KS Assembly Passes Law on Cantonal Agency for Investment Attraction and Privatization

(Patria) - By passing the new Law on the Cantonal Agency for Investment Attraction and Privatization, this agency will take a central place in Canton Sarajevo where potential and existing, domestic and foreign investors will seek all information related to the business environment, competitive advantages and investment opportunities, as well as support during the realization of investments, and post-investment support.

By adopting this law today, which adds responsibilities and tasks related to attracting investments to the former Cantonal Privatization Agency, as well as responsibilities for coordinating and using funds from EU funds. This law also changes the name of the Agency, so it will officially be the Cantonal Agency for Investment Attraction and Privatization.

"We believed that by adding additional activities, we could improve the work of this agency, as well as improve the business environment and attract quality investments that will open new, competitive jobs, and consequently affect the overall growth of the standard of living of the residents of our canton. Our goal is to be one of the few levels of government that will provide an official channel that will connect future investors with government institutions, public administration, and all other institutions that are part of the process during the realization of an investment," stated the Minister of Economy Adnan Delić.

He added that the establishment of a "One Stop Shop" counter within this Agency will also contribute to improving our reputation with potential investors, both domestic and foreign, especially due to the fact that many investors have had difficulties realizing investments in the past due to a number of intermediaries involved in the mentioned process.

"Within its scope of activities in the area of supporting investment attraction, the Agency will also be available to the Government of Canton Sarajevo and relevant ministries as support in attracting and encouraging domestic and foreign investments for domestic and foreign investors in the Canton, as well as in coordinating cantonal and local level institutions with institutions at the federal and state level of Bosnia and Herzegovina in the area of domestic and foreign investments, in relation to attracting, assisting and encouraging them," explained Minister Delić.