Microsoft Innovation Forum held in Sarajevo, Bosnia

New Microsoft technologies and products were presented to the representatives of Bosnian governmental institutions, business life and media today in Sarajevo. Speaking about this important gathering of experts and managers, head of Microsoft in Bosnia - Mrs. Lejla Zukić-Krivdić pointed out that innovations are an inseparable part of this corporation.

"How important the market of Bosnia is for our corporation is illustrated by the fact that the head of the Microsoft Europe, Mr. Jan Muehlfeit, visited this event. In addition to his presentations he will also participate in a very interesting panel, together with eminent representatives of the Bosnian business and the academic community"- added the director of Microsoft in Bosnia.

Procurement notice from Bosnian Telecom - your chance to sell

BH Telecom Joint Stock Company Sarajevo has announced in the „Official Herald of B&H“ No. 38/09 from 18 May 2009 and on www.bhtelecom.ba/poslovni­_odnosi.html the following:

Procurement Notice on GSM Installation Material by Open Procedure No. : 03-7468/09

Subject to Procurement:

LOT 1 - GSM installation material: cables, connectors and roxtec for the GSM base stations

LOT 2 - GSM installation material: installation equipment for GSM base stations

Place of Delivery: Place of delivery is according to Tender Documents.

Tender Submission Deadline: 15 June 2009 Up to 14:00

Tender Procedure: Open procedure.

Orderer/Purchaser: BH Telecom Joint Stock Company Sarajevo, Obala Kulina bana 8, 71000 Sarajevo, Bosnia and Herzegovina.

Tender Documents: Protocol Office (every working-day from 08:00 to 16:00).

Payment for Tender

Documents: Yes, 35.00 KM / 18.00 EUR

Web site: www.bhtelecom.ba/poslovni_odnosi.html

Contact: amina.zekic@bhtelecom.ba or fax: +387 33 22 45 36


73% exports growth make 2008 most successful year ever for Bosnalijek

2008 was the most successful business year ever for Bosnalijek, Bosnian big pharma company.

The company achieved growth in exports of 73 percent on annual level thus increasing it's share in total income from 25 percent in 2007 to 35 percent in 2008. Bosnalijek also maintained the leading position on Bosnian market.

The Board plans to pay part of its profit to shareholders.

The Supervisory Board has adopted a business plan of Bosnalijek for 2009, which anticipates continued sales growth on domestic and foreign markets. Continued global expansion is also envisaged. Planned revenues from sales amount to 112,7 million KM (ca 55 million €), an annual growth of 5,20%.

Since the beginning of 2009 Bosnalijek has launched eight new products on Bosnian market.


Bosnialijek, Bosnian pharma company, expands its operations in Algeria

The quality of Bosnalijek's products and 59 years of experience are Bosnalijek's competitive advantages in Algeria, said Dr. Kamel Guesmi, director of Bosnalijek's representative office in this African country.During his recent visit to Bosnalijek, Dr. Guesmi confirmed that Bosnalijek, regardless of strong competition, would secure its place on the Algerian market.

The World Health Organization (WHO)
has recognized only The Algerian National Drug Laboratory on the entire African continent. This country has very specific regulatory constraints and competitors from all over the world -especially from Jordan, Saudi Arabia, China and India.

''Bosnalijek can offer a high quality product which meets the requirements of the Algerian Ministry of Health, and in contrast to competition, can offer case study results, such as the ones for the drug Lopril whose chances on this market are great''.

According to Dr. Guesmi, Lopril, i.e. Enzypril is going to be a great success on the Algerian market where 3 million of inhabitants are affected by hypertension. Bosnalijek's products, Enzypril and Rhinostop, are currently going through a registration procedure in Algeria, which should be completed within a six months period.

Apart from having a great market for drug placement, Algeria also offers possibilities for the transfer of technologies and know-how in the field of pharmaceutical production. Namely, according to the current regulations in force in this country, the manufacturer is obliged, two years upon registration of its products, to start the production of these very products in Algeria.


Presentation of the Bosnian auto cluster in Duisburg, Germany

Recently the Organization of Industrial and Economic Chamber (IHK) of Duisburg, organized a workshop on the topic of “(Still) Undiscovered Markets in Souteast Europe”.

The emphasis, was placed at the automobile industry in Southeast Europe. Representatives of German commercial branch offices in Bosnia presented macroeconomic state in the country while representatives of Bosnian Auto cluster pointed to the potentials of these state in the accompanying automobile industry. Although global crisis in Germany still causes certain worries - the predicted economic growth for this year should be -5.0%, the interest for this region was still very good.

