17 minutes agoWhat is the Kosovo Sovereign Fund, which is launched today?
Periskopi(3 years ago)
(3 years ago)The Sovereign Fund is expected to carry Kosovo's most important public wealth. This has started to be regulated through a draft law on the Sovereign Fund, which was published on March 13th and until April 2nd has been in public consultation. After consultations, it is pre-ordained to proceed for approval in Government and then on [...]
The Sovereign Fund is expected to carry Kosovo's most important public wealth.
This has started to be regulated through a draft law on the Sovereign Fund, which was published on March 13th and until April 2nd has been in public consultation. After the consultations, it is envisioned to proceed for approval in Government and later in the Kosovo Assembly. But so far there's no information about what happened to him.
The bill defines the Sovereign Fund as Kosovo's investment and development institution. The founding capital of the Sovereign Fund, reportedly in the bill, is 20m euros and covered by the Government of Kosovo.
Through the administration of Kosovo companies and assets, the Sovereign Fund targets the country's “development and the welfare of citizens”.
The draft law says the Sovereign Fund will manage with Kosovo's important assets by increasing value, performance and return to investments to be made.
In this wealth, which will manage the Sovereign Fund, public state companies, social companies and assets, which are currently managed by the Kosovar Privatisation Agency (AKP), enter.
But this law does not apply to direct-owned public enterprises of the Republic of Kosovo or municipalities.
According to estimates by the Bill's working group for the Sovereign Fund, some of the public companies, which have been identified as carrying the Sovereign Fund, are:
Kosovo Energy Corporation, Kosovo Telecom, Kosovo Post, metallural Nation “Trepca”, Trainkos-infrakos.
The Sovereign Fund will be carried by the Kosovo Privatisation Agency, even several social and asset companies.
According to the AKP, with high economic potential there are 94 assets and about 48 thousand hectares of land that can be transported to the Sovereign Fund.
Ninety-four assets include: Mines, administrative and local buildings, factories, hotels, farms, various warehouses, gas stations, rehabilitation centres, offices, agricultural land of all categories and others.
The Sovereign Fund, according to the draft law, also has in place the establishment of new companies as well as it can invest in financial markets and capital markets within and outside the country.
