Foreign Investors Council concerned over Bosnia's decline in ease of doing business

Following the new World Bank Doing Business 2018 report on the ease of doing business, the Foreign Investors Council (FIC) expresses concern over the fact that Bosnia and Herzegovina ranks at the very bottom of European countries in terms of ease and business environment, and has additionally regressed by 7 places.

- The report does not surprise us because in its structure and analyzed indicators it detects and suggests difficulties that are clearly pointed out by the FIC in its publication of the "White Book" of the FIC and the FIC Business Barometer. The current economic situation, the results of the report, the low level of foreign direct investment (FDI), the low level of employment, standard of living and purchasing power of the population, as well as negative demographic trends, clearly indicate the need and urgency of reform action. By applying the same economic policies, only the same or insufficiently good results can be obtained, therefore decisive changes and reforms are needed.

In this sense, the original goals of the Reform Agenda were defined, in which a clear commitment to the implementation of measures and laws is expressed in order to remove barriers, reduce the tax burden on labor and capital, reduce the level of the gray economy, thereby paving the way for the entry of fresh capital, investments, new employment and a better standard of living. Ultimately, this will also result in more positive demographic trends.

The issue of the economy and the need for genuine and substantive changes in economic policies clearly points to the need for adequate action. We believe that this report should also be a call to alarm and action, and the FIC hereby publicly appeals and demands that all levers of executive and legislative authorities at all levels in BiH move more decisively and courageously towards implementation.

We remind that most of the solutions and recommendations on how to remove the difficulties are found in the new edition of the „White Book“. Every new measure should be more favorable for companies and in no case less favorable. By implementing the recommendations from the „White Book“, the business environment in BiH, the level of GDP growth, foreign and domestic investments, employment and the standard of living of citizens would be significantly improved - the statement said.