AREA OF THE MUNICIPALITIES OF TESANJ, TESLIC AND ZEPCE (BEAR) AMONG THE TOP 10 BEST EUROPEAN INVESTMENT LOCATION

According to the estimations of the specialized magazine for foreign direct investment, FDI Magazine (Financial Times Group) the area of BEAR which includes the Municipalities of Teslic , Tesanj and Zepce were ranked as 'Top 10' of the Southern European Regions in the category of best European investments’ locations by cost efficiency within the competition of European cities and regions of the future for 2014./15. Results of the competition were published in the two-month February-March issue 2014 of the FDI magazine, which has over 15,000 subscribers worldwide who are corporate and cross-border investment professionals and experts.

BEAR Area is located at the 10 position of the final scale. BEAR means the Business Excellence Area - and represents a development initiative of the Municipalities Teslic, Tesanj and Zepce which is supported by the German Society for International Cooperation - GIZ.

Categories and criteria by which the technical evaluation group made ​​the decision to proclaim the best European cities and regions are economic potential, the ratio of investment and costs, human resources, infrastructure, quality of life, friendly business environment, as well as promotional strategy for attracting foreign direct investment. The place on top list of European cities and regions of the future represents on the same time a recommendation of the economic magazine for investing in those locations.

Competition for the best investment locations in Europe was published in October 2013. By the joint efforts, the representatives of BEAR area, the Municipalities of Tesanj, Teslic and Zepce applied at this competition, presented the investment benefits of their area, and achieved significant results in two categories : Top 10 European region in general - by the cost-effectiveness of investments and Top 10 of Small European Regions - by the cost-effectiveness of investments.

468 cities and regions applied for this prestigious award of “FDI European cities and regions of the future 2014/15 “, within five categories: economic potential, work environment, profitability, infrastructure and business friendliness.

„These are challenging times for foreign direct investment (FDI) in Europe. With slow growth in many major economies and with the continuation of last year's crisis in the euro zone, inflows into the region were significantly reduced. Therefore, it is of crucial importance for European cities and regions to take proactive attitude toward promoting foreign direct investment (FDI) and provide the most competitive investment environment. Our ranking recognizes locations that do just that, and highlights the corresponding advantages of cities and regions of all sizes across Europe, "said Courtney FINGAR, editor in chief of FDI Magazine.“

With their application for Zepce, Tesanj and Teslic, Zepce Development Agency (RAZ ), Tesanj Development Agency (TRA), and the Department for Development of the Municipality of Teslic, responsible for the coordination and development of the region BEAR, presented the measures implemented to encourage foreign investment and opportunities available to foreign investor. Those measures were recognized by the assessment criteria of the best European cities and regions, which has confirmed the ranking of regions BEAR at 6^th place of the small European regions of the future in the category of "cost effectiveness“.

The entire process of registration and nomination of BEAR for the respectable competition was led by PhD Ismar Alagić, Director of the TRA Agency for Development of the Municipality of Tesanj on behalf of all three municipalities.

This is an outstanding result and recognition for these three municipalities of Bosnia and Herzegovina and their efforts to promote investment advantages. The ultimate goal of these activities is to increase the level of foreign direct investment, and increase the number of sustainable jobs in this micro-region.

FDI MAGAZINE