It should be emphasized that representative of Autocluster BiH and coordinator of Network Autoclusters SEE, in which clusters from Slovenia, Croatia, Serbia, Macedonia and Bosnia are included, had a very positive meeting with a representative of newly formed NEW (North Rhine and Westphalia). This cluster is developed on similar basis as Network of Autoclusters SEE, because it encompasses 8 independent and functioning automobile clusters from this German province. The meeting has shown that there are similarities in concept of development and enough meeting points for future possible joint activities.

Prime Minister lectures in Vienna on topic "Bosnia – Chances in the Economic Crisis"

Vienna, May 19 – PM Nedzad Brankovic, on invitation of the Political Academy of Austrian National Party, Institute for the area of Danube and Central Europe (IDM) and World Public Forum “Dialogue of Civilizations” held a lecture yesterday at the Eschenbach Palace in Vienna on the topic “Bosnia – Chances in the Economic Crisis”.


Bosnian MIMS-group joins Clinton Global Initiative

Representatives of the MIMS-group attended closed preparatory working meeting with directors of companies that are members of Clinton Global Initiative, in Washington. MIMS-group recently become a member of this prestigious organization as the first Bosnian enterprise to do so.

The meeting was chaired by President Bill Clinton and moderated by Mr. Kemal Dervish, until recently director of the UNDP and current Vice-President of the Brookings Institute. Among others the meeting was attended by Mr. Muhtar Kent the CEO of Coca-Cola and Patricia Voertz, the CEO of Archer Daniels Midland, the largest company in the world in the field of Agriculture.


Japanese interest in highway construction in Bosnia

On the margins of the annual meeting of the Board of Governors of European Bank for Reconstruction and Development (EBRD), held in London, Bosnian Foreign Minister Sven Alkalaj met with the Head of the Delegation of the Japanese Agency for International Cooperation (JICA) Mr. Hiroto Arakawa.

Minister Alkalaj and Mr. Arakawa exchanged opinions on current and future cooperation of Bosnia and Herzegovina and the Government of Japan.

Arakawa has expressed a special interest of Japan to participate in the grand project of highway construction through Bosnia on the international Corridor 5C, and with this in mind, agreed that concrete cooperation in this project should be agreed upon by the Embassy of Japan in Bosnia and Herzegovina.

Intensifying economic cooperation between Bosnia and Jordan

Bosnian Presidency member Željko Komšić and Jordanian King Abdulah II met in Amman and agreed that, in addition to the excellent cooperation on the political level and exceptional friendly relations, the two countries need to intensify economic cooperation between for which there are great opportunities in all economic areas.

King Abdulah II confirmed the return visit of the Jordanian Royal Couple to Bosnia during August.

The press release states that Komšić participated in the work of two-day Summit of the World Economic Forum in Amman and the session "The Union for the Mediterranean", where new possibilities and modalities of cooperation between Mediterranean countries were discussed.


The 30th fair of building, civil engineering and architecture in Sarajevo in May

The fair "BUILDING AND RECONSTRUCTION" is a yearly event marking it's 30th anniversary this year. It's considered as one of the best economic events in the Region, through which novelties in the world of building, civil engineering and architecture are being presented. This year the even will take place 19-22 May as "Centar Skenderija" in Sarajevo, Bosnia.

The fair combines the following fairs:
34th International fair of plastic and rubber - "PLAGRAM"
31st International fair of building and accompanying building industry
19th International fair of crafts, tools and machines
13th International fair of heating, cooling, air-conditioning plants and sanitaria - "INTERKLIMA"
8th International fair of installation, lighting, electro technique and industry electronic - "INSTAL"
4th International fair of commune equipment and equipment for environment protection
2nd International fair of commercial vehicles, transport, logistics and supporting industry
1st Fair of Real Estate, investment and development. - ''SAREX''

In the past 13 years, over 9000 Exhibitors & Co-exhibitors were presented on "BUILDING AND RECONSTRUCTION", and in 2008. this manifestation gathered over 500 Exhibitors & Co-exhibitors on 18000 sqm of exhibition space.

More info here.


Bosnia has excellent wind power potential

Bosnia has excellent resources for using the wind power and it is one of its chances to attract foreign investments, generate jobs and increase its GDP.

