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Small and medium size enterprises recorded growth


During its 149th session the Government of the Republic of Srpska considered and adopted the Annual Report on the sector of small and medium size enterprises in Republic of Srpska in 2016.

Speaking about the Report, the Minister of Industry, Energy and Mining, Peatr Djokic stated at a press conference that relevant indicators showed growth and development of small and medium size enterprises.

"According to the figures provided by the Agency for Intermediary, IT and Financial Services, there were 39,400 business associations registered in the Republic of Srpska in 2016. Out of that number there were 17,177 SMEs – legal persons, 70 big companies and 22,153 entrepreneurs.

The number of business associations and small and medium size enterprises in 2016 went up by 2% whereas the number of entrepreneurs remained approximately the same.

"This clearly says that it was not true that the number of entrepreneurs in Republic of Srpska was decreasing", the Minister stated and pointed out that SMEs account for 99.9% in the overall structure of companies.

The Srctor of SMEs employs 179,454 people at the moment.

"All business associations which operate in Republic of Srpska have used various types of support and incentives for small and medium size enterprises which have been facilitated from the budget of the Republic of Srpska. In the past period more than 11 million BAM have been allocated as the support to employment in this sector", Minister Djokic said.

Minister Djokic emphasized that the Investment-Development Bank of Republic of Srpska has continuously followed up and supported the development of these companies and that thus far  BAM 34,998700.00 КМ had been used from the Bank through various forms of support.

„All activities in 2016 were performed on the basis of documents adopted by the Government,  various strategies aiming to support strengthening of small and medium size companies and  provision of good training in this sector", Minister Djokic said and added that good business results of those companies contributed to the rise of GDP which recorded a 3.5% growth last year.

Minister Djokic announced holding of the Business Forum at Jahorina that would present achievements and development opportunities in the sector small and medium size enterprises of the Republic of Srpska and Republic of Serbia.

Minister Djokic said that the Economic policy should pay special attention to the sector of small and medium size enterprises and that the Government intended to support this sector in 2018 through many measures aimed at increasing their number and providing support.

Minister Djokic further stated that the Government accepted the Information Note about the Letter of Intent of the "МОRАМ Vаtrоmeti"d.о.о. Pelagicevo about construction of the factory for production of fireworks in the municipality of Pelagicevo. This Company is in the ownership of Israeli citizens. 

"This is a EUR 4 million investment in its initial phase. The municipality of Pelagicevo gave 20 hectares of land without compensation and 20 additional hectares of land would be secured through the purchase from private owners", Minister Djokic specified.

The Minister emphasized the importance of new investments and stressed that the Government would support this project and support facilitation of infrastructure in the area that would also be significant impulse for the development of the municipality of Pelagicevo. 

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