Although our company had subsidiaries in seven European countries and the USA and various investment opportunities, my wish was to invest in my country as much as possible.
He gained his work ethic and adopted life principles in Bosnia and Herzegovina while he achieved business success in Germany. We have talked with the renowned businessman Muamer Jarović about his selfless investments in B&H, as well as the country needs to change in order for people from the diaspora to invest more in it.
What moves and inspires you so much to invest in Bosnia and Herzegovina?
I was born in Višegrad in Bosnia and Herzegovina, but spent most of my childhood, schooling and working life in Gračanica, which has always been known for its business initiatives.
After completing my studies in Sarajevo and gaining some work experience in the country, I decided accepted a partnership in the German company, Elatec. This partnership with two other German co-owners lasted for a full 30 years. Although our company had subsidiaries in seven European countries and the USA and various investment opportunities, my wish was to invest in my country as much as possible. That’s so simple and wherever a person may be in the world, they are drawn to their roots.
You have been an investor for a long time. Where have you invested and done business in Bosnia and Herzegovina so far?
From the very beginning of the co-ownership with the German company, we formed a subsidiary in Bosnia and Herzegovina, and to date, we have invested in the production capacity of personalization and production of SIM cards and packages as well as payment cards (Mastercard and Visa) in Gračanica which is certified by the GSM Association, is unique in this part of Europe and is one of 12 such centres worldwide. It employs more than 60 young experts in the production and development of smart cards.
The diaspora carries a great potential for the country, which is quite untapped.
In addition to this basic investment through the company Ecoenergy, of which I am the majority co-owner, together with my long-term business partner from Germany, the HLV Company, we invested in the construction of a small hydropower plant in Goražde, and in recent years, in the construction of solar power plants in Stolac (near Mostar).
Also, my company – Agile Capital Management – employs a group of IT experts in Tuzla who provide support and development programmes for our partners in Germany. They have really good jobs here, with fair conditions and wages, and feel no need to work abroad.
You have invested a lot in Bosnia and Herzegovina and boosted employment here. What has the country given back to you and in what way has it influenced you as a person?
You will always be identified in the world by your country, even though you have been living abroad for so many years. This is what motivates me to do something for Bosnia and Herzegovina, without expecting much back. Our people always land on their feet in every situation and always find a new perspective with a dose of humour. “No problem” is a saying that our foreign partners will never understand.
What Bosnia and Herzegovina needs to change and improve in order for people from the diaspora to invest more in it?
First of all, it needs to provide legal security and protection for investors, followed by efficient administration and less corruption. The diaspora carries a great potential for the country, which is quite untapped. We, in the diaspora, have a large number of potential investors, who are highly respected managers and experts in all fields and ready to do something for Bosnia and Herzegovina. This, unfortunately, has not yet been recognized by the authorities in the country. An active continuous relationship with the diaspora (and not only on election-to-election basis) with specific projects, but also guarantees for invested capital, would certainly significantly increase interest and investments in the country.