News in English     | 17.11.2021. 15:08 |

USAID has supported 164 companies through Diaspora Invest project

FENA Hana Imamović

SARAJEVO, November 17 (FENA) - From April 2017 until today, USAID has supported 164 companies through the ‘Diaspora Invest’ project, which in that period created 1,571 new jobs and more than 54.4 million KM of new investments in Bosnia and Herzegovina.
 
This was pointed out today at the final conference of USAID's "Diaspora Invest" project, when it was said that during the project, support was provided in the mediation of domestic companies to enter the international market. Diaspora investors come from 22 countries around the world, and their investments in Bosnia and Herzegovina cover 64 local communities.
 
Ambassador of the United States of America to BiH, Eric Nelson, underlined that today marks the end of the five-year USAID project in which the US Government invested 6.6 million KM, which helped members of the diaspora to return to BiH and help with investments.
 
The investment generated 22 million dollars, and this year alone the revenues amounted to more than 74 million dollars, adding that a specific aspect of this project is that most of these investments are directed to smaller local communities such as Lopare and Livno and employ the largest number of people.
 
He notes that BiH authorities should stimulate this type of investment, and what is being done with the Brčko District and Federation BiH authorities is to create a strategic framework to support these efforts as diaspora investment brings aspects of EU standards to both companies and employment.
 
“There is great economic potential in the countries of the Western Balkans, but BiH lags behind its neighbors because it fails to implement reforms aimed at European integration,” Nelson underlined.
 
As explained by the representative of the Business Center of the BiH Diaspora Armin Alijagić, a center established within the USAID investor support project, over five years the interest of the Diaspora to invest in their country of origin has been tested and they have significant results.
 
It is mainly investing in places of origin, which is why everyone is encouraged to continue with this in the future, and at the same time increase awareness of the development potential of the diaspora.
 
The guide for local communities in working with the diaspora was presented at the conference, as well as the Network of Local Self-Government Units - partners of the Business Center of the BiH Diaspora, which consists of 16 local communities from all over the country.

 

(FENA) A. B.

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