The Global Development Group of the World Bank, International Finance Corporation (IFC), in partnership with the Ministry of Finance of the Sarajevo Canton presented the Project of regulatory reform in order to improve the business environment and strengthen the competitiveness of the Sarajevo Canton. The project was presented to members of the Cantonal Government and the cantonal directors of independent administrative institutions. The goal of the project, as outlined today, is to increase the competitiveness of the Sarajevo Canton by simplifying permissions and reducing administrative costs to future entrepreneurs.
The changes and improvement of the legislation and raising the level of transparency through the establishment of the electronic register of licenses are the tools which will enable faster and easier registrations and licenses for investors.
"The goal of the project is to establish a one stop shop where all domestic and foreign investors can get all the information about faster company registration and incentives available to investors. We want, together with the cantonal administration, to reduce the procedure, reduce paperwork, reduce costs and risks of companies, and make Sarajevo attractive for investors, "said Tarik Šehović from the IFC. He added that such projects are already implemented in some cantons and municipalities, and the activities about this are also conducted with the Government of the Federation.
Prime Minister Konaković said we are aware of the fact that cantonal administration is behind compared to those in the region and it makes procedures complicated, which often paralyzes and discourages investors. "How we will regulate this area and how well and quickly we can be included in this process depends only on us. We need to regulate it because of our citizens and future investors. The Government of the Sarajevo Canton is ready to be leader of these processes, but the results primarily depend on each of us individually too, "said Konaković.
“The higher levels of Governments in Bosnia-Herzegovina expect it from us so that the entire country can be better positioned in the Doing Business Table" added Konaković. "This project is a priority and a part of the reform process, with the purpose of attracting and increasing investments," added Konaković and expressed expectations and support of the Assembly of the Sarajevo Canton and Mayors of the Sarajevo municipalities in this Project.
