News in English     | 11.05.2020. 15:20 |

BiH diaspora businesses do not intend to give up on their planned investments

FENA Press release

SARAJEVO, May 11 (FENA) - The USAID Diaspora Invest Project conducted a study on the consequences of the COVID-19 pandemic on diaspora investments, which included the responses of 32 companies that have been launched thanks to investments of the BiH diaspora.

"Those 32 companies are in different parts of BiH, and 50 percent of the participants in the research belong to various sectors of the manufacturing industry, 12.5 percent to tourism, 12.5 percent to agriculture, and the rest to the IT sector, energy sector and other industries. Slightly less than a third of the surveyed companies are fully focused on international markets, while 50 percent of them are equally focused on domestic and foreign markets," explain those involved in the USAID Diaspora Invest Project.

What they have in common is the fact that they were initiated by the diaspora, based on the diversity of participants and sectors they come from, and the report seeks to give a general overview of the perception of the current state of the economy and companies by their owners/managers.

"Eighteen out of 32 companies plan to keep the same number of employees as in 2019, and 10 of them intend to increase the number of employed. Only four companies plan to reduce the number of employees. Thirteen out of 32 companies plan to maintain the same level of investment as in 2019. Ten of them plan to expand, and nine plan to decrease investments. Slightly less than half of them expect a partial change of business, and seven of them expect significant changes in this segment," they add.

When it comes to expectations for support, in the financial segment, half of them primarily expect support in cofinancing salaries and contributions, more than half expect support in the segment of procurement of fixed assets, and more than a third expect support in access to funds for preserving their business.

"Half of the respondents, i.e., 50 percent of companies expect technical support in the measures implemented by various levels of government, 46 percent expect advice on access to additional financing, 18 percent support in debt management, and 12.5 percent expect legal support and support in optimizing management finances," it is stated in the report on the conducted research.

The USAID Diaspora Invest Project also saw a slight increase in the number of applications under the last Call for Proposals, conducted in March and April, indicating that companies paid more attention to alternative sources of funding and support than otherwise might be the case, and that the BiH diaspora, despite the latest situation, is still interested in investing in their country of origin.

(FENA) S. R.

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