On April 21, 2022, an Economic Forum was held between the Republic of Kosovo and the Republic of Austria on the topic “Economic climate and investment in Kosovo”, in order to further intensify cooperation to expand and diversify bilateral trade and increase investment.
In his speech, Prime Minister Kurti expressed gratitude on behalf of the Republic of Kosovo, for the support provided by the Republic of Austria in many areas, as one of our main economic partners in trade, foreign direct investment and politics. At the same time, he expressed his satisfaction that under the organization of the Ministry of Industry, Entrepreneurship and Trade in cooperation with the Austrian Federal Chamber of Commerce, many Austrian and Kosovar businesses from different sectors will meet in B2B meetings, establish new contacts and will share their best experiences and expertise, with a particular focus on creating a possible joint collaboration.
The Minister of Industry, Entrepreneurship and Trade, Rozeta Hajdari, in her speech focused on the competitive advantages of 'near shoring' for investments in Kosovo, said that Kurti Government with the principles of good governance, with new policies and legislation for investment support, with 'near shoring' competitive advantages and close cooperation, has increased the confidence to invest in the Republic of Kosovo.
"To create a better and safer environment for attracting foreign investment, we have launched a serious structural reform. Some to mention are: justice reforms with good legislation, in line with EU standards, reforms in public administration and reforms to improve the business environment and develop competition in the private sector”, said Minister Hajdari.
Emphasizing the competitive advantages for investments, Minister Hajdari said that Kosovo is a place for 'near shoring' that gives Austrian companies flexibility, during their operation in the same time zone, but with lower operational costs. Among other competitive advantages for investments in Kosovo, Minister Hajdari mentioned the developed road and digital infrastructure and proximity to the port of Durres, as opportunities for increasing trade and investment opportunities, creative youth, multilingual and with good digital skills, low taxes and Euro currency, as an advantage to reduce transaction costs and exchange rate risks.
While the video message from the Austrian Federal Minister for Digital and Economic Affairs, Margarete Schramböck, stressed that Kosovo is of great importance for Austria and that it is time for the two countries to come together and work together economically and politically for the future of both states. She praised the Economic Forum Kosovo-Austria as an opportunity that always represents the basis for new moments, in joint work on the political and economic side, adding the special importance in cooperation on digitalization issues and the need to establish the right frameworks, in order for the new generations to live in a better environment than the one we live in today.
Within the economic forum, discussion panels and presentations were held by the Vienna Institute for Economic Studies, the Kosovo Chamber of Commerce and the Austrian Chamber of Commerce, the Kosovo Investment and Enterprise Promotion Agency (KIESA), Raiffeisen Bank, ADA, ITP Prizren and ICK, while the participants in the audience had the opportunity to ask questions, remarks and suggestions regarding doing business in Kosovo.
