Whether you’re looking to invest in a garment manufacturing company in Bosnia and Herzegovina or are considering relocating to the country, there are a few things you should know about the country’s economy and business environment.
In fact, the economy in the country is one of the best in Europe, with a strong focus on the apparel industry. In addition, Bosnia and Herzegovina is a very stable country with a long history of stability and peace.
Located on the Balkan Peninsula, Bosnia and Herzegovina (BiH) is a country that receives substantial aid from the international community. Its economy relies heavily on exports, remittances and foreign aid.
The government of BiH has undertaken several measures to attract foreign direct investment. The main initiatives are the State Foreign Investment Policy Law, the foreign investors’ support fund and the uniform trade and customs policy. The latter is expected to improve the labor environment and facilitate a transition from a public-to-private led economy.
The primary exports of BiH are machinery, domestic appliances and clothing. The country’s largest trading partners are Western European nations.
The economy of BiH has traditionally been a net importer of food. As a result, food imports are essential to keep up with demand. Agriculture is almost entirely in private hands. It is also difficult to make the transition from a small-scale, inefficient system to a more modern, efficient system.
The legal framework of BiH is complex and often contradictory. However, some efforts have been made to harmonize the laws.
The government of BiH has made significant progress in strengthening the AML regime. However, the prosecutor’s offices lack the expertise to perform large-scale financial investigations. The judiciary is also underdeveloped. It is often difficult for judges to understand expert testimony.
The judicial system performs poorly in areas of money laundering and forfeiture. It is a complex and time-consuming process to establish a business in BiH.
BiH has been in the process of applying for WTO membership. The European Union is expected to improve the labor environment and simplify regulation. The EU Reform Agenda will reduce regulation and move the economy from a public to a more private-led system.
The banking sector is dominated by foreign banks. The Visa Liberalization Agreement with the EU enables easy transit of commodities from Eastern Europe to BiH.
BiH has received large amounts of money in the form of humanitarian aid and reconstruction assistance. A strong banking sector is one of the major advantages of investing in BiH.
The main challenges facing foreign investors are the dual nature of the state and the lack of a single economic space. A poor legal and regulatory environment, in addition to complex labour laws, hinder foreign investment.
Having a long tradition of textile manufacturing, Bosnia and Herzegovina has developed a competitive and cost-effective workforce. The country is also well-linked to global value chains. However, its import-overshadowing economy and complex labor laws have inhibited foreign investment.
As a result, production declined due to poor domestic market conditions in 2012 and 2013. Since then, the industry sector has shown significant growth. In 2016, the total value-added of the manufacturing sector amounted to 12.8% of GDP. This figure is estimated to increase to 3.3% in 2023.
The industry sector is one of the largest in the country. It employs more than 31.7% of the workforce. The majority of these companies are joint-stock enterprises. Some of the biggest players in this sector include Doboj, Kismet, Rentex, Alma Ras Co., and Napredak doo. The government launched a structural reforms program in 2019, aimed at boosting private investments.
The most important exports are clothing, machinery, and raw materials. Agricultural products are also a significant component of the Bosnian economy. In addition, wood is a major export commodity. Other important production sectors are mineral and chemical products, machinery, textiles, and mechanical appliances.
In addition, the country’s agriculture sector is dominated by family-owned farms. The agriculture sector accounts for nearly 18% of the total employment. Its output in 2015 decreased by nearly 4%. In addition, the interethnic conflict has negatively affected the economic development of the country.
The textile manufacturing market in Bosnia and Herzegovina is expected to expand at a rate of three percent over the period of 2016-2020. The made-up textile articles segment accounted for most of the revenue share.
In addition, knitted fabrics and crocheted fabrics became an integral part of the textile manufacturing market. These products generated over 850,000 pounds of sales in 2014.
The country is a potential candidate for EU membership. In 2008, the government signed an Interim Agreement on Trade and Trade-related Issues with the EU. Its primary trading partners are Western European countries, other former Yugoslav republics, and Croatia. The EU is the region’s largest import and export partner.
Despite Bosnia’s recent war, it has a long history of religious tolerance. Its population has been largely split into three groups: Serbs, Croats, and Bosniacs. There are also a number of minorities.
In the late 1990s, the country suffered a large drop in industrial production. The economy was weak, and most of its industrial output was derived from raw materials and machinery. In the midst of the civil war, the national government failed to protect the population.
Most of the country’s economy depends on trade with Western Europe, and other former Yugoslav republics. The main trade partners are Croatia, Serbia, and Slovenia.
Historically, the Balkans have been a powder keg for Europe. Its climate is variable and vulnerable to severe earthquakes. In addition, water pollution has become a major problem, as has air pollution. The country receives large amounts of money in the form of reconstruction aid and humanitarian assistance. However, the amount of money that is spent on arts and culture has been virtually nonexistent.
A large number of the country’s Muslims practice zakat, which requires 2.5% of wealth accumulated to be donated to charity. Some women in the Muslim community wear a head scarf. They also visit Christian neighbours on Christmas.
During the war, religious faith was used as a divisive tool. Most atrocities were perpetrated by the Serbs. The national government did not intervene in cases of discrimination against religious groups.
