LIFE Project Results Presented: City of Zenica Ready to Welcome New Investors

SARAJEVO, (Patria) - Organized by the City Administration of Zenica, a promotion of results achieved through the implementation of the Project for Improving the Business Environment and Attracting Investments at the local level – LIFE, which is being implemented in Zenica by the International Finance Corporation (IFC), a member of the World Bank Group, and financed by the Government of the United Kingdom, was held today, the City of Zenica announced.

On this occasion, an updated Electronic Register of Administrative Procedures was launched, which now offers all necessary information in one place about which department of the City Administration is responsible for a particular procedure, what documentation needs to be submitted to initiate it, how much it will cost, and within what timeframe the procedure will be resolved. The e-register allows for the download of relevant forms and applications, which facilitates access to these services for all business entities and citizens, and further enhances the transparency and predictability of the City Administration's operations.

Through the LIFE Project, all 165 administrative procedures carried out by the City Administration were analyzed, and 90 percent of them have been simplified or improved.

Cost savings have been achieved through reduced administrative fees, a smaller number of documents required to initiate procedures, and for some procedures, part of the documentation is obtained ex officio. All of the above, in addition to cost savings, significantly contributes to increasing the efficiency and competitiveness of Zenica's economy, as it shortens the time required for the realization of investment activities in Zenica.

As part of regulatory harmonization, the Zenica City Council adopted a decision that the fee for the first initiation of a craft business will no longer be charged, which previously ranged from 10 to 560 KM depending on the activity. For the initiation of each subsequent activity, lower fees will be charged, reduced by almost 50 percent, meaning that depending on the activity, between 10 and 280 KM will need to be paid for this fee.

Through the LIFE Project, the City of Zenica has obtained a better and more transparent working process with investors, who can now get all the necessary information about investment opportunities in Zenica in one place.

A comprehensive Investment Guide has also been prepared, which combines specific project proposals, highlighting locations and their potentials, along with information on the support an investor can expect if they decide to realize certain projects.

The Guide is available here.

By improving the E-register and the predictability of the City Administration's services, simplifying and reducing the cost of administrative procedures, shortening their resolution times, and preparing projects for the investor guide, the City of Zenica will provide even better services to its citizens, facilitate the business operations of companies already active in the city, and be ready to welcome all future investors.