FIPA and WAD - NEW INVESTOR IN THE TEXTILE INDUSTRY OF BiH

-The total value of the investment is 10,500,000 EUR 

The Foreign Investment Promotion Agency of BiH (FIPA), in cooperation with the World Association of the BiH Diaspora BiH, has found a new investor for the textile industry in BiH. It is a Turkish businessman Zihni Yildiz who, together with Hasan Šehović, president of the World Association of Diaspora, visited FIPA for an arrangement on how to realize his investment.

Mr Yildiz is the owner of two textile factories in Turkey and exports to the markets of France, Germany and the United Kingdom. He has contracted production for the next 5 years, so there is a great need for expansion of production. Complete production in BiH will be intended for export.

In the first phase, the investor will employ 250 workers with the intention of growth in the coming years to 850 employees. The initial investment would be 3,500,000 EUR, while the final plan is to invest 10,500,000 EUR in the development and expansion of production.

The FIPA staff informed the investor about the business conditions in BiH, especially considering the tradition of BiH in the textile industry, a lot of experienced staff in this branch and the existence of professional educational institutions for new staff training.

The FIPA Director Gordan Milinić promised to the new investor full support in ensuring conditions for starting production. In this regard, FIPA will, in consultation with local authorities, select and offer to the investor several investment locations with all necessary infrastructures.

The plan is to start production as soon as possible on an area of ​​12,000m2 with the aim to expand production to 60,000m2.