se times
17/03/2011
Contracts are going up in smoke amid the protracted battle between Muammar Gaddafi and rebels trying to unseat him.
By Jusuf Ramadanovic for Southeast European Times in Sarajevo – 17/03/11
Contracts are going up in smoke amid the protracted battle between Muammar Gaddafi and rebels trying to unseat him.
By Jusuf Ramadanovic for Southeast European Times in Sarajevo – 17/03/11
BiH companies have largely suspended work in Libya and other Arab countries due to the unrest in the Middle East. Analysts say the BiH economy stands to suffer a heavy blow as a result.
"The value of the projects in Libya is over 1 billion euros. The majority of the companies have not collected their receivables, and a lot of equipment and materials remain in Libya, whereas around 1,000 workers returned. The situation is very uncertain -- nobody can control or predict what is going to happen in the future," Sarajevo University Economics Professor Muris Cicic told SETimes.
Cicic said the biggest affected companies are holding meetings with the BiH Chamber of Commerce to form a strategy to deal with the crisis. ...more...
"The value of the projects in Libya is over 1 billion euros. The majority of the companies have not collected their receivables, and a lot of equipment and materials remain in Libya, whereas around 1,000 workers returned. The situation is very uncertain -- nobody can control or predict what is going to happen in the future," Sarajevo University Economics Professor Muris Cicic told SETimes.
Cicic said the biggest affected companies are holding meetings with the BiH Chamber of Commerce to form a strategy to deal with the crisis. ...more...
read more: se times
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