Bosnia and Herzegovina (BH) Foreign Investment Promotion Agency (FIPA) Director Haris Basic addressed Thursday the “Second Emerging Europe Investment Summit” in Vienna, reports FENA.
Basic presented the improved business environment and the comparative advantages BH offers to foreign investors. He also presented macroeconomic indicators, a significant increase in foreign investments and attractive sectors for investment.
Basic presented the most important details from the Strategy for Promoting-Attracting Direct Foreign Investments in BH and informed the participants about the establishment of the Fund for Supporting Foreign Investors.
Emerging Europe Country Risk Chairman David Snowdon said in his opening remarks that BH will have the fastest growth of GDP of all countries in the region by 2011. The Business Forecast Report published by Business Monitor International was also presented. It provides a long-term analysis of the BH political, economic and financial situation by the end of 2011.
It predicts rapid development of the BH economy. The privatisation process, which has been stepped up in 2007, will contribute to the record levels in direct foreign investments, while the influx of foreign capital will be key for the revitalisation of the domestic industry and export, which in turn will reduce the unemployment rate, the report states.
Representatives of the state, financial and private sector are taking part in this investment gathering in Vienna. They are meeting with the aim of finding ways for investing in European countries in transition.