Zvizdić and Šarović ahead of the EBRD conference: An opportunity for BiH and investments

(Patria) - Chairman of the Council of Ministers of Bosnia and Herzegovina Denis Zvizdić and Deputy Chairman and Minister of Foreign Trade and Economic Relations of BiH Mirko Šarović held a press conference on the occasion of the Annual Meeting of the EBRD Governors in Sarajevo. Zvizdić said that this will be an exceptional opportunity to showcase BiH's investment potential, to present our country in a much better light, and to best host those who will be making decisions about future investments in the coming period.

On May 8 and 9, Bosnia and Herzegovina will host one of the most significant events in the last two decades, the Annual Meeting of the Board of Governors of the European Bank for Reconstruction and Development (EBRD).

“It is important to emphasize why we consider the EBRD one of the most important partners. In 2018, 200 million euros were invested in BiH, and we expect this amount to reach 300 million euros in 2019. Since its presence in BiH starting in 1996, the EBRD has invested over 2 billion euros in 160 different projects in BiH. Our focus will continue to be the construction of Corridor 5c. We also expect the signing of certain other agreements. Our intention is to increase the level of EBRD investments in the private sector. This would improve the private sector,” stated Zvizdić.

The Prime Minister said that this is one of the most important events for the region and BiH, and that BiH will be in the spotlight for good reasons, economic cooperation, and efforts to achieve the best models for the economic development of BiH and the region in a peaceful atmosphere.

“Each of us will present certain projects that would improve the economic situation in the region. Agreements will be related to energy efficiency, support for small businesses, and air connectivity between the countries of the region,” said Zvizdić, speaking about potential topics at the meeting with Western Balkan leaders.

Regarding tariffs, Zvizdić stated that BiH is suffering certain consequences due to the tariffs imposed by Kosovo.

“We will not implement reciprocal measures, as they would be ineffective, but we will continue to insist on the abolition of tariffs, or a six-month moratorium, in order to reach a solution,” said Zvizdić.
He explained that the EBRD is satisfied with the preparations, and Zvizdić added that security aspects have also been met.

Minister of Foreign Trade and Economic Relations of BiH Mirko Šarović emphasized that almost all details have been finalized.

“As of yesterday, we had 2,886 registered participants, businessmen, and governors attending. We have 82 delegations and another 300 registered individuals awaiting verification. The majority of events will take place in the buildings of the BiH Parliamentary Assembly and the Council of Ministers. We will have over 40 events in three days. What is important for us is to show that we are capable of organizing this and to present ourselves as a country that is worthwhile and good for investments,” said Šarović.

The attendance of representatives from the international business community, investors, high government officials (EBRD governors, ministers of finance, economy, treasury, or central banks), and representatives of civil society organizations has been confirmed, with additional confirmations expected in the coming days.

Of exceptional importance for the entire region - “Connecting Economies for Stronger Growth,” a special part of the program is the Session on Investment Potentials in Bosnia and Herzegovina. This session focuses on strategic areas, presenting the potentials and benefits of the geostrategic position.

Under the title “Invest in Bosnia and Herzegovina – Invest in Profitable Projects,” the Session on Investment Potentials in Bosnia and Herzegovina will be held on May 9 in the building of the Parliamentary Assembly of BiH.
The potentials of the IT industry, a sector whose demand is growing daily in BiH and on the global market, will be presented by Bit Alijansa, an association of 58 large IT companies with over 2,800 experts.

The tourism sector will be represented by the Jahorina Olympic Center, host of the 1984 Winter Olympics and the 2019 Youth Olympic Games, which is also recognized as the most promising winter resort in the Western Balkan region.

The dynamic development of the automotive industry, with a strong export orientation, demonstrates that the world's leading vehicle manufacturers have relied on qualified labor in BiH for decades. Within the session, this sector will be represented by the largest private company in Bosnia and Herzegovina, Prevent Group, with strong sales and logistics expertise.

The decades-long tradition of the BiH wood industry and furniture production, awarded numerous international accolades, will be presented at this session by MS & Wood, a design-oriented solid wood manufacturer.

The significant potentials of the agricultural and food industry will be presented by Milk Industry Livno, owner of the brand “Livanjski sir,” a firm, full-fat cheese with a distinctive taste, recognized as a product of superior quality.