We continue to work on improving the conditions for private sector investment and enhancing services provided by public institutions for the economy. Our goal is to ensure that investors obtain documentation for starting businesses more quickly, easily, and at lower costs.
- The Sarajevo Canton Government has reduced/modified court fees in several areas of the economy. We have completely eliminated the administrative fee for issuing work permits for foreigners and reduced court fees in the land registry sector.
- We have improved support for existing investors through the Post-Investment Support Program within the Collaborative Network and a service for potential investors. We have established a “one-stop shop” system for working with investors where they can gather all information related to investing in the Sarajevo Canton in one place. We have established a systematic and transparent registry of incentives.
- We have shortened deadlines and reduced costs for obtaining permits in Sarajevo Canton institutions and established a legally secure online registry of administrative procedures in Sarajevo Canton, link: https://ap.ks.gov.ba/.
- The online registry contains information on all administrative procedures conducted at the cantonal administration level. This ensures easier access to information for users and increases the transparency of administration work. In June 2017, we passed a new Spatial Planning Law for Sarajevo Canton (Official Gazette of Sarajevo Canton 24/17), which includes the introduction of a one-stop shop system in the process of obtaining building permits.
- We have created an internet portal with a central record of Sarajevo Canton regulations, enabling the search and online access to regulations of cantonal authorities, link: http://propisi.ks.gov.ba.
- We listen to the voice of the private sector and through meetings with entrepreneurs and the Chamber of Economy of Sarajevo Canton, as well as business forums, we establish closer cooperation between the Sarajevo Canton Government and businessmen, connecting businessmen to meet new potential partners and exchange experiences, presenting investment opportunities in Sarajevo Canton, and discussing a range of issues important for the private sector, such as the significance of education for labor market needs.
- Favorable financing for small and medium-sized enterprises is realized through the implementation of the Law on the Incentive for the Development of Small Economy (“Official Gazette of Sarajevo Canton”, No. 29/15). This Law enables support for the development of entrepreneurship centers, business incubators, clusters, technology parks, and small business zones. For the implementation of the Law, funds are planned annually in the Sarajevo Canton Budget ranging from 0.5% to 2% of the previous year’s budget value. In addition to providing favorable credit funds with subsidized interest rates, the Sarajevo Canton Government provides funds every year for the implementation of other incentive measures for small and medium-sized enterprises.
- Within the Credit Guarantee Fund of SERDA, businessmen in the Sarajevo Canton have access to loans through subsidized interest rates. Two credit lines are available to businessmen: the first line from 5,000 to 200,000 KM, and the second line from 200,000 to 500,000 KM. The Ministry of Economy of Sarajevo Canton subsidizes the interest rate by three (3) percentage points, and after the subsidy, it amounts to 0.5%, with the provision of appropriate collateral. The Credit Guarantee Fund of SERDA is a financial instrument to support the development and strengthening of companies, craftsmen, startup businesses, and farmers in the Sarajevo Canton area in cooperation with selected financial partners.
- Investors have the opportunity to invest in Sarajevo Canton through concessions and public-private partnerships (PPP), based on the Concessions Law (“Official Gazette of Sarajevo Canton”, No. 27/11 and 15/13) and the Law on Public-Private Partnerships (“Official Gazette of Sarajevo Canton” no. 27/11 and 16/17). The Concessions Law allows foreign investors to invest in twenty areas of economic activity: energy, hydroelectric power plants, thermal power plants, wind farms, tourism, agriculture, water use, mineral resource exploitation, hotels, and other tourist facilities, health services, etc.
- We have initiated activities to adapt the educational system to labor market needs and encourage education for occupations in demand.
- The “Center for Advanced Technologies in Sarajevo” has been established to promote research and development in natural, technical, and technological sciences.
- The Sarajevo Canton Government regularly allocates incentives to the private sector in the Sarajevo Canton, including incentives for the development of small economy and agricultural incentives. In accordance with the Law on Incentives for the Development of Small Economy, the Sarajevo Canton Government adopted the “Small Economy Development Program for the period 2020 – 2023” in 2020, with the aim of stabilizing economic growth by increasing the number of small economy entities and employment in the Sarajevo Canton.