October 7 (SeeNews) - Bosnia's Brcko district said it will sign a memorandum of understanding (MoU) with Vienna-based agriculture firm Studen Holding on the company's business initiative worth 500 million marka ($280.5 million/255.6 million euro) for improving the local business climate.
The Brcko district government has adopted a decision authorising the district mayor to sign the document with Studen Holding, the government said in a statement on Friday after its cabinet meeting.
Back in June, Studen Group said its initiative should enable growth and development of Brcko's business environment, via the opening of over 4,000 jobs thanks to the 500 million marka investment.
"Investment attractiveness is inevitably reduced to simple and efficient cooperation of foreign and domestic investors with a functional system and stabile environment which enables fast implementation of business," the company has said when first presenting its project in Brcko.
The presentation included methods on how to have high-quality products and services finding their place in Brcko, including business plans in the fields of tourism, agricultural production, entertainment, infrastructure, and processing industry and logistics.
Studen Holding controls Brcko-based Bimal Group, which is a leading oilseed, grain, and edible oil producer both within Bosnia and the Western Balkans. Part of the group is Bosnia's sole edible oils maker Bimal Brcko.
Studen Holding also controls the Studen-Agrana sugar refinery, located in Brcko.
Brcko is a self-governing administrative unit in northeastern Bosnia and Herzegovina.
(1 euro = 195583 marka)