A year to remember: These giants set a new framework for Bosnia and Herzegovina. economy
The year behind us was very challenging, full of twists and turns and shocking news both domestically and internationally.
As is known, capital is very “timid”, so in times of uncertainty, companies usually give up investments and expansion, cut costs and turn to preserving their market position.
However, this year, despite the crisis, numerous domestic companies continued to invest strongly, expand their business and even enter completely new areas of activity, writes BiznisInfo.ba.
Some of them were very successful in this and managed not only to improve their own market position, but to contribute to the stabilization of the overall economic conditions in BiH by opening new jobs and paying large sums into state budgets.
Certain domestic companies have grown so much that they have taken precedence over foreign competition and have shown that BiH. companies and experts capable of the most complex jobs and the largest ranges. The past year was successful for a large number of BiH. companies, and we will mention only some of them.
Bingo Group
The Bingo company continued to grow in all segments this year. Bingo continued to expand its retail network by opening new facilities,and invested heavily in strengthening its distribution network. Therefore, it enters the next year as the undisputed leader in the field of retail sales.
In addition, they continued to strengthen their own production in the various areas in which they operate. They also invested in their own production of electricity for their facilities by installing solar power plants.
It is very important to point out that this year they paid special attention to improving the position of employees. Today, the group has close to 9,000 employees. The average net income of employees in the trade is 1,049 KM, which is a gross amount of 1,430 KM. Assistance in the amount of 1,080 KM was paid to the accounts of all employees of the group, and Bingo allocated close to 10 million KM for these purposes.
Bingo continued with the opening of facilities
In the last almost 30 years, Bingo Group has invested over 850 million KM on the domestic market, which makes this group the largest domestic investor. These investments include investments in production, acquisitions, growth and development, technology and people.
ASA Group
ASA Group, which operates in several sectors, continued with investments and acquisitions this year, with constant organic growth. This particularly applies to the financial sector, where this domestic group managed to take over one of the key roles on the market.
ASA Bank acquired Sberbank, while ASA Osiguranje took over Central Insurance.
ASA Hospital in Sarajevo
This means that the group enters the new year as the third largest bank in FBiH (by total assets) and the leader in the insurance market (by gross premium). BiH has never had such a strong domestic player on the financial market.
In addition, the construction of the first domestic hospital – ASA Hospital in Sarajevo, which will employ around 350 employees, is nearing completion. The hospital will have 180 hospital beds on 8 floors, 10 operating rooms, 12 specialist departments, and patients will have almost all medical services at their disposal.
Euroasphalt
The company Euroasfalt has become a real giant in recent years, and this year it confirmed that status with new contracts. Its growth made it possible for a domestic company to get large jobs on the construction of highways in Bosnia and Herzegovina as the main contractor, not as a subcontractor.
This year, the company signed a contract with UMB, the largest Romanian construction company. Together, they got a job in that country worth almost 400 million euros.
Euroasfalt grew into a giant
In addition, they received a very important contract for the construction of Corridor 5C on the section near Tešnj, and the works are starting these days.
Euroasfalt is part of the consortium building the D 403 road – which is currently one of the most important and expensive infrastructure projects in Croatia. The company performed large jobs in Montenegro and Slovenia, which is why it can be said that it has become one of the regional leaders.
Hifa Oil
The company Hifa Oil started its journey as an oil distributor, but in the meantime it has expanded its business to various areas. First, it was the metal sector where she repeated her success in the oil business, but she didn’t stop there either.
This year they made a special step forward in what we can call the “business of the future”, which is solar energy. Through its solar energy department, Hifa Oil has become a leader in this field, so many investors entrusted it with the installation of solar power plants, which are becoming increasingly popular.
Hifa Oil entered the “business of the future”
It is good that a domestic company is leading the sector in this area, which has enormous potential and whose time is yet to come. The group also entered the furniture sector with the acquisition of the company Hit Design, and they have already increased their turnover by 200 percent and the number of employees has increased by 215 percent.
In the end, many other companies had a very successful year and announced an even better 2023. They showed that the crisis is just a word and that the best way to overcome it is to invest even more strongly and boldly and expand business.
(https://www.biznisinfo.ba/)
