MILINIĆ-GELO: Focus on attracting investments from Italy

The Director of the Foreign Investment Promotion Agency of BiH (FIPA) Gordan Milinić made the newly appointed Ambassador of Bosnia and Herzegovina in Italy Josip Gelo familiarized with the current situation related to Italian investments in BiH, cooperation with Italian investors who are have been present at the market of Bosnia and Herzegovina, as well as with the FIPA activities on attracting foreign investors. 

On this plan it was highlighted the upcoming Outreach Campaign in Italy planned for April 2017, which means making direct visits to Italian companies which will be offered opportunities for investing in the agricultural and food industry of BiH.

The Ambassador Gelo was informed on the fact that Italy is ranked at 11^th place when it comes to the inflow of foreign investments, with 354 million BAM invested, and that the most significant Italian investments were realized in the metal sector and the textile with a focus on the production of footwear. He was also informed about the advantages of doing business in BiH compared to European countries such as corporate income tax rate of 10%, competitive electricity prices, availability of production facilities at affordable prices, as well as the labour force, which is important to emphasize in contact with investors.

It was emphasized the need to strengthen economic diplomacy in order to attract foreign investments and to increase exports from Bosnia and Herzegovina, and the fact that on this plan is being implemented a training of economic advisers, who will be assigned to the Consular and Diplomatic Network to improve work in the mentioned domains.

Mr Milinić wished the Ambassador a successful mission with the desire to make as many contacts with potential investors in Italy who will be oriented towards FIPA for realizing their investments in BiH.