Kosovo resumes privatization process

Prishtinë, September 15, 2008 – The Board of Directors of the newly established Kosovo Privatization Agency (AKP) decided last week to continue the privatization of Socially Owned Enterprises (SOEs), after a halt of several months while the competencies were being transferred from the EU and UN to Kosovo authorities.

In an announcement, the AKP says that it has decided to continue with the 31st wave of privatization, initially planned in May by its predecessor, Kosovo Trust Agency.
“In the 31st wave are included ten new companies: nine will be sold through normal spin-off and one through special spin-off.”

The Board of AKP has also approved the organizational structure of the agency as well as the personnel policies.
“AKP will continue its daily work, on the quick functionalization and fulfilling of its obligations required by law,” says the AKP announcement.

Next meeting of the Board of Directors of AKP is scheduled for October.

The privatisation process in Kosovo started in 2002 with the Kosovo Trust Agency being the organisation in charge of this process. Until June 15, 2008 – where according to the constitution of the Republic of Kosovo the privatisation process was handed over to the Kosovo Privatisation Agency – around 300 SOEs were privatised bringing revenues of around EUR 380 million.

Currently, there are still 200 SOEs left to be privatized by the KPA.