Member Article

According to recent media reports, the Bosnian Central Bank (BCC) has presented information regarding the scope of investments made by the country's diaspora. More precisely, it has been reported that more than EUR 1.5 billion of investments are being made by the Bosnian diaspora each year through remittances and formal channels – meaning that the exact figure is even larger when accounting for other, informally made investments which have been proven to exist. If to some these figures seem somewhat overblown, it should be noted that there are around 2 million registered citizens of BiH around the world, ranking the country 1^stin Europe and 7^thin the world when looking at the share of immigrants in relation to the population, at the same time further showcasing the importance of diaspora's involvement in investment practices.

During a recent meeting of diaspora representatives, this importance was particularly stressed by the representatives from England and Netherlands, Anes Cerić and Naida Ribić. Both of them emphasised the high level of interest on behalf of diaspora investors to enter all areas of the Bosnian economy (the latest trend being the eco & rural tourism and healthy food production), while also pointing out the greatest difficulties they have been encountering so far. These difficulties have mainly been attributed to the administrative barriers and compulsory conditions related to foreign investment policies.

Going forward, in order for the Bosnian government to fully capitalise on the interest and resources of its diaspora, its representatives have urged for a restoration of confidence that would include favourable loans and facilitated procedures for them to establish businesses in BiH. In Ribić's words, that should be the first step in the process of changing the mind-set of individuals regarding the economic development of their country, while with the order and discipline that could possibly ensue, the road will be paved for prosperity and progress in Bosnia for many years to come.