Prishtina, 29 May, 2024
The first Deputy Prime Minister for European Integration, Development and Dialogue of the Republic of Kosovo, Besnik Bislimi, accompanied by the Minister of Agriculture, Forestry and Rural Development, Faton Peci, participated today in the official opening of the General International Fair “Prishtina 2024”, which takes place during May 29-31, under the organization of the Chamber of Commerce of Kosovo.
In his introductory speech, Deputy Prime Minister Bislimi showed that fairs like this one help in the promotion and networking of local businesses, offer opportunities to expand the market, attract new investors, and at the same time serve as a platform for the presentation of innovations in production, and the exchange of knowledge.
Emphasizing the support for 250 businesses in promoting their products and services at 41 international fairs, he added that “Kosovo is still a new country, but with a very large potential for growth. Our commitment and work as the Government is directed around the maximum utilization of this potential, whose vision is a stable and developed economy”.
Further, he mentioned some of the successes and achievements during the last three years in the field of economy, such as the average economic growth of 6.2%, the doubling of foreign direct investments, the increase in the number of jobs by 20%, especially the doubling of employment of young people, as well as the employment of over 12 thousand women, 550 million euros executed in capital expenditures reaching the highest level in the country’s history, the 58% increase in business turnover in 2023 compared to 2019, reaching a total of 20 billion euros as well as subsidizing about 500 businesses, of which 450 businesses have been subsidized investment loans in the amount of 12 million euros, while 1,000 businesses have been guaranteed loans in the total value of 67 million euros.
“To every business that has decided to be part of this fair, I wish three productive days and the translation of this participation in more production, more employment and more profit.” concluded the deputy prime minister.
In addition to local companies and businesses, companies from Finland, Luxembourg, Germany, Austria, the Czech Republic, and Saudi Arabia also participated in this event.
The complete speech of Deputy Prime Minister Bislimi:
Dear Minister Peci,
Honorable Chairman of the Chamber of Commerce of Kosovo, Mr. Rafuna,
Dear Dr. Almufarreh,
Dear representatives of the embassies present here,
Dear representatives of USAID,
Dear business representatives who have decided to present their products in the next 2-3 days at the “Prishtina 2024” fair, both from Kosovo and from Finland, Luxembourg, Germany, Austria, the Czech Republic, Saudi Arabia, and others. ,
Ladies and gentleman,
Fairs like this help promote and network local businesses, offer opportunities for market expansion, and attract new investors, serving simultaneously as a platform for the presentation of innovations in production, but also for the exchange of knowledge. Also, events like this boost exports and diversify our economy, attract tourists and generate income for local businesses, thus contributing to a stronger and more dynamic economy in Kosovo.
I am glad to see such a large participation of companies from different sectors, as well as the participation of companies coming from foreign partner countries. I believe there is room and I will be very happy to see an increase in this participation in the future. For us, it is very important that the businesses of our country, whether they are locally owned businesses or foreign investments, and our products, have the strongest possible positioning in the market, which is why we have so far supported over 250 businesses in the promotion of their products and services in 41 international fairs, thus increasing their visibility and competitiveness outside Kosovo.
Kosovo is still a young country, but with a great potential for growth. Our dedication and work as the Government is directed around the maximum utilization of this potential, whose vision is a stable and developed economy.
World Bank data show that in the last three years Kosovo has achieved an average economic growth of 6.2% – this is an indicator of the potential and energy of our country. We have doubled exports and significantly improved their ratio with imports, which shows that our products and services are increasingly in demand in international markets.
Foreign Direct Investments have doubled in this period, thus increasing the number of jobs by 20% since 2021. What makes us especially proud is the increase or doubling of the number of employed among young people. Meanwhile, on the other hand, the employment of more than 12,000 women has been directly supported, thus contributing to strengthening the role of women both in society and in the economy.
Last year, capital expenditures reached the highest level in our history, with 550 million euros executed. These investments are essential for developing infrastructure and improving the quality of life for all of us.
Business turnover during 2023 is 58% higher than in 2019, reaching a total of 20 billion euros – a clear indication of the vitality and dynamism of our private sector. This also comes as a result of the continuous support we have offered to businesses through various initiatives during the period. Only within the framework of the objective of increasing and expanding the capacities of our businesses in international markets, about 500 businesses have been subsidized, while 450 businesses have been subsidized investment loans in the amount of 12 million euros; meanwhile, 1,000 businesses were guaranteed loans in the total value of 67 million euros.
Currently, with the European Commission, we are on the verge of finalizing the Growth Plan, which could bring Kosovo a total of 947 million euros as a result of the successful implementation of the reforms we are agreeing on, where, among other things, also facilitating investments in the private sector, improving the mechanisms for attracting Foreign Direct Investments in strategic sectors; improving the business climate, facilitating dialogue between the Government and the private sector; support for the creation and expansion of initial businesses (or start-ups) and Small and Medium Enterprises specialized in Information and Communication Technology and the green and circular economy, as well as the acquisition of green technologies through the Innovation Fund and incubators business.
At the same time, we are working to be included in the common market with the European Union within the framework of this plan, with some initial concrete initiatives, such as the Single Euro Payments Area or SEPA, which will significantly reduce the cost of transfers banking for our businesses, the alliance with the European Union for critical medications, which is expected to be defined in the following months, the digital wallet or portfolio of the European Union where Kosovo has already made the initial plan, then also compliance with the standards of the European Union for products that are produced in Kosovo, which would greatly facilitate the export of these products to the European Union.
At the same time, we are planning ambitious infrastructure projects which in total exceed the value of 7 billion euros, including renewable energy, projects in transport, environment and energy. Planning for the digitization sector and human capital is also expected to be done. In the framework of the development and preservation of human capital, we are aligning the education system with the needs of the labor market, through close cooperation with the business community and through the revision of our legal framework for the Formation of Professional Education.
At the very end, I wish each business that has decided to be part of this fair three productive days and the translation of this participation into more production, more employment and more profit.
Thank you very much!
Last modified: May 30, 2024