News in English     | 25.04.2018. 11:56 |

Zvizdić: Resources and reforms combined is formula for attracting investments

FENA Darinka Mitrović

SARAJEVO, April 25 (FENA) - The combination of our natural and human resources with the reforms implemented by extremely large and well prepared investment projects and potentials is certainly one of the most successful formulas for attracting foreign investments and economic development in our region, said the Chairman of the BiH Council Ministers Denis Zvizdić at the plenary session of the Sarajevo Business Forum.

In his words, the BiH Council of Ministers in the past year actively worked on strengthening the financial discipline, improving the structure of public expenditures, improving the business environment, as well as increasing the competitiveness of the economy, which led to a rise of the main economic parameters in BiH.

Mr. Zvizdić informed the SBF participants about positive indicators that marked the economic growth and development of BiH in the last three years. GDP growth, as well as the growth of industrial production and processing industry, was recorded, while BiH’s public debt was reduced at the same time.

The largest foreign investors in BiH include Austria, Croatia, Germany, Italy, the Netherlands, Slovenia, Serbia, and the largest investments, which is particularly encouraging, have been recorded in the production sector - more than 40 percent, and in the banking sector - about 24 percent of total foreign direct investment.

Mr. Zvizdić also referred to the results achieved in foreign trade, which confirm the improvement of the economic situation in the country, as well as the increase in competitiveness of BiH's economy. The main trading partner is still the EU and the CEFTA countries.

He particularly emphasized tourism as an economic sector with exceptional potential, and according to the World Tourism Organization, the country has recorded up to 26 percent in tourism in the last few years.

“If we take into account the given data, then we are rightly expecting even more intensive development of this economic branch in BiH. What I would particularly recommend as a good chance for investments in BiH are the sectors of energy, tourism, IT industry, the metal industry, the wood industry, as well as the agricultural and food industries,” Mr. Zvizdić said.

As for the Council of Ministers and its assistance in continuing the strengthening of Bosnia and Herzegovina's economy, Mr. Zvizdić added that it would continue the activities that bring BiH closer to the European Union, namely the strengthening of the rule of law and the fight against all forms of crime and corruption and the implementation of those activities that will make BiH economy even more competitive.

He added that the final negotiations with the World Trade Organization were in progress, and that in this respect he expects BiH to finally become a member of the World Trade Organization in 2018.

(FENA)
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