Director of FIPA opened the Western Balkans Energy Week

-Encourage investments in renewable energy sources and decarbonisation 

The Director of the Foreign Investment Promotion Agency of Bosnia and Herzegovina (FIPA) Marko Kubatlija opened the Energy Week of the Balkans, which takes place on October 9 and 10 in Budva.

Bosnia and Herzegovina is a partner country of this year's event, where the energy ministers of the Western Balkan countries, representatives of state institutions and global energy companies, as well as international financial institutions discussed encouraging the use of renewable energy in the region and attracting foreign direct investment.

Director Kubatlija pointed out that it is necessary for the countries of the Western Balkans to work intensively on strengthening the decarbonisation process, security of energy supply, increasing the share of renewable energy in total consumption, and increasing energy efficiency.

For the successful transition of the energy sector and the realization of the European Green Plan, the cooperation of all key institutions and partners is necessary.

The latest regional study on nearshoring and decarbonisation, conducted in cooperation with the Vienna Institute for International Economic Studies, recommends that Western Balkan decision-makers recommend financial incentives and technical support to help local companies decarbonize and meet international standards, then improve governance and infrastructure in order to attract more investments, as well as encourage investment in renewable energy sources to align with global sustainability trends.