Jun 17 2012 |
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Kosovo courts Saudi investments
By Roberta Fedele JEDDAH - Kosovo Prime Minister Hashim Thaci urges Saudis to invest in his country, saying that Kosovo's economic and political stability can guarantee secure investments."Kosovo has clear laws that protect international investors who can also benefit from the country's lower taxation on profits of only 10 percent versus the 40 percent European average," Thaci said Saturday in a meeting at the Jeddah Chamber of Commerce and Industry ( JCCI ) to discuss ways of enhancing business opportunities between Kosovo and Saudi Arabia.
He is in the Kingdom for an official visit. JCCI Secretary General Adnan Mandourah welcomed Thaci and his accompanying delegation, including Deputy Prime Minister of Kosovo Behgjet Pacolli and Ambassador of Kosovo to Saudi Arabia Rexhep Boja.
Mandourah explained the JCCI 's role in promoting investments and joint ventures between Saudi and foreign companies and highlighted Saudi Arabia's openness to international companies willing to invest especially in infrastructures.
"Kosovo represents at the moment a great hub for investments in infrastructure, transportation, communication, education, industry, agriculture etc. The country's economy got distraught by the war but Kosovians are working hard since 2000 on rebuilding it. Infrastructures suffered the more severe consequences from the war and advantageous opportunities are available in this sector and in the field of transportation. Kosovo's fertile land also make the country an interesting destination for investors in the field of agriculture," Thaci pointed out.
Kosovo, which is officially recognized by the European Union as an independent state, and whose currency is the euro, has 8 insurance companies, 8 internationally renowned banks, 2 local banks and a central bank established by the government immediately after the war.
"Kosovo also enjoys excellent relations with the Islamic Development Bank," he added.
Moreover, Thaci said Kosovo could be a good exporter of services and labor.
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