The Republic of Srpska received the Financial Times Award as one of the 10 small region of the future for 2018/2019 year in Cannes yesterday.
With this award, Srpska was ranked as one of 10 small regions of the future for 2018/2019 for the strategy of attracting foreign investments. The award was organized by FDI magazine, which issues the Financial Times. The award was presented to the representative of the Ministry of Economic Relations and Regional Cooperation, Nemanja Kovačević.
The data was collected for 489 locations (cities in the region) in five categories: economic potential, cost efficiency, human capital, infrastructure and business environment. In addition to that, the sixth category – a strategy for attracting foreign investments – was also evaluated. In this category, the best locations for investing were selected amange 146 applications.
The Ministry of Economic Relations and Regional Cooperation has announced that this award represents a significant promotion of the Republic of Srpska on the international map of investment locations and is the result of various activities carried out by the Ministry in cooperation with other ministries and local self-government units.
The prizes were also given to the cities of Bijeljina and Zvornik (for cost efficiency) and Prijedor (for cost efficiency and strategy), which are members of the Cooperation Network of the Ministry. Through out the Partnership Network, a post-investment support program for investors was being implemented, which aims to eliminate business barriers and encourage existing investors to reinvest, the Ministry said.
The Ministry points out that in addition to this program, other programs attracting foreign investments are systemically implemented.