Kosovo Welcomes Malaysian Investors

KUALA LUMPUR, Jan 26 (Bernama)-- Kosovo, a landlocked state in the central Balkan Peninsula, which is opening up its trade and investment opportunities, offers immense potentials for Malaysian investors. As it is in the development phase, Kosovo welcomes investments in the infrastructure, property, financial and information technology sectors, National Chamber of Commerce and Industry of Malaysia President Ter Leong Yap said. Kosovo declared independence from Serbia in 2008. Its capital and largest city, Pristina was famous for trade fairs and items such as goatskin and goat hair and gunpowder produced by artisans in 1485. "As the country is currently undergoing a development phase, Kosovo highly welcomes foreign investments," Ter told a joint press conference with Kosovo Foreign Minister Enver Hoxhaj, who is in the capital for a one-day official visit. Ter said although the country's population is only 1.8 million, investors could capitalise on it as a gateway to the European region. Kosovo borders Albania to the west, Montenegro to the north west, Macedonia to the south, and Serbia (from its perspective) to the north east. Ter said various incentives were lined up for investors, including corporate tax which was as low as seven per cent. He said Malaysia's construction industry was very matured, while its construction technology was very advanced, prompting Kosovo to invite Malaysian investors. Ter said the Kosovo foreign minister has proposed to the Malaysian chambers of commerce to hold a trade and investment forum here, focusing on business opportunities in various fields in both countries. "We have identified the dates (for the forum), probably in the second half of this year. I'm sure their (Kosovo) officials will then introduce us to more trade opportunities," he said. He said the NCCIM would get its members to participate in the forum to enable them to learn more about investment and trade opportunities in Kosovo, as well as conduct business matching sessions with Kosovo business leaders. Ter cited the mining, energy and services as other sectors that Malaysian companies could venture into in Kosovo. Meanwhile, Malaysian International Chamber of Commerce and Industry President Jalilah Baba said Kosovo could be an entry point for Malaysian investors to reach other European countries. "The country is still new, so there are ample opportunities for foreign direct investments (FDIs) to come in and they (Kosovo) are very attractive and open to FDIs. "We have been encouraging Malaysian companies to explore opportunities in other parts of the world and this is a very good opportunity for them to explore," she said. --BERNAMA