These were some of the messages heard at today's presentation at the German embassy in Sarajevo, during which the ambassador of Germany to Bosnia - Joachim Schmidt - awarded the Minister of Foreign Trade and Economic Relations of Bosnia and Herzegovina the electronic wind map.

As the ambassador Schmidt said, it is a document based on meteorological data collected during 30 years, which allows assessment of the wind situation for each area of Bosnia.

Ambassador Schmidt has further stated that the total wind energy potential in Bosnia is about 2000 MW, but it is considered that around 900 MW could be utilized.

It was also announced that the study showing how the possibilities of connecting proposed wind mill parks to existing electric grid, roads and other infrastructure will be presented by the end of the year.

"Bosnia has excellent resources. Use the resources that are available" - said Dr. Sander, an international expert in wind energy.


Bosnia Bank International VIP Club holds presentation in Zenica, Bosnia

Bosnia Bank International Club, a business club that was founded by BBI two years ago to help connect the Bosnian businessmen with the businessmen abroad with emphasis on liquid markets of the Organization of Islamic Conference (OIC), will be presented to local business people in Zenica on Wednesday 13th May.

BBI VIP Business Club gives its members the opportunity to enter into direct contact with all companies and financial institutions from abroad that Bosnia Bank International has business relationships with in order to, through these links, help it clients on foreign markets and attract foreign investment to Bosnia and Herzegovina.

Presentation of the BBI VIP Business Club will be held on 13th May at 13:00 in the "Hotel Zenica" in Zenica.


UniCredit Bank opens new credit line for Bosnian enterprises worth 45 million euro

On the meeting with the Bosnian Minister of Finance and Treasury Dragan Vrankić, director of UniCredit Group Alessandro profumo said that there was great interest for investment in infrastructure and energy projects in BiH. Profumo also announced signing a new contract with the European Bank for Reconstruction and Development, worth 45 million euros and the intended starting of credit line for lending to small and medium enterprises in Bosnia and Herzegovina.

US Vice-President Joe Biden is coming to Bosnia on May 19th

SARAJEVO, May 6 – US Vice-President Joseph Biden will arrive to single day visit to BiH on May 19th; Fena finds out today from diplomatic sources in Sarajevo.

According to these sources, Biden will meet in Sarajevo with BiH Presidency members, BiH CoM Chair Nikola Spiric and HR/EUSR Valentin Inzko and his Deputy Raffi Gregorian.

There is also a possibility, according to the sources, that Biden will meet at the US Embassy with leaders of more important political parties, but that this meeting still has not been confirmed.
The White House has announced earlier that Biden will visit SE Europe around May 18th.
- Vice-president will visit SE Europe in the week of May 18th. He will visit BiH, Serbia and Kosovo; it is said in that announcement.

Source: FENA

Bosnian Energoinvest sold licence to Korean Iljin Electric Ltd.

SARAJEVO, May 7 - Energoinvest d.d. Sarajevo concluded the Contract with Korean company "Iljin electric Ltd." on selling the license for production of the plants of EMOP type, which moves the newest generation of the high voltage SF6 switches of the Energoinvest production type SFEL.

Further sales to the Korean company, as well as joint development projects within energy filed have been announced. The representatives of Iljin Electric Ltd will visit Energoinvest for further talks in July.


Indexes at Sarajevo Stock Exchange witnessed growth in April

All indexes of the Sarajevo Stock Exchange experienced growth in April.

The Sarajevo Stock Exchange Main Index (SASX-10) rose by 9.67 percent compared to the previous month.
The investment fund index (BIFX) rose by 5.88 percent while Value Index SASX-30 rose 6.55 percent.

The mostly traded stock was the one of "Bosnalijek" dd Sarajevo rising by
18.35 percent. It was closely followed by "Sarajevo osiguranje" dd Sarajevo, whose stocks rose by 13.07 percent.

When it comes to Investment Funds the biggest increase
was noted by Stock Fund IF "BIG Invest. Gr." d.d. Sarajevo whose shares rose by 17.73 percent.

On the other hand funds IF "Bosfin" d.d. Sarajevo and "Herbos Fund" d.d. Mostar, had it's stocks fall by
4.89 and 7.04 percent respectively.


Bosnia, IMF agree 1.2 bln euro 3-year deal

SARAJEVO, May 5 (Reuters) - Bosnia and the International Monetary Fund (IMF) agreed a 1.2 billion euro ($1.61 billion) deal over three years to lessen the impact of global economic crisis, Bosnia's Prime Minister said on Tuesday.

