Prishtina, 20.09.2018 – Kosovo has the Law on Strategic Investors, which protects potential investors and gives them guarantees for their investments; we have also signed memoranda with numerous EU countries, and such memoranda play an important role in the sphere of investments, as they grant a more comfortable position for investors in Kosovo, said Minister of Economic Development Valdrin Lluka.
The head of MED made these comments today in the conference “Towards a friendly business and investment climate in Kosovo”, attended also by the Minister of Finance Bedri Hamza, Head of EU Office in Prishtina Natalya Apostolova, representatives of the World Bank, EBRD, IMF and European Investments Council (EIC), and used for the publication of the “White book 2018”.
Speaking in the panel: Kosovo investment climate – challenges and opportunities, Minister Lluka said in the numerous meetings with investors interested to invest in Kosovo he focused on the improvement of the investment climate, in order to ensure that they feel good when coming to invest in Kosovo.
According to him, the Law on Strategic Investments enables investors to cooperate directly with the Government, to bring fellow investors in the country, while granting extra security for the investments of those already operating in Kosovo.
“This also includes spheres covered by MED, such as energy, ICT, and especially the mining sector, as according to the Law on Strategic Investments, the investors are able to negotiate directly with the Government. Therefore, this law has opened the door to investors to negotiate with the Government and for the latter to understand who are the serious investors wishing to invest in key sectors,” he said.
As regards the energy sector, Lluka explained that it does face certain problems but in December of last year, the agreement with the American company Contour Global was signed to construct TPP Kosova e Re, which opens way to the development of new generation capacities, which will directly affect improved conditions for current businesses and those interested to invest in Kosovo.
The head of MED also spoke on investment opportunities offered by strategic sectors, such as mining and information technology, for which there is interest among foreign investors and which may influence the sustainable development of the country.
In their introductory speeches both the Minister of Finance, Mr. Hamza and the Head of the EU Office in Kosovo, Mrs. Apostolova, spoke on the role of investments in economic growth.
Mr. Hamza said that recent economic growth in Kosovo reaches up to 4%, which is the highest growth rate of the region, yet insufficient. “We need to move to a different level of economic growth, and such levels can only be achieved when borne by the private sector,” he said.
Mrs. Apostolova, on the other hand, assessed that investments are key for new jobs. “Today’s meeting aims to present the first edition of challenges for the doing business environment in Kosovo, in telecom, banks, insurance, fuels, mining and mines, giving concrete recommendations on how to improve the business environment in Kosovo. It should also serve as an instrument for the Government to develop further the business environment in the country,” she said.
The “White book” is a comprehensive guideline drafted by the EIC to include proposals for improving the investment climate in Kosovo, in order to entice economic development and creation of new jobs. The main purpose of this document is to contribute to a structure and sustainable dialogue between the private sector and Kosovo Government. The “White Book” is published for the first time, and is envisaged to be published on annual basis henceforth.