Conference Held in Mostar on Favorable Business Environment in FBIH

Conference Held in Mostar on Favorable Business Environment in FBIH

 

By Medina Malagić – Sarajevo

The first annual conference entitled ”Favorable Business Environment in the FBiH (BFCFBiH) was held in Mostar today under the organization of Organized by the FBiH Ministry of Development, Entrepreneurship and Trade and in cooperation with the National Alliance for Local Economic Developemnt from Serbia (NALED) and the German Fund for Development (GIZ).

The BiH Minister for Foreign Trade and Economic Relations Mirko Šarović opened the conference.

According to him, this conference is vital in fostering a business environment not only in the FBiH, but also in BiH. He highlighted that the conference would demonstrate that this is an ongoing process that seeks to involve an array of layers of government, from municipalities, counties, entities and the state as well.

In turn, this would be possible if the conditions are set in place that characterize a stable society. This stems from having stable institutions and political stability, and is an ideal environment for attracting foreign investors.

Sanjin Halimović, the FBiH Minister for Development, Entrepreneurship and Crafts concurred with Šarović in that the conference is very important in showing what is considered conducive to the promotion of a good business environment in the FBIH.

Halimović referred to start-up packages of financial support for new entrepreneurial activities and how everything that has been done until now with partners has paved the way for this possibilitiy, particularly for young people. He specified that start-up packages focus on helping entrepreneurs by paying contributions for their employees, and assuming the burden of liability for the company registration of subsidizing interest rates on loans.

The role of the local community in fostering a favorable business environment was highlighted by the Minister of Administration and Local Self-Government Lejla Rešić. This indicates the importance of a bottom-up approach in creating and sustaining an attractive business environment. She explained that the state is only as strong as its local communities, and that the hub of economic activity takes place at the local level. According to her, governemnt institutions should take on an active role in assisting local communities in fortifying economic development and employment opportunities.

The conference that took place today envisages further progress because the signing of an agreement on establishing networks for local economic development in the FBiH is expected. In addition, there was a promotion of a project of certification of cities and municipalities with a favorable business environment in the FBiH. The ultimate goal of this project would be to introduce a standardized system in the FBiH that would improve the efficacy of local governments.