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Kosovo: 15 Companies Put Up for Sale

Prishtinė, Nov 30, 2005 - Kosovo's sunflower oil producer, a brick maker, a pipe factory and two hotels were among 15 state firms put up for sale Wednesday in hopes of boosting the economy in the disputed province.

The Kosovo Trust Agency launched the 11th round of privatization in an effort to sell the companies, which were once owned by their workers and managers under a system set up during communist-era Yugoslavia.

The privatization agency, which has advertised the companies on its Web site, is hoping 16 new firms will be created when the sales are completed.

Privatization is among the most sensitive issues in Kosovo, which was placed under U.N. administration in 1999 following NATO air strikes that ended a Serb crackdown on independence-seeking ethnic Albanians.

The process of privatization in Kosovo is complex in part because it is unclear whether Kosovo will become independent or remain part of Serbia-Montenegro, the successor state of Yugoslavia. Serbia's authorities have fiercely opposed the privatizations.

The Kosovo Trust Agency, the U.N. entity responsible for privatizing the enterprises and putting them on solid legal footing, wants private entrepreneurs to assume the risk of modernizing the industries.

The companies are considered inefficient and dilapidated after years of neglect.

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Background information for foreign investors

Kosovo: General Information
Kosovo: Key economic indicators
Why do business in Kosovo?
Legal Framework in Kosovo
KTA and Privatisation in Kosovo

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