USAID: Kosovo, the safest place in the region to invest in

Prishtinë, Oct 8, 2005 – Whatever the final status is going to be, Kosovo is able to survive economically, Head of the USAID mission in Kosovo, Ken Yamashita, said.

He made this assessment based on the natural and human resources of Kosovo.

However, Yamashita emphasizes that it is very important that these resources be governed properly.

“Kosovo has good natural resources, which offer possibilities for development, especially in the industry sector,” said Yamashita. “Moreover, Kosovo has a qualified workforce. But they need to be properly governed in order to move forward.”

According to Yamashita, it is important for Kosovo to understand that cooperation with the countries of the region would contribute to improving the economic development.

USAID estimates Kosovo’s economic environment as convenient

Various reports published lately in Kosovo made a different estimation on the economic development. While some reports indicate that Kosovo’s economy is in a crisis, the recent report of USAID shows Kosovo as a potential place to invest in.

The report that is based on the World Bank’s methodology on Kosovo indicates that Kosovo has proven to have a friendly environment for business development compared to the FYR states, even compared to other countries in South Eastern Europe.

Before the report was published, USAID representative for business support, Rick O’Sullivan, had stated, “We are satisfied that the private sector takes initiatives. In the report that will be published soon, Kosovo will be ranked as the safest place in the region to invest in.”

However, the report indicates that still there is a lot to be done for business development in Kosovo and that there are challenges in the financial development and the capital market.