The agreement was postponed from the last week to give Bosnian officials more time to pin down technical details and government guarantees about the implementation of policies requested by the lender under the arrangement.

The agency has stepped up its presence in the Balkans as nearly all states are entering recession and many seeking its help, although they had hoped the region could avoid the worldwide downturn.

The National Fiscal Council has projected an economic contraction of 1.5 percent in 2009 and flat growth in 2010. The IMF's latest forecast for Bosnia this year was a 3 percent contraction of GDP.

Širbegović group signs agreement of understanding worth 100 million € with Malaysian HDC

Faruk Širbegović, CEO of Širbegović Group, has today signed a Memorandum of Understanding with Malaysian HDC on cooperation on the project of the first "Halal Park" in Bosnia. The deal was signed in Kuala Lumpur, Malaysia.

The plan is to locate "Halal Park" in a business zone of Širbegović Group in Gracanica, Bosnia. Current value of the project is estimated to around 100 million € with projected profits of 500 million € a year. Within two years, needed for Halal Park to achieve it's full capacity, several thousand new employment opportunities will be generated.

"The potential for food production in Bosnia is currently estimated to be around 4 billion €" - said Faruk Širbegović, and added: "Malaysia and Bosnia have for long enjoyed good relations, and we are delighted to extend our cooperation in this manner. We invite our Malaysian counterparts to seize all those tremendous business opportunities that Bosnia has to offer. This project also presents the possibility for Malaysian companies to take advantage of the Bosnian "Halal Park" as a platform to enter the EU market."


Tourism big chance for Bosnia says Al Fahim - President of Dubai Pearl Group

Abdul Majeed Ismail Al Fahim, was one of the consultants at the beginning of the work of BBI Bank in Bosnia, the first and currently the only bank in Bosnia, which operates on the principles of Islamic banking. Al Fahim, in an interview for the "Leader" says that the support and the establishment of banks in Bosnia was done with the intention of promoting the concept of Islamic banking to Europe through Bosnia.

Even if he only stayed in Bosnia for a day, Al Fahim said that he had a sufficient view from the plane to see that the investment potential of Bosnia is huge and that it is only a matter of time before it is detected and exploited, especially in the tourism sector.

"I know a lot of people from Bosnia, and I have read about that country, but I did not expect it to be so beautiful. I am very impressed with landscapes that I saw, with the mountains that surround your valley. I think that the mountains are great opportunities for tourism development because I believe that many people will come to them to rest and enjoy the snow. The whole region can become a strong tourist destination. This is a great opportunity for your country. You have a lot of thermal springs, which can also be connected with tourism, but also treatment and all that should be used" - said Al Fahim.

"As far as I know, Bosnia has great human resources. I have experience with one of Bosnians who ran one of my factories in Abu Dhabi. When he went for hollidays we really felt his absence, and we hardly waited for him to return. So I have a good opinion of employees from Bosnia" - said Al Fahim.


Breaking News! Bosnia about to privatize 12 biggest enterprises

Agency for Privatization (APF) will announce a public call for expressions of interest for participation in the privatization of 12 major state companies, in mid of this month . This public call serves as a proof of the readiness of the Government to begin the privatization of large state-owned company that has been largely awaited for years.

All interested parties will be invited to present a letter of intent and show interest in participation in the privatization of 90 percent "BH Telecom", 50 percent "of Croatian telecommunications" and 90.33 percent of "Agrokomerc".

Public invitation will also include 67 percent of capital of "Energoinvest" and "Hidrogdanja", 67 percent in "Sipad export-impor"t, and the same package of shares in the "Unis".

On the list for privatization are also 39.91 percent of the "Sarajevo Tobacco Factory(FDS)", 19.85 percent of "Bosnalijek" and 45.49 of "Sarajevo-insurance."

The remaining 22.12 percent equity in the "Energopetrol", and the majority package of shares from 51 percent in "Remontni Institute" from Travnik will also be offered.

APF ask the interested bidders to provide letter of intent including information about which enterprises that are interested and the manner and method of participation in the privatization. On the basis of all the information it receives, AFP will determine the dynamics, the method and other conditions of privatization of 12 companies.


Bosnia opens for state owned banks

In a bid to fight rising interest rates the government of Bosnia adopted The Law on Deposit Insurance on 29th April 2009 practically allowing the establishment of state-owned banks.

Changes in the legislation, if accepted by the Bosnian Parliament, will allow the banks in which the state owns more then ten percent of shares to participate in deposit insurance, which will put them in equal position with the private banks.