Pristina, December 2, 2024
The presentation of the fifth edition of the White Book of the European Investors Council was held today, an event in which the Prime Minister of the Republic of Kosovo, Albin Kurti, also participated.
Initially, in his speech, the Prime Minister stated that this event and this presentation are evidence of the reaffirmation of our joint commitment to improve the economic landscape of Kosovo.
While expressing gratitude to the European Investors Council and its members for their commitment, Prime Minister Kurti assessed that the publication of the White Book 2024 is a valuable document full of analyses and data prepared by the European Investors Council, which also contains recommendations that are important for us as a Government and for all other state institutions.
Kosovo, as a new European state with a young average age, is demonstrating every day that democracy and development can progress in parallel and together with one another. Even international reports from organizations such as the World Justice Project, Transparency International, Freedom House, Gallup, the V-Dem Institute, as well as the World Bank and the International Monetary Fund, are indicators and evidence of progress and the sustainability of progress in our country and the high level of achievements, especially in recent years. This is the reason why our state is under attack, why they want to halt our progress. “But they will not succeed,” said the Prime Minister during his speech.
He also addressed the advancements and developments made in the field of economic development over the past four years, such as the average economic growth, the doubling of exports, the improvement of the export-import ratio, the increase in foreign investments, the rise in employment resulting in a reduction of unemployment, a new minimum wage, direct support for the employment of over 12 thousand women, low public debt being the lowest in Europe, and the increase in capital expenditures.
In my speech during the presentation of our first White Book in December 2021, merely nine months after the commencement of our governmental mandate, I stated that “The economy of Kosovo is not only hungry but also thirsty for investments.” I emphasized this because our country needed to transition towards economic development, and for this, we required an increase in investments, which would directly impact the growth of employment and productivity. It is essential for us to enhance productivity within the growth of the economy. Today, three years later, all economic indicators of Kosovo show that we have achieved this and that we are on the right path. “We have worked diligently and with targeted policies, which have brought a positive impact on the country’s economy and the lives of its citizens,” emphasized the Prime Minister.
Full Speech of Prime Minister Kurti:
Honorable Mr. Genond Mesareja, Chairman of the Board of the European Investors Council,
Honorable Director of the EBRD, Mr. Sergiy Maslichenko,
Honorable Managing Director of the European Investors Council, Mr. Emrush Ujkani,
Honorable members of the European Investors Council,
Honorable attendees,
Ladies and gentleman,
The presentation of the fifth edition of the White Book of the European Investors Council is a reaffirmation of our joint commitment to improving the economic landscape of Kosovo. Therefore, it is a pleasure to gather here together, to engage in discussions with one another, and to advance new and beneficial ideas for the development of the country.
First and foremost, I would like to extend my gratitude to the European Investors Council and its members, including the companies that fulfill this commitment and our journey filled with work, experiences, and life.
The publication of the White Book 2024, also known as the White Book 2024, is not only a valuable document filled with analyses and data, prepared by the European Investors Council, but it also contains recommendations that are important for us as the Government of the Republic and for other state institutions. These recommendations will assist us in the further enhancement of our legislation and policies specifically related to the development of the private sector.
The companies you represent have played a significant role in the further development of the private sector in particular, but also of our Republic in general. We highly appreciate the determination of some of these companies, which are also your members, who have chosen to expand their services to the northern part of the country, with the aim of providing comprehensive and quality services to all citizens of our country, without distinction.
Besides being active as an organization in the National Council for Economy and Investments and in many other activities and mechanisms, I particularly appreciate the role of the European Investors Council for their continuous commitment and advocacy for the Republic of Kosovo.
However, before I proceed further, we cannot overlook these attacks that our country is facing.
Last Friday, a terrorist and criminal attack, which escalated the hybrid warfare towards a kinetic assault, targeted critical infrastructure with the aim of destabilizing our country, compromising the security of citizens, instilling fear in the population, and sowing discord among communities. They attempted to deprive us of drinking water, electricity, and heating in the middle of winter, aiming for a complete collapse of our daily life and security. Russian manual attacks, attacks against the state and its citizens. Despite the fact that someone in Belgrade is concerned about the democratic and sovereign Republic of Kosovo, which is developing and progressing rapidly, they did not achieve their goal through this attack, because our Republic is strong and our institutions are professional and with integrity.
Kosovo is an exemplary success of NATO’s intervention against a brutal regime that was committing genocide in Kosovo. Now, Kosovo, as a new European state with a young average age, is demonstrating every day that democracy and development can progress in parallel and alongside one another. Even international reports from organizations such as the World Justice Project, Transparency International, Freedom House, Gallup, the V-Dem Institute, as well as the World Bank and the International Monetary Fund, are indicators and evidence of progress and the sustainability of progress in our country and the high level of achievements, especially in recent years. This is the reason why our state is under attack, why they want to halt our progress. But they will not succeed.
Honorable attendees,
Among the organizations I mentioned earlier, the World Justice Project has assessed that Kosovo has achieved the greatest progress in the rule of law in the region. And this is in the best interest of both foreign and local investors. The state does not interfere in your businesses. The government assists you by ensuring the rule of law and equality before the law.
We know that the last three years have been challenging globally. Peace and security have been taken for granted for a very long time in Europe, especially in Western Europe, but we in Kosovo know that they are not guaranteed.
However, we are fortunate and grateful that amidst these challenges, the European Union has offered us an unprecedented opportunity to accelerate our integration. We demonstrate our readiness for membership in the European Union every day, and the European Union must now show its readiness to acknowledge our progress in a merit-based process.
We have made progress in expanding access to financing for small and medium-sized enterprises and have received our first credit rating. Kosovo has been a pioneer in the inclusion of services in the EFTA agreement and will now be fully represented in CEFTA, promoting trade and cooperation over political clashes.
During the past three years of governance, we have achieved an average economic growth of 6.36%. This process, which is also reflected in the doubling of exports and the improvement of the export-import ratio from 1:9 to 1:6, and by increasing foreign investments to an average of 664.3 million euros for the years 2021-2023, which is more than double the average of the period 2007-2020, is undoubtedly a process of progress and as such should be preserved, protected, and further advanced.
The number of active job positions in Kosovo has reached 430 thousand marking an increase of nearly 23% since 2021, while unemployment has decreased from 25.8% to 10.7%. We have directly supported the employment of over 12 thousand women and have established a new minimum wage of 350 euros.
The public debt of our country is the lowest in Europe, only 17%, and the capital expenditures in the past year amounted to 561 million euros, with an increase of 23% during the first nine months of 2024.
In my speech during the presentation of our first White Book in December 2021, merely nine months after the commencement of our governmental mandate, I stated that “The economy of Kosovo is not only hungry but also thirsty for investments.” I emphasized this because our country needed to transition towards economic development, and for this, we required an increase in investments, which would directly impact the growth of employment and productivity. It is essential for us to enhance productivity within the growth of the economy. Today, three years later, all economic indicators of Kosovo show that we have achieved this and that we are on the right path. We have worked diligently and with targeted policies that have brought a positive impact on the country’s economy and the lives of its citizens.
The trajectory is the right one, our policies are aiming for and achieving sustainable development and genuine improvement in the lives of the citizens of Kosovo.
We must continue to walk together on this journey that is full of challenges, but is righteous. I thank you for your trust and ongoing partnership as we build together and alongside each other the path towards a prosperous and flourishing future for Kosovo.
With the Government of the Republic of Kosovo, investors find a partner, not merely a market in Kosovo. For this, I pledge as the Prime Minister of the Republic of Kosovo.
Thank you.
Last modified: December 10, 2024