Republika Srpska Opens Its Doors to Chinese Capital

Republika Srpska is seeking to open new doors for investment, and the presence of more than 100 Chinese businesspeople at Friday’s Investment and Business Cooperation Forum in Banja Luka confirms that its potential is attracting increasing attention from one of the world’s leading economies.

This was said at the Republika Srpska Investment and Business Cooperation Forum for Chinese Companies, organised by the Chamber of Commerce of Republika Srpska and the Government of Republika Srpska, with the participation of Republika Srpska officials, Chinese and domestic businesspeople.

The forum brought together representatives of institutions, the business community and academia from Republika Srpska with Chinese companies and institutions, with the aim of improving economic cooperation, presenting investment opportunities and creating possibilities for business partnerships and investment, reports Glas Srpske.

President of Republika Srpska Siniša Karan said the forum was the best evidence that Republika Srpska has potential that can be offered for further development.

“Such forums and business investments in Republika Srpska are the best sign of its strength, investment opportunities and the potential we have to offer for the further development of our Republic,” Karan said.

He emphasised that it was particularly encouraging that China, a major and powerful economy, is showing interest in Republika Srpska, adding that this speaks to the potential of Republika Srpska, both the opportunities that have already been utilised and those that are yet to be put into use.

He also stressed that Republika Srpska is seeking to present its potential to investors from around the world, noting that a representative office of the Israeli Chamber of Commerce in Republika Srpska had previously been opened in Banja Luka, while contacts had also been established with American and Russian businesspeople.

“All of this is the result of the persistent and determined efforts of the leadership of Republika Srpska over many years to create an environment that attracts strong economies here,” Karan said.

According to him, creating a stable and predictable environment is crucial for attracting capital, with Republika Srpska seeking to establish itself as a secure investment destination, with as few administrative obstacles as possible and efficient capital flows.

“The interests are mutual. We have things to offer them, just as they have things to offer us, and this is the right way for politics and business to work together to build a stronger Republika Srpska,” Karan said.

Prime Minister Savo Minić said that Republika Srpska is in the midst of a major investment cycle and that it is therefore particularly important to expand cooperation with Chinese partners. He expressed satisfaction with ongoing projects as well as preparations for new business ventures with Chinese companies, particularly in road infrastructure, energy and healthcare.

“I believe there is already a certain level of confidence among Chinese partners, as well as interested businesspeople from Republika Srpska, that we can expand our cooperation into other areas as well,” Minić said.

Ambassador of Bosnia and Herzegovina to China Siniša Berjan said that the embassy had held intensive talks with Chinese companies and businesspeople in recent months, inviting them to familiarise themselves directly with the potential of Republika Srpska.

“They came with a clear intention to discuss economic cooperation and explore investment opportunities,” Berjan said.

President of the Chamber of Commerce of Republika Srpska Goran Račić said that domestic business interest in cooperation with China is at a very high level.

According to him, around 40 domestic businesspeople took part in the forum, either already cooperating with China or seeking to establish new business relationships. Račić singled out energy, food processing and other sectors in which Republika Srpska has resources and competitive advantages as areas with the greatest potential.

“We have excellent resources in the energy sector, and we know that China is a leader in solar energy. We are a country with significant potential in food processing, and we also have a tax system that is more favourable compared with what other Western Balkan countries offer,” Račić said.

Acting Director of the Investment and Development Bank of Republika Srpska (IRB RS) Nedeljko Ćorić said that the meeting of Chinese and domestic businesspeople would provide an opportunity to present concrete projects.

“We have major projects that we are implementing with China and its investors, and I am confident that we will continue in the same direction. We have seven projects from different fields that we will present to our Chinese partners, most of them in the energy sector,” Ćorić said.

SNSD leader Milorad Dodik said that Republika Srpska is making every effort to create opportunities for attracting investment and that cooperation with China is one of its important directions. He said that economic changes in Europe and around the world are creating a need to seek new markets and partners, adding that Republika Srpska is using meetings such as this one to expand the scope of economic cooperation.

“We are seeking these alternatives through forums like this, through the opening of the representative office of the Israeli Chamber of Commerce and through the visit of this important Chinese delegation,” Dodik said, recalling that Republika Srpska already has experience in implementing major infrastructure and energy projects with China, particularly highlighting the Stanari Thermal Power Plant.

Award

As part of the Investment and Business Cooperation Forum for Chinese Companies, acting Rector of the University of Banja Luka Ranko Škrbić received the “Global FRED” award for his contribution to international cooperation and the promotion of Republika Srpska.

“This award is the result not only of my work, but also of the full understanding and support of the institutions of Republika Srpska. I have worked on the development of Republika Srpska, its international promotion and cooperation,” Škrbić said.

The event also saw the signing of an agreement on the donation of agricultural machinery between the University of Banja Luka, the University of East Sarajevo, Jiangsu University and Jiangsu World Agricultural Machinery Company.