The Pew Research Center has been tracking social hostilities involving religion since 2007. It includes hostile acts by individuals, organizations, and social groups. It is a subset of the larger Pew-Templeton Global Religious Futures project, which examines the impact of religion on societies around the world.
The Pew-Templeton Global Religious Futures has been funded by The Pew Charitable Trusts and the John Templeton Foundation. It annually scans widely-cited sources of information for trends in religion and religious freedom. Its researchers examine 198 countries.
The Pew-Templeton Global Religion Futures project is useful for comparing similar countries. Its researchers comb through publications by a number of independent, nongovernmental organizations.
Located in Southeastern Europe, Bosnia and Herzegovina (BiH) is a country of diverse cultures. The population is made up of Serbs, Croats, and Muslims. The country is split into ten cantons, each of which has its own government. BiH is also a potential candidate for EU membership. However, the country’s progress toward EU accession has been slow.
Before the war, Bosnia and Herzegovina was a strong industrial export-oriented economy. In the 1970s and 1980s, metal industries were promoted by the former republic president Dzemal Bijedic. These industries produced a large share of the plants that were exported from Yugoslavia. The development of these industries resulted in the production of electrical appliances, refined petroleum products, and aluminum.
After the war, the country was divided between the Serbs and the Croats. The Serbs, under the leadership of a virulent nationalist group, began a campaign of “ethnic cleansing” that left millions of people homeless. Many were forced to flee to refugee camps and to Serb-run concentration camps. These camps were notorious for their torture and mass murder.
The civil war in Bosnia ended with the Dayton Peace Accords in November 1995. The United Nations deployed six thousand troops to the country as peacekeepers. It was the first time in history that the UN had used military force to end a civil war.
The government of Bosnia and Herzegovina is bicameral, with three different groups representing the Serbs, Croats, and Bosniacs. The presidents of these groups are elected in elections every eight months. The current leadership structure in Bosnia and Herzegovina was ratified by the Dayton Accord.
The European Union has implemented the EU4Business Recovery project to support Bosnia and Herzegovina’s textile industry. The project has supported 29 local companies with financial and technical assistance. This includes purchasing new equipment and access to new markets. The project’s aim is to retain more than 1,000 jobs.
Before the war, Bosnia and Herzegovina had a highly developed textile industry. In addition to textiles, the country’s main industries were vehicle assembly, mining, and oil refining.
Zenica Textile Company
Located in Zenica City, this company produces quality apparel items such as t-shirts, jackets, jeans and other clothing items for both men’s and women’s fashion lines. It also provides design services that can be tailored according to customer specifications.
Sarajevo Clothing Factory
This factory specializes in producing high-quality knitwear products at competitive prices with fast delivery times. They have a wide range of designs available including traditional Bosnian styles as well as modern trends from around the world.
Jutarnji Textil d.o.o.
This company was founded in 1991 and it produces knitted fabrics, garments, sportswear, lingerie items such as bras and panties, pyjamas etc., using high-quality yarns from Turkey & China while also meeting strict standards of European Union (EU) regulations on labor laws/standards/health & safety requirements etc.. The company works closely with renowned international buyers like H&M Group (Sweden), C&A (Netherlands), Esprit (Germany) etc..
This company specializes in producing denim garments such as jeans pants jackets skirts shorts overalls shirts vests coats dresses blouses waistcoats ponchos jumpsuits playsuits bib overalls aprons caps hats gloves mittens scarves mufflers bags towels beddings handkerchiefs napkins tablecloths flags banners umbrellas rainwear sports wear uniforms work wear protective clothing infant wear children’s clothes nightwear intimates outerwear socks hosiery underwear sandals slippers shoes boots belts wallets purses rugs carpets mats curtains tapestry upholsteries trimmings laces embroidery ribbons zips buttons snaps fasteners hooks eyes sequins spangles studded stones beads patches appliqués transfers flock prints foil prints flocking transfers printing transfer foils UV varnishes paintings glitters glitter foam dye sublimation painting heat-seal print 3D embossing coating quilting tufting jacquard weaving knitting crocheting felting pleating tucking gathering smocking smearing crushing calendaring shearing scouring sueding brushing singeing fluffing stuffing embroidery softening stiffening gassing washing bleaching mercerizing sanforizing crinkling dry cleaning mothproofing impregnations waterproofing fire resistance shrink proof treatments
Bosnia and Herzegovina is home to a number of garment manufacturing companies that provide quality products at competitive prices. These companies are well equipped with advanced production lines, skilled personnel and efficient management systems to ensure the highest standard of product delivery.
Some of the most renowned garment manufacturers in the country include Bosna Moda, El Europa Textiles, Europlastika Tepihi and Fama d.o.o. All these companies have established themselves as leading providers of clothing items for both domestic and international markets over time. They are committed to meeting customer expectations through timely delivery, excellent craftsmanship and high-quality products at attractive prices.
Henry Pham (Pham Quang Anh), CEO of DONY Garment
This year, we have found that many international buyers are seeking new suppliers based in nations outside of China and Thailand to purchase many goods and products, including uniforms, workwear, reusable cloth face mask, and protective clothing.
At DONY Garment, we are proud to welcome international customers, especially those based in the US, Canada, the Middle East, and the EU market to discover the professional production line at our factory in Vietnam.
We guarantee our products are of the highest quality, at an affordable cost, and easy to transport across the world.