29 minutes agoGovernment Revotes Status of Strategic Investors, Uninformed Company
Periskopi(3 years ago)
(3 years ago)Representatives of the company, Moxico Luma Kosova Mining, told Free Europe Radio that they have no official information from the Government of Kosovo concerning the abolition of the decision on granting strategic investor status to this company. “We remain in hope that communication with Government will continue in order to implement our investment [...]
“We remain in hope that communication with Government will continue in order to implement our investment in Kosovo”, the Free Europe Radio from this company reported in a written response.
On April 18th, the Government of Kosovo through a communique for the media, announced it has abolished the decision on December 13th 2022, with which the Government's will to prosecute the Parliament's decision to grant strategic investor status to the company, Moxico Luma Kosova Mining, was confirmed.
In the Government of Kosovo, Free Europe has told Radio that the move is based on the Law for Strategic Investment, which they say enables the executive to take revote measures to grant the status of the strategic project. This, according to the Government, can be done along the preparation or even implementation of the investment project.
The decision, according to the Government, has been made referring to Article 14 of the Law for Strategic Investment.
Article 14 of this law says:
If, along with the preparation and implementation of the strategic investment project, the Commission receives new evidence on which it finds and confirms that the investment project has false data or change of data, on which it would not have been set to grant strategic investment status, the Government revotes the decision to grant strategic investment status”.
The law for strategic investments has entered into force in February 2017. Under this law, the volume of investment to gain strategic investment status is from 10m to 30m euros, depending on the sector.
The priorities in selecting projects to gain strategic investment status, according to this law, are given to projects with greater volume of investment and which generate more jobs.
The Moxico River company's project Kosova Mining included exploring and verifying mineral resources.
The strategic investment capital was over 45m euros, while the investment would be realised in the villages of Gumnishh, Vlachhi and Karaks of municipalities in Mitrovica and Vushtrri.
300 workers were initially employed in the project.
Foreign investments in Kosovo according to Kosovo Central Bank data in the January period October 2002 totaled over 600m euros.
