Prishtina, October 4, 2022
The Prime Minister of the Republic of Kosovo, Albin Kurti, participated today in the inauguration of the ‘’Royal Paper Cups’’paper factory, in the village Besi in the Municipality of Prishtina.
He said that we are marking the beginning of a new manufacturing enterprise, of a new investment. “Exactly what our economy needs. Production, investment. Investment in production”, said the Prime Minister in front of those present at this ceremony.
Remembering the time of the pandemic with COVID-19 and the challenges of facing it, he also recalled the instructions of professionals that, in addition to maintaining distance, hygiene, and masks, it was also recommended that instead of glass and porcelain glasses, to use disposable paper cups.
“Today we are inaugurating the opening of a factory for the production of paper cups. The investment value exceeds one million euros with the aim of increasing production potential in the future. Among other things, the pandemic revealed to us a serious defect in our economy; the dependence on imports, and the lack of local production, but just like the entrepreneurs who see the opportunity in difficulties, the governments also need to see opportunities for reforms in crises like the pandemic’’, Prime Minister Kurti said further.
He emphasized that since then the focus of the Government is the reorientation of the economy in the direction of local production, while he also listed the support measures for businesses within the Economic Recovery Package.
The Prime Minister congratulated the owners of this factory for this investment, and called the others to invest in production.
After the speech, the Prime Minister took part in the ribbon cutting and visited the premises of the factory where paper and paper cups are produced for the domestic and foreign markets.
Prime Minister Kurti’s full speech:
Dear Mr. Abdyl Zhdrella and Mr. Fadil Halili,
Dear members of the Assembly of the Republic,
Dear attendees, ladies and gentlemen,
Sisters and brothers,
It was my pleasure to receive the invitation to be with you here today. My daily agenda is usually filled with numerous meetings that usually take place within the walls of an institution or an organization. Today, in addition to not being in the office, we are also marking the beginning of a new manufacturing enterprise, of a new investment. Exactly what our economy needs. Production, investment. Investment in production.
The origin of the establishment of Royal Paper Cups is the most typical example of the entrepreneurial spirit, of the spirit that sees the opportunity in difficulties. As they informed me, the idea was born during the pandemic. I believe you remember that period when, in addition to the instructions for distance, hygiene, and masks, it was also recommended that instead of glass, plastic, and porcelain cups, we should have disposable paper cups. And today we are inaugurating the opening of a factory for the production of paper cups. The investment value exceeds one million euros with the aim of increasing production potential in the future.
The pandemic, among other things, revealed to us a serious defect in our economy; dependence on the import and lack of local production. But just like entrepreneurs who see the opportunity in difficulties, governments also need to see opportunities for reforms in crises, such as the pandemic. Therefore, since then our focus as a government has been and is the reorientation of the economy in the direction of local production.
In the framework of the Economic Recovery Package, besides the citizens we have supported businesses as well. So far, we have subsidized investment loans for 357 manufacturing businesses, in order to expand their production capacities.
We have supported 43 businesses that are owned by women, covering 20 percent of the loan principal for capacity building.
107 businesses have benefited from liquidity support through the subsidy of 10 percent of the loan principal.
Through measure 2.4 of our package, we have supported 75 manufacturing and exporting businesses in increasing of quality, raising and increasing of managerial staff, representation at fairs abroad and branding and marketing of products.
The support of the Kosovo Credit Guarantee Fund has also played an important role in enabling the guarantee of 120 million euros of additional credit for businesses in facing the effects of the pandemic.
Meanwhile, we are continuing to subsidize electricity for businesses.
Above all, with a good, fair and developmental governance, we are offering a suitable climate for doing business. Last year we recorded economic growth of 10.7 percent of the gross domestic product and in the first quarter of this year 4.9 percent of the gross domestic product, after deducting inflation. And this is more than in any other year in the history of our state and in the region. The World Bank predicts that the Republic of Kosovo will have the fastest economic growth in the Western Balkans during the period 2022-2024. Last year, exports were 83.6 percent higher than compared to the previous year, and this year they are also 29.5 percent higher than in 2021. This year, for the first time, the export value is expected to exceed the figure of 1 billion euros. Budget revenues are 1/3 higher than last year, while foreign direct investments have increased by 22 percent.
All these are evidence that Royal Paper Cups is starting its journey in times of opportunities. Therefore, I congratulate you and wish you much success in the future.
Let the congratulations for you be an invitation and a call for others to invest in production, to cover the local market, to increase exports, to expand the company, and to increase employment.
Cheers and thank you!
Last modified: October 5, 2022