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Kosovo to review the privatisation of some enterprises


Prishtina, 9 March 2007 - The Board of Directors of Kosovo Trust Agency (KTA) has decided to review all enterprises that have undergone privatization through a special spin off and verify whether they have fulfilled the contract obligations.

“The assessments were positive apart from 2-3 cases. In cases of failure to fulfil obligations, there is the possibility that the enterprises will be privatised again,” stated Minister of Trade and Industry Bujar Dugolli.

Kosovar media reports that a Tobacco company in Gjilan and the company KosovaTex have apparently not fulfilled the obligations. Some sources indicated that Llamkos should also report on this matter.

The KTA has the right to annul the privatisation of the two enterprises in case no report is submitted regarding the required investment and employment by the end of next month. If it does come to this annulment, the Tobacco company risks loosing € 1.4 million. KosovaTex is risking not less than € 3.1 million.

The issue of concession for Pristina International Airport has also been topic of discussion. “A Steering Committee will be established as has been the case with the new power plant and the same methods will be used. However, the government will bear the main responsibility until concession takes place,” stated Minister Dugolli.

The KTA Board has reportedly approved the 24th privatization wave, in which over 30 Socially Owned Enterprises will be tendered. Furthermore, green light was given to the corporation process of the water companies.

KTA has concluded the privatization of veterinary stations, agricultural lands, trade centers and warehouses included in the 22nd privatisation wave, which accumulated some € 8,7 million.

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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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