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Kosovo Trust Agency: 5,000 investors identified so far


Prishtinë, Oct 30, 2006 – The Kosovo Trust Agency (KTA) Deputy Managing Director, Ahmet Shala, said at a press conference in Prishtina that since the beginning of the privatisation process, the KTA has identified around 5,000 investors, from which 1,700 have been pre qualified. He also said that 250 SOEs have been privatised, from which 400 new enterprises have been created and €250 million have been collected from the privatisation process.

In terms of the 20% for the workers, Shala said that KTA until now has given to these employees € 7.5 million, of a total sum of €50 million, adding that these difficulties are related to the 2003/13 Regulation.

“The figures confirm that until September 2006, we have allocated some €7.5 million from the 20% workers share and that 27 SOEs have received the 20%. The published lists of 15 other enterprises are being preparing and concerning another 11 enterprises, our Regional Office, Liquidation Office and Labour Unions are jointly preparing the data for allocating these funds,” said Shala.

“We are not entirely satisfied with the speed of allocating of the money. However, we are attempting to reformulate Regulation 2003/13, Article 10 in cooperation with important parties, including the Special Chamber and Labour Union.”

In regard to the privatisation of Brezovica, Shala said: “There was no moratorium taken by KTA. Instead, there was a consideration of the suggestions from relevant international institutions (including New York) that because of the sensitivity of this region and the nature of the SOE and its location, there should be a reconsideration of the time when privatisation should take place.

“The local institutions of Shterpce municipality did not show support to the privatisation at this moment in time. They have publicly stated that they are for the privatisation, but not at this moment, and therefore the relevant international institutions, including New York, consider that this should be taken into consideration, i.e. postpone the privatisation of Brezovica to a more appropriate time.”

Commenting on the complaints that KTA receives, Shala said that KTA receives many complaints, which then are reviewed by liquidation committee. As for the privatisation of Grand Hotel, the Special Chamber concluded that the decision of the KTA Board was in conformity with laws and Regulations in place, and the Chamber recognized our decision. “I think that this is a confirmation that KTA is respecting all Regulations and procedures,” said Shala.

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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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