3 minutes agoKosovo for two years loses two strategic investors
Periskopi(3 years ago)
(3 years ago)Over 150m euros of planned investments in two projects of international investors in Kosovo, over the past two years, failed to live. According to economic experts, this is a loss to the country's economy. It's the “Chivica WindFarm” project for wind power production, the French company “AkuoEnergy”, and the company's [...]
According to economic experts, this is a loss to the country's economy.
It's the “Chivica WindFarm” project for wind power production, the French company “AkuoEnergy”, and that of the British company “Moxico Luma Kosova Mining” for exploration and verification of mineral resources, REL reports.
The first -- worth over 100m euros, planned by 2021 -- has not begun to be realised due to failure to complete procedures for granting the status of the strategic investor.
Under the Law for Strategic Investment in Kosovo, strategic investor status is granted to the one contributing to economic growth, employment and implementation of new technologies, or to increased prosperity and living conditions of Kosovo citizens.
The volume of investments to gain this status must range from 10m to 30m euros depending on the sector.
For the second mentioned project, the Government of Kosovo, this week, has abolished a decision on December 13th, 2022, with which the Government's “will to proceed with the decision on granting strategic investment status to the company Moxico Luma Kosova Mining<1>.
The Kosovo government told Free Europe Radio that the move is based on the Law for Strategic Investment, which reportedly enables the executive to take revote measures to grant the status of the strategic project.
The decision, according to the Government, has been made referring to Article 14, the first point of the Law for Strategic Investment.
This article says:
If, along with the preparation and implementation of the strategic investment project, the [appreciating] Commission receives new evidence on which it finds and confirms that in the investment project, there is false data or change of data, on which it would not have been set for granting strategic investment status, the government revotes the decision to grant the status of the strategic investor”.
Other explanations were not given.
The British company's investment capital has been the first to stand at over 45m euros. The project, too, has envisioned the employment of 300 workers.
