MINIĆ: MULTI-MILLION ISRAELI INVESTMENT IN GRADIŠKA COMING SOON

BANJA LUKA, OCTOBER 6 /SRNA/ – Republika Srpska Prime Minister Savo Minić said that an Israeli company will soon realize a multi-million euro investment in Gradiška, highlighting that an increasing number of foreign companies are recognising that Republika Srpska offers stability and various incentives for potential investors.

Minić has pointed out that recently in Laktaši, the Italian industrial giant PMP opened one of the most modern foundries in Europe, with investments already totaling between 50 and 60 million Euros.

"It took more than two, two and a half years for foreign capital and potential investors to recognise that there is stability here, that the tax policy is attractive in terms of incentives - from electricity and labour costs, to the favourable conditions offered by municipalities in business zones, and incentives provided by the Republika Srpska Government," said Minić.

He emphasized that the fiscal system of Republika Srpska is absolutely stable, as evidenced by all regular payments being made on time.

Speaking about the loan rating, Minić noted that it is more politically than economically threatened, recalling that the former U.S. administration imposed sanctions on individuals and companies and threatened banks.

Regarding the Srpska Forests Public Enterprise, Minić said that progress is visible, noting that wood assortment prices have not changed in 10 years, and caution is required because any price changes will affect the wood processing sector.

"`Forests` has 4,600 direct employees, the wood processing sector over 15,000. If you drastically increase the prices to save the liquidity of `Forests,` you'll cause a domino effect on wood processors," Minić told Euro-Blic.

He stated that revision – related progress has been made, which is being paid regularly, and stressed that all obligations to municipalities and cities are also being fulfilled.

Minić says that over 180 criminal complaints have been filed related to the Srpska Forests - related situation and that it is now up to the prosecutor's office to act.

"I have tasked the Minister of Justice /Goran Selak/ with compiling complete information, since the cases are spread across multiple prosecutors' offices. The aspect of general and special prevention, and clearly determining the flows related to manipulations in `Forests,` will not only be made public but also sanctioned," said Minić.