Business Friendly City
The City of Banja Luka was awarded an international BFC SEE (Business Friendly Certification South East Europe) certificate in 2015.
It scored 92,5% out of possible 100%, fulfilling thereby 12 very demanding criteria and more than 80 subcriteria for the improvement of service quality and information that local self-government units provide for business people and foreign investors.
BFC SEE criteria
The quality of a local business environment is evaluated based on 80 certification subcriteria grouped in 12 criteria:
- Strategic approach to local economic development
- Organizational capacity for supporting the economic sector (Office for Local Economic Development)
- Engaging economic sector in local administration activities (The Economic Council)
- Efficient system for issuing building permits
- Availability of information and data bases relevant for doing business
- Investment promotion based on marketing principles
- Creditworthiness and financial stability
- Promoting employment and HR management
- Encouraging PPPs
- Adequate infrastructure and reliable public services
- Transparent and stimulating policy with regard to local taxes, charges and incentives
- Application of IT.
The BFC SEE seal of quality has shortly become a widely recognized indicator of an efficient local administration and a favorable investment environment in South East Europe. The program ensures a stable business environment that guarantees that the same level of services will be delivered to investors by all certified cities/municipalities.