Pristina _ Foreign companies have invested about 855 million euros in Kosovo in the past five years, an amount that falls short of the territory’s needs as talks continue over potential independence from Serbia, a government official said Wednesday.
Many of the investments came in small amounts by more than 1800 foreign companies, Ejup Fejza, director of the Agency for Promotion of Investments in Kosovo’s trade ministry, told Balkan Insight.
Fejza said the amount invested is not enough and added that Kosovo’s unresolved political status is seen as the key obstacle impeding foreign investors.
Kosovo has been under UN protection and administration since 1999. Kosovo Trust Agency, KTA, a body of the UN mission in Kosovo, was set up in 2002 and started the privatisation of socially owned enterprises in 2003.
More than 330 million euros came to the Kosovo government as a result of privatisation of socially owned enterprises such as the Grand Hotel Pristina and nickel processor Ferronikeli, the agency reported.
About 223 million euros in other direct investments came into Kosovo during the period, along with about 300 million in indirect investments, Fejza said after the agency made public its six-month activity report on Tuesday.
The agency collected the data itself. Municipal divisions, the central banking authority and tax administrators in Kosovo lack the mechanisms to provide the agency with information on investments.
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