Bureaucracy, obtaining permits and corruption are obstacles to investment in BiH
Sarajevo, 17 december 2016 – In HUB 387 (Bosmal City Center) in Sarajevo was presented the first report “FIC Business Barometer”.
“FIC Business Barometer €ť report is a milestone activity of the Foreign Investors Council of BiH (FIC BiH) implemented in cooperation with the Growth-Oriented Local Development (GOLD) Project, which is funded jointly by the United States Agency for International Development (USAID) and the Swedish International Development Cooperation Agency (Sida).
The survey aims at gaining better insight into the level of satisfaction of the members of the Foreign Investors Council with the business environment in Bosnia and Herzegovina (BiH), the obstacles faced by the investors, their plans for reinvesting and creating more employment opportunities in BiH.
“FIC business barometer” reflects the standpoint of FIC members which represent 70% of total foreign investment in BiH.
“Our intention is that through this research show standpoint when it comes the business environment in BiH, and how we could contribute more to the development of BiH economy if we remove obstacles that investors face. The results clearly indicate obvious desire and intention of reinvesting and hiring new employees, but the biggest challenge for entrepreneurs are bureaucracy, time required to obtain permits and corruption”, said Branimir Muidža, president of the FIC and Managing director of Heidelberg Cement Group for BiH. Members of the FIC are convinced that the result of this research will be a guideline to all decision-makers to create reforms that will improve the position of investors, and to attract new investments with the aim of improving the business environment and encourage further investment.