Muharem Šabić, Minister of the economy of the Sarajevo Canton and Muamer Mahmutović, President of the Sarajevo Canton Chamber of Commerce discussed the common future cooperation with the aim to improve the economic development of the Sarajevo Canton, implementation of the planned joint activities in the neighboring countries with the same intentions, organizing the International Business Forum of the Sarajevo Canton in 2016, as well as the positive effects of favorable loans for small and medium-sized enterprises (SMEs) through the implementation of the new "Small Business Development Incentive Act ." The new Law regulates the systematic planning and provision of funds and the implementation of measures and activities in this perspective area of the economic development.
When it comes to the development of SMEs in the Sarajevo Canton, Minister Šabić specified that measures, such as crediting of subjects of small business on favorable terms, subsidizing the bank interest of loans raised, giving support to the development entrepreneurship center, business incubators, clusters, technological parks and zones of small businesses are considered in the mentioned Act .
"The Sarajevo Canton Chamber of Commerce fully supports the work of the current Sarajevo Canton Government for solving economic problems and making a better business environment, as well as attracting new investment projects. We are grateful to the Minister Šabić who recognized the importance of our Chamber. Considering the real possibilities, as well as the comparative advantages of the Canton which are not used in the best way, a joint cooperation between the Ministry and the Chamber of Commerce is of great importance for the further sustainable development of the Sarajevo Canton", said President Mahmutović .
The need of current practice change and legislative harmonization of municipal levels with higher levels of government is emphasized on this meeting. In practice, it means that investors would start business faster, easier and cheaper. The current "LIFE Project" which is conducted by the World Bank Group, with the support of the British Embassy in Sarajevo and the Sarajevo Canton Chamber of Commerce.
In this regard, the minister Šabić explained that the Sarajevo Canton is implementing the regulatory reforms project in collaboration with the International Finance Corporation (IFC), a member of the World Bank, in order to improve the business environment and strengthen the competitiveness of the Sarajevo Canton.
"The project aims is to increase the competitiveness of the Sarajevo Canton by simplifying permits issues and to reduce administrative costs to interested investors and future entrepreneurs," said Minister Šabić.
