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Kosovos Wirtschaft vor riesigen Herausforderungen
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[FONT=Arial, Helvetica, sans-serif]Raiffeisen to support a mega project in Kosovo
[/FONT][FONT=Arial, Helvetica, sans-serif] According to the Austrian newspaper "Wirtschaftsblatt", Raiffeisen Bank will support with loans a 250 Million EUR construction mega project in Prishtina, the capital city of Kosovo (photo).
The ENK Invest Group, owned by five local companies, has already started with the construction of the complex which includes offices, apartments, hotels and shopping malls. The complex, planned to be finished in 5 to 6 years, will offer over 285.000 square meters of floor space.
It is generally expected that the recent final solution of its political status, making Kosovo the youngest independent country in Europe, will increase the interest of foreign investors and will enable an economic boom in some sectors, such as construction.
ECIKS - News and analysis about Kosovo Economy in English
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[/FONT][FONT=Arial, Helvetica, sans-serif] According to the Austrian newspaper "Wirtschaftsblatt", Raiffeisen Bank will support with loans a 250 Million EUR construction mega project in Prishtina, the capital city of Kosovo (photo).
The ENK Invest Group, owned by five local companies, has already started with the construction of the complex which includes offices, apartments, hotels and shopping malls. The complex, planned to be finished in 5 to 6 years, will offer over 285.000 square meters of floor space.
It is generally expected that the recent final solution of its political status, making Kosovo the youngest independent country in Europe, will increase the interest of foreign investors and will enable an economic boom in some sectors, such as construction.
ECIKS - News and analysis about Kosovo Economy in English
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[FONT=Arial, Helvetica, sans-serif]Kosovo and Albania towards a joint market
[/FONT][FONT=Arial, Helvetica, sans-serif] The Albanian newspaper “Gazeta Shqip” reports that the Albanian Minister for Economy, Mr. Genc Ruli, proposed a joint economic programme of Albania and Kosovo for key sectors with a prospect of creating a joint market of over 7 million people.
“Albania and Kosovo are made to cooperate in the energy sector. Kosovo, with its lignite resources and Albania with underused hydro capacities can perfectly complement each other and create an optimal energetic system.”
On the other side, representatives of the Kosovo Government are more reserved on this issue, although they admit the necessity of economic development.
Bedri Hamza, Deputy Minister for Economy and Finances, said:” Its time that we as governments start joint strategies, and unify the legal framework in order to increase economic development”.
ECIKS - News and analysis about Kosovo Economy in English
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[/FONT][FONT=Arial, Helvetica, sans-serif] The Albanian newspaper “Gazeta Shqip” reports that the Albanian Minister for Economy, Mr. Genc Ruli, proposed a joint economic programme of Albania and Kosovo for key sectors with a prospect of creating a joint market of over 7 million people.
“Albania and Kosovo are made to cooperate in the energy sector. Kosovo, with its lignite resources and Albania with underused hydro capacities can perfectly complement each other and create an optimal energetic system.”
On the other side, representatives of the Kosovo Government are more reserved on this issue, although they admit the necessity of economic development.
Bedri Hamza, Deputy Minister for Economy and Finances, said:” Its time that we as governments start joint strategies, and unify the legal framework in order to increase economic development”.
ECIKS - News and analysis about Kosovo Economy in English
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[FONT=Arial, Helvetica, sans-serif]Kosovo: 1 billion EUR foreign investments
[/FONT][FONT=Arial, Helvetica, sans-serif] Around 1 billion euros have been invested in Kosovo, in various sectors, since the end of the war. According to the officials of the Investment Promotion Agency of Kosovo (IPAK), about 2400 foreign companies have been registered in the Business Registration Agency, in the period 2003 to 2007.
“Based on our data, out of 1 billion euros invested in the period 2000 to 2007, 362 million euros are from the privatisation of "Socially Owned Enterprises" (SOEs) and the rest from foreign direct investments,” said Remzi Ahmeti, the director of Investment Promotion Agency of Kosovo.
Ekrem Tahiri, the spokesperson of Kosovo Trust Agency (KTA) in charge of privatization process, said that 30% of SOEs have been purchased by foreign investors. “KTA has no information on the amount of investments by foreign companies, as KTA does not monitor the SOEs privatized by regular spin off, but based on the KTA research, around 120 million euros from the privatization of SOEs comes from foreign investors”, said Tahiri.
ECIKS - News and analysis about Kosovo Economy in English
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[/FONT][FONT=Arial, Helvetica, sans-serif] Around 1 billion euros have been invested in Kosovo, in various sectors, since the end of the war. According to the officials of the Investment Promotion Agency of Kosovo (IPAK), about 2400 foreign companies have been registered in the Business Registration Agency, in the period 2003 to 2007.
“Based on our data, out of 1 billion euros invested in the period 2000 to 2007, 362 million euros are from the privatisation of "Socially Owned Enterprises" (SOEs) and the rest from foreign direct investments,” said Remzi Ahmeti, the director of Investment Promotion Agency of Kosovo.
Ekrem Tahiri, the spokesperson of Kosovo Trust Agency (KTA) in charge of privatization process, said that 30% of SOEs have been purchased by foreign investors. “KTA has no information on the amount of investments by foreign companies, as KTA does not monitor the SOEs privatized by regular spin off, but based on the KTA research, around 120 million euros from the privatization of SOEs comes from foreign investors”, said Tahiri.
