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Business Friendly Certificate (BFC SEE)

Business Friendly Certification South East Europe (BFC SEE) is a unique program for improving the competitiveness of local governments in the Republic of Serbia, Croatia, Macedonia and Bosnia and Herzegovina.

This program is intended for cities and municipalities that have the appropriate capacity and are strategically committed to improving the economic environment, attracting investment and encouraging the development of the local economy.

Certification of cities and municipalities implies fulfillment of 10 criteria related to the quality of services and information provided by local self-government units to existing and new investors.

The City of Zvornik has proven that meets 90.67% of the set criteria and based on that gained the status of a city with a business friendly environment.

Criteria for a favorable business environment

The quality of the business environment is assessed on the basis of 68 sub-criteria grouped into 10 criteria:

  • Strategic approach to local economic development,
  • Organizational capacity for supporting the economy (Office for Local Economic Development),
  • Cooperation between the public and private sector (The Economic Council),
  • Efficient system of services for issuing building permits,
  • Availability of an analytical basis for supporting the local business community and attracting investments,
  • Activities to promote investments and quality of the business environment in the city/municipality,
  • Predictability of operating costs and responsible financial management,
  • Monitoring the dynamics of the local labor market and an active attitude towards the identified situation and needs,
  • The city/municipality provides support for the development of entrepreneurship,
  • Adequate infrastructure and reliable utilities.

Advantages of certification of business friendly environment

The program provides cities and municipalities with a clear roadmap for creating a favorable business environment and introducing internationally recognized standards of efficient and transparent local administration.

For investors looking to move or expand their operations in South East Europe, BFC SEE serves as a standardized tool for assessing the local conditions for doing business, indicating which municipalities in the region provide the best investment climate.

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More information on the program and methodology of the certification process is available at: http://bfc-see.org/