić, at the beginning of last month, offered the assets of Agrokomerc to representatives of this fund.

It was also emphasized today that the projects to which the Memorandum would relate have not been specified, but that potential investors have visited several locations from Bjelašnica to the Jajce barracks.

The signing of the Memorandum was also attended by the presidents of SDA and SBB, Bakir Izetbegović and Fahrudin Radončić, the Chairman of the Council of Ministers of Bosnia and Herzegovina Denis Zvizdić, the Prime Minister of the Federation of Bosnia and Herzegovina Fadil Novalić, ministers from the governments of the Federation of Bosnia and Herzegovina, Sarajevo Canton...