ECIKS - News and analysis about Kosovo Economy in English
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[FONT=Arial, Helvetica, sans-serif]EU opens path for Kosovo’s integration
[/FONT][FONT=Arial, Helvetica, sans-serif] The Kosovar daily Zëri reports that the European Commission has welcomed the steps of the institutions of Kosovo toward creating a multi-ethnic society and has opened the doors to the newest state on the continent for integration into the European family. Through a document published yesterday in Brussels by EU Enlargement Commissioner Olli Rehn, Brussels has reconfirmed the European perspective for the Western Balkans after each country undergoes the required reforms.
The paper notes that the document, which is the first one published by the European Commission after the declaration of Kosovo’s independence, presents Kosovo as a special entity and removes every connection between Kosovo and Serbia.
“The European Union remains committed to support the political and economic development of Kosovo. Kosovo, same as the rest of the Western Balkans, has a clear and concrete European perspective. In order to achieve this, the European Commission will use the necessary tools and in particular those that promote democratic reforms, good neighborhood relations and economic developments,” the European Commision said in the document, which was adopted yesterday.
ECIKS - News and analysis about Kosovo Economy in English
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[/FONT][FONT=Arial, Helvetica, sans-serif] The Kosovar daily Zëri reports that the European Commission has welcomed the steps of the institutions of Kosovo toward creating a multi-ethnic society and has opened the doors to the newest state on the continent for integration into the European family. Through a document published yesterday in Brussels by EU Enlargement Commissioner Olli Rehn, Brussels has reconfirmed the European perspective for the Western Balkans after each country undergoes the required reforms.
The paper notes that the document, which is the first one published by the European Commission after the declaration of Kosovo’s independence, presents Kosovo as a special entity and removes every connection between Kosovo and Serbia.
“The European Union remains committed to support the political and economic development of Kosovo. Kosovo, same as the rest of the Western Balkans, has a clear and concrete European perspective. In order to achieve this, the European Commission will use the necessary tools and in particular those that promote democratic reforms, good neighborhood relations and economic developments,” the European Commision said in the document, which was adopted yesterday.
ECIKS - News and analysis about Kosovo Economy in English
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[FONT=Arial, Helvetica, sans-serif]Kosovo: plan for Trepça mines drafted
[/FONT][FONT=Arial, Helvetica, sans-serif] Prishtina - UNMIK Pillar IV is keeping its plan for the revival of Trepca mines in secret until it gets a green light from the Kosovo government.
According to Besa Kabashi, press officer at the Kosovo Trust Agency (KTA), this plan includes setting up a team that will develop pro-active plans for the revival of Trepca’s assets
Blerim Rexha, deputy head of the Ministry of Energy said that Kosovo Government is looking closely into the plan and it will be studied carefully as this is a very sensitive issue to the people of Kosovo.
Nazmi Mikullovci, manager at Trepca said that there is some production at Trepca. According to the press officials of the Independent Commission of Mines and Minerals, Trepca mines fulfil security standards.
ECIKS - News and analysis about Kosovo Economy in English
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[/FONT][FONT=Arial, Helvetica, sans-serif] Prishtina - UNMIK Pillar IV is keeping its plan for the revival of Trepca mines in secret until it gets a green light from the Kosovo government.
According to Besa Kabashi, press officer at the Kosovo Trust Agency (KTA), this plan includes setting up a team that will develop pro-active plans for the revival of Trepca’s assets
Blerim Rexha, deputy head of the Ministry of Energy said that Kosovo Government is looking closely into the plan and it will be studied carefully as this is a very sensitive issue to the people of Kosovo.
Nazmi Mikullovci, manager at Trepca said that there is some production at Trepca. According to the press officials of the Independent Commission of Mines and Minerals, Trepca mines fulfil security standards.
ECIKS - News and analysis about Kosovo Economy in English
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[FONT=Arial, Helvetica, sans-serif]Kosovo Government funds KEK projects with EUR 117.4 millio
[/FONT][FONT=Arial, Helvetica, sans-serif] Remzi Shahini, the managing director of Korporata Energjetike e Kosoves – KEK (Kosovo Energy Corporation) told the news agency KosovaLive that the Kosovo Government has allocated a total of EUR 117 million for KEK. Out of those, EUR 38 million are donated by the Government while the rest was provided to KEK as a loan for capital investments.
Shahini said that KEK’s aims is to use the loan for highly important projects, such as the opening of new coal mine in Sitnica, the change of rotors in “Kosovo B” power plant, the improvement of water supply for power plants and similar projects.
ECIKS - News and analysis about Kosovo Economy in English
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[/FONT][FONT=Arial, Helvetica, sans-serif] Remzi Shahini, the managing director of Korporata Energjetike e Kosoves – KEK (Kosovo Energy Corporation) told the news agency KosovaLive that the Kosovo Government has allocated a total of EUR 117 million for KEK. Out of those, EUR 38 million are donated by the Government while the rest was provided to KEK as a loan for capital investments.
Shahini said that KEK’s aims is to use the loan for highly important projects, such as the opening of new coal mine in Sitnica, the change of rotors in “Kosovo B” power plant, the improvement of water supply for power plants and similar projects.
ECIKS - News and analysis about Kosovo Economy in English
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