Message from the Ambassador
Dear Visitor – Thank you for taking the time to utilize the business page of our Embassy website and learn more about business opportunities in Kosovo. During its five years of independence, Kosovo has made substantial progress in establishing and developing free market policies and legislation, and improving its business climate. Kosovo is a member of the International Monetary Fund, the World Bank, the European Bank for Reconstruction and Development, and is scheduled to sign a framework agreement with the European Investment Bank this year. Kosovo enjoys free trade with all of its neighbors and is a member of the Central European Free Trade Agreement (CEFTA). Kosovo maintains Preferential Trade Status with the EU and has Generalized System of Preferences (GSP) privileges with the United States, with an emphasis on light manufacturing, minerals, building materials, and certain agricultural products.
As a developing country, Kosovo offers a range of ground-floor investment opportunities in the mining, energy, and agricultural sectors. Kosovo possesses the fifth largest lignite reserves in the world and has an abundance of non-energy minerals and natural resources that can serve as a potential area for investment. Infrastructure, healthcare, and telecommunications also represent investment possibilities. Kosovo’s population, the youngest in Europe, is Western-oriented, with many speaking English and having lived, worked, or studied abroad.
In recent years, Kosovo has endeavored to improve its business climate: It has established a 10% flat corporate and personal income tax rate, removed several redundant permits and licenses, and undertaken measures to increase the ease of doing business. These reforms have helped Kosovo become one of the most improved economies in the World Bank’s Doing Business Index Report for 2013, jumping 19 spots in one year. The government established the National Council for Economic Development (NCED), chaired by the Minister of Trade and Industry, in which many ministries and the local chambers of commerce participate.
The government is focused on modernizing its infrastructure: The current construction by U.S.-Turkish consortium Bechtel-Enka of the Route 7 Highway to Albania is proceeding apace, and makes it possible to travel from the capital Pristina to the Adriatic coast in less than four hours. The planned construction of the Route 6 Highway to Macedonia will similarly facilitate trade, commerce, travel, and tourism. The government is also working to privatize a range of publicly owned assets: It has concessioned Pristina International Airport, is finalizing the privatization of its energy distribution network, and just recently approved the private sale of a majority of shares in the public telecommunications operator, PTK. In the coming months, the government will launch a tender for a new coal-fired power plant and seek foreign investors to develop a new ski center and year-round recreation facility in Brezovica.
With a good legal framework, competitive wages, strong U.S. brand loyalty, and an effort to attract Foreign Direct Investment, now is the time for the private sector, especially foreign investors, to take advantage of the many opportunities Kosovo has to offer.
We look forward to hearing from you and supporting your business plans.
Embassy Phone: +381 38 5959 3000
Embassy Fax: +381 38 549 890
Senior Economic Officer
Tel: +381 38 5959 3243
Tel: +381 38 5959 3337
Tel: +381 38 5959 3209
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