London, 26 February 2024
During his stay in London, the Prime Minister of the Republic of Kosovo, Albin Kurti, is participating in the Investment Summit in the Western Balkans 2024, organized by the European Bank for Reconstruction and Development (EBRD). The summit started with a panel discussion between the 6 heads of state of the Western Balkan countries, within which a question-answer session was held, where investment opportunities in the region and forms for the development and progress of the Western Balkans were discussed. The President of EBRD, Odile Renaud-Basso, was also present at the panel.
In the first question, on “Why should foreign investors come and invest in your country?”, Prime Minister Kurti said that in the last 3 years Kosovo has seen democratic progress, economic development and institutional stability, which helped us and successfully combat security threats and address social inequality and climate change.
He added that “Kosovo leads the Western Balkans in real economic growth forecasts for the years 2023 to 2025. In the last 3 years the average economic growth was 6.2% of GDP and we have made significant improvements in the rule of law and advancements in political rights, civil liberties and electoral democracy. This positions Kosovo favorably on the global stage for investment, and we are located in the heart of the EMENA region.”
As a country with a young and multilingual workforce, the average age of the young population in Kosovo, 31 years old, and an open market economy, it not only underlines Kosovo’s commitment to a business-friendly environment, but also demonstrates competitive market costs of work.
“We are in the best position for investments in the technology sector. In the 2023 IT Competitiveness Index for Europe’s developing regions, out of 23 European countries, Kosovo ranks 11th, leaving behind all candidate countries for EU membership and one EU member state. In these 3 years, we have doubled both exports and foreign direct investments. We need more investments, but Kosovo is very suitable for foreign investments because this is already happening. So we need more of the same, and our government is focused on the rule of law, the fight against corruption, fully in line with the US, the EU and the UK, geopolitically and the approach of based on values also in terms of doing business, especially after the Russian aggression in Ukraine who recently turned two years old.” said Prime Minister Kurti.
The Prime Minister also mentioned that within the country, an additional element that is being worked on is the connection of the labor market with professional education, as well as our diaspora, which brings not only remittances, but also investments, and their ethics and knowledge of work.
In the second question on priorities in cross-border regional projects, the Prime Minister emphasized the need for investments in infrastructure but also in the field of energy and education. On energy, he mentioned the first auction for the solar park with a capacity of 100 MW. He further spoke about the regional and connection projects with neighboring countries such as with Albania the Pristina-Durres railway, accompanied by the development of a dry port, with North Macedonia the Prizren-Tetova road, with Montenegro, the construction of new roads for the connection of Kosovo with Montenegro such as Peja and Deçani with Rozhaja, Plava, Andrijevica, all of this with the aim of facilitating cross-border crossings and strengthening relations between us. The Prime Minister also thanked the EBRD for the close cooperation and continuous support in the public and private sphere.
In response to questions from the audience, the Prime Minister added that Kosovo had the lowest budget deficit in the region, the reduction of public debt, prudence in finances, excellent relations with the IMF and the World Bank, the increase in tax revenues without changing the policy fiscal stability, increased exports and foreign direct investment, financial stability, investments in four important sectors such as agriculture, defense and security, health and education, underlined our excellent relations with the European Central Bank, the EU as a major trading partner and the goal of deepening this cooperation, as well as mentioned the construction of the legislative framework for investment funds together with USAID and the Sovereign Fund.
Last modified: February 27, 2024