Main obstacles for investing in BIH are the constitution, administration and bureaucracy and the authority does not show enough seriousness when it comes to such investments.

One of the main problems still lies in business registration.

These were the words of Giulio Moreno, head of the European Bank for Reconstruction and Development (EBRD) at the presentation of the "White Book" for 2009, prepared by the council of foreign investors in BIH, with a purpose to offer suggestions to the domestic authorities to resolve key obstacles for investments.

"White Book" entails eight segments: business registration, residence and work permit, taxes, construction permits, employment rights, laws on business entities, executive procedure and company liquidation in BiH.

BiH minister of Finance and Treasury Dragan Vrankic stated that without speed up and thorough reforms, BiH will not be able to reslove the problem of economic lagging and start the economy towards growth and development and added that "White Book" once more underlines that BiH authorities have to work more efficient and faster.

Vrankic underlined that due to complexity of internal structure of the country, there is not enough dedication to reforms and that change is slow, compared to neighboring countries.

''That we could work faster and be more efficient is shown in the latest realization of the arrangement made with IMF", added Vrankic.

HR Valentin Inzko stated that the key reform processes in BiH are delayed without any good reason, that the economy in BiH has no laws for the 21st century and that authorities have to rationalize and modernize the system and develop mechanisms for cooperation between employers and workers through the economic and social council.

The foreign investors’ council was formed in 2006 as a non-profit organization and its members until now invested more than 4 billion euro in BiH and helped employ almost 11.000 workers.

The basic purpose of this council is to represent interests of foreign investors in BiH.

ncil is to represent interests of foreign investors in BiH.