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Sarajevo Times > Blog > BUSINESS > How one of the poorest Municipalities in BiH became the “Valley of Millionaires”
BUSINESS

How one of the poorest Municipalities in BiH became the “Valley of Millionaires”

Published: November 3, 2024
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The city was neglected for a long time and was among the most underdeveloped local communities in the entire country

Siroki Brijeg is known to the public today as the “valley of millionaires”, and that nickname is accepted by the public.

According to data, there are 129 companies in this city whose annual revenues in 2023 were over a million BAM. As many as six companies had revenues of over 100 million BAM. Few cities in BiH can boast of that.

The city was renamed Listica

At a closed meeting of the collegium of the Assembly of the People’s Republic of Bosnia and Herzegovina (BiH), by party decree in 1952, Siroki Brijeg was renamed Listica after the river of the same name that flows through its center.

The name Siroki Brijeg, which did not suit the communist authorities, was returned on October 16th, 1991, at the session of the Listica Municipality Assembly.

More and more successful companies

The current mayor of Siroki Brijeg, Miro Kraljevic, recently said that the current local administration recognized in time the importance of creating a favorable business environment as one of the basic prerequisites for attracting investors and further economic growth.

”The city of Siroki Brijeg has attractive locations for new investments, and city services are a constant support for all entrepreneurs and investors. Three business and industrial zones have been established in Siroki Brijeg so far. About 500 companies and about 550 independent businesses and trades are active and operating in Siroki Brijeg. The companies achieved more than two billion BAM in revenue, and the profit was more than 200 million BAM,” said Kraljevic recently.

According to him, the economy of Siroki Brijeg is a positive example of growth and development.

”Our employers continuously expand production and create new jobs. Therefore, we are confident that these trends will continue. There are announcements about new facilities and industrial facilities, and this is visible at every step. We constantly have requests to expand the capacity of business zones,” Kraljevicpointed out.

He added that the level of employment is increasing, and the number of employees is continuously increasing and is currently approaching the number of 9,000.

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