Wed Dec 13 2017, 8:37:41 +03

The fifth Sarajevo Business Forum has begun

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(Sarajevo-AlummahWorld) The fifth Sarajevo Business Forum (SBF), a two-day International Investment Conference has begun today in Sarajevo with a minute of silence and praying Fatiha for the miners that died in the accident yesterday in the coal mine in western Turkey. Participants will exchange experiences on four themes which are agriculture, energy, infrastructure, construction and tourism.


According to SBF announcement the forum brought together a numerous eminent people from the fields of business, economy of Bosnia and Herzegovina, the Western Balkans region and the world, as well as representatives of the world's largest investment funds. Director of the BBI Bank and organizer of the SBF, Amer Bukvić, said in his opening speech that the Forum has become one of the major business events in the region, and Mr. Bukvić officially declared the opening.


"We are honored that we can be hosts of the SBF in the beautiful Sarajevo." Bukvić said, adding that SBF has become one of the major business events in the region. He pointed out that, after long preparations, more than 150 projects from the various sectors will be reported at the Forum, most of the agricultural sector, and that he had responded to more than 600 participants from Bosnia and Herzegovina, the region and the world.


"Sarajevo is becoming a bridge of a countries from the East to the West. We hope that we will represent an opportunity in this region, not a threat to each other", said Bukvić.


Chairman of the B&H Presidency, Bakir Izetbegović, during his speech, said that Bosnia and Herzegovina is working on the opening 100.000 new jobs in the next few years. He said that the country possesses an educated and cheap labor force and established companies, and that the BH laws in the field of labor and employment are generally consistent with international standards.


"I am convinced that through the coordinated performance, we can attract significant investment for the entire region and open the possibility of connecting to the new markets ," said Izetbegović. He pointed out that Bosnia and Herzegovina is also a state that faces a number of challenges, concluding that all these problems will be solved, no matter how difficult they are.


Speaking of challenges, Izetbegović said that Bosnia and Herzegovina should facilitate visa regime towards many countries, especially the Gulf countries, establish a more efficient judicial system in handling commercial disputes and pay attention to local investors also, as there is still a large funds of public companies that are unused on the accounts of the commercial banks.


President of the Islamic Development Bank Group, Ahmad Mohamed Ali, during the introductory speech, pointed out that the SBF is "gradually becoming one of the most important events that represent a unique opportunity for investment."
"It is an honor and a privilege to participate in this forum. I want to thank everybody that are present here, thank you for the efforts that you have made to create a strong connection between your countries and Bosnia and Herzegovina. SBF has become a strategic platform for building trust and knowledge in this country and throughout the region," Ali said, SBF reported.


He stated that the foreign investments are extremely important for sustainable development, adding that Bosnia and Herzegovina and the countries of Southeast Europe have made great efforts to attract foreign investment. Noting that countries in the region have the potential for development of halal and organic production, Ali said that during the SBF, participants will focus at four regional themes: agriculture, energy, infrastructure, construction and tourism.


"Participants have the opportunity to directly establish an open dialogue with regional leaders and authorities. We will create job opportunities for young people in this region together" Ali said. A former member of the Presidency of Bosnia and Herzegovina and one of the founders of the Forum, Haris Silajdžić said that he is proud of the Forum and he thanked everyone for coming and emphasized that Bosnia and Herzegovina is, in spite of all the difficulties, the good state for investors.


"I hope I do not make mistake when I say that no investor has lost capital in Bosnia and Herzegovina, in spite of all the difficulties, and sometimes unnecessary administrative and frustrating difficulties. We must use our resources, but also the attention of our friends, in the best possible way", Silajdžić said.


He added also: "I want to draw your attention to something that is not very well known here, and that is the power of the brain that the Bosnia and Herzegovina has. Sometimes, these young scientists and researchers, very successful and world-class, are neglected in Bosnia and Herzegovina. Some of them are with us today. Rather than a long speech, I would like to mention a few projects and names, so you know that you can invest in Bosnia and Herzegovina with less cost and with greater profit."


Meanwhile, Minister of Foreign Affairs of Turkey, Mr. Ahmet Davutoğlu also participated in the opening ceremony of the 5th Sarajevo Business Forum on May 14, 2014.

Before the opening speeches of the Forum, participants paid homage to workers who lost their lives in the mining accident in Soma.
According to Ministry of Foreign Affairs Turkey, in his opening speech, Foreign Minister Davutoğlu thanked for supporting messages conveyed in Sarajevo over the mining accident in Soma. Stressing the importance of regional strategic cooperation, Foreign Minister Davutoğlu emphasized that the Balkans will grow as a region if the Balkan countries unite and act together.
The fifth Sarajevo Business Forum has begun.