Foreign Investors Council satisfied with FBiH Government's support during pandemic

SARAJevo, (Patria) - At the 10th regular session of the Foreign Investors Council of the Federation of Bosnia and Herzegovina, chaired by the Federal Minister of Trade Zlatan Vujanović, it was assessed that the measures that the Government of the Federation of Bosnia and Herzegovina has continuously implemented to help the economic recovery from the consequences of the pandemic have yielded positive results. In order to maintain the trend of economic recovery, it was emphasized that the FBiH Government continues with fiscal support measures in this area, and at the same time, it is working rapidly on improving the regulatory framework for a more significant growth of direct foreign investments.

In this context, Minister Vujanović pointed out the adoption of the law on public-private partnership, which was recently adopted in the form of a draft. This is one of the most significant legal projects that incorporates best practices and models, and which, as Vujanović assessed, will be a great potential for attracting investors, both foreign and domestic.

Speaking about the measures taken so far by the FBiH Government, the Federal Minister of Development, Entrepreneurship and Crafts Amir Zukić particularly pointed out the implementation of the Decree for assistance to trades in the amount of 60 million KM, which is in its final phase, and which is expected to support about 25,000 tradesmen in FBiH. Concurrently, the relevant ministry is carrying out activities on developing the regulatory framework for encouraging investment, which particularly relates to the drafting of bylaws from the Law on Trades, and the drafting of the law on encouraging the development of small businesses and business infrastructure.

In addition, the activities of the Federal Government this year are also focused on direct assistance to businessmen in the industrial sector in the amount of 30 million KM, and to the agricultural-food sector in the amount of 15 million KM, as well as strengthening five credit-guarantee programs at the Development Bank of FBiH.

Assessing the measures of the Government of the Federation of Bosnia and Herzegovina so far as positive, the President of the Foreign Investors Council in BiH Branimir Muidža particularly emphasized the need for faster construction of the regulatory framework, not only for attracting foreign investments but also for the possibility of redirecting global supply chains towards the area of Bosnia and Herzegovina.

Otherwise, according to the data presented today, the measures taken so far by the FBiH Government have resulted in a continuous trend of economic recovery and GDP growth, and in the first ten months of this year, the Federation of Bosnia and Herzegovina records higher revenues than in the pre-pandemic year 2019. In addition, it was emphasized at the session, it is expected that all cantons will record budget surpluses, and these funds will be largely redirected to the economy again.

At today's session, which was held online due to epidemiological reasons, the importance of the participation of domestic companies and businessmen at the international entrepreneurship fair EXPO 2020 in Dubai was also emphasized. In this context, the Minister of Economy of Sarajevo Canton Adnan Delić pointed out the advantages of online applications and networking by sectors of all participating countries, as well as the opportunities of this gathering, which is an exceptional opportunity to present business ideas, visions, and potentials of our country.