Horizon - December 2020 by AmCham Kosovo

Biannual magazine published by the American Chamber of Commerce in Kosovo

Issue 31 December 2020

Turning the Tide on COVID-19: New Opportunities for Kosovo

Build world-class software and dedicated tech teams together with us.

Contents Horizon

Arian Zeka

Jerry Weller

Message from the Executive Director

Can Kosovo transform itself into an export economy?

Arban Abrashi

Suat Bakkal

Bujan Stavileci

Road infrastructure during a pandemic:Smart investments and clean environment

COVID-19: A new normal for banking

Hospitality post COVID-19

Ilir Grapci

Visar Ramajli

Doresa Rexha

Renewable energy: The story that unites in Kosovo investors and entrepreneurs from all over the world

Manufacturing and the Environment

Using interaction to bring people closer together: the case of gjirafaVideo

Armend Ukshini

Bujar Demjaha

Chris Thompson

Opportunity in chaos: Benefits of the ITO &amp; BPO industry in Kosovo in the face of Coronavirus

Higher education in Kosovo during COVID-19: Challenges and Opportunities

The show must go on - Online Meditation and Dispute Resolution during the pandemic

Ardian Kastrati

Dairida Metalia

Uranik Begu

The Road to Recovery: How Microfinance Can Help

Strengthening business resilience: people impact and tax considerations

HACK THE CRISIS: CONTINUITY WITH OUR COMMUNITY

30 Xhavit Gashi Kosovo cyber security capacity building and the urgency for better protection with the ongoing COVID-19 Pandemic

Horizon

Arian Zeka

Executive Director American Chamber of Commerce in Kosovo Dear Members, Friends and Partners, Allow me to extend my deepest gratitude for your tremendous support, trust, and loyalty throughout these unprecedented times. Me and my staff find pride in serving the business community during the most extraordinary times for doing business, through numerous advocacy activities aimed at tackling your most concerning issues, at any given time. Regardless of the circumstances, 2020 has been quite a year for the American Chamber of Commerce in Kosovo, with over 110 activities organized through joint efforts with our members and partners. As one of the youngest AmChams within the network of AmChams in Europe, this year AmCham Kosovo was awarded with the third place in the Creative Network Award, a prize which we won with our Virtual Forums project, and a recognition which we hold dearly considering our active and creative approach during the COVID19 lockdown. Our positive membership growth through these challenging times allows us to believe that our ever-expanding network is becoming more and more influential each year, signifying an increased confidence in the reputation and credibility of our chamber, which strives to put Kosovo forward in its Euro-Atlantic path. For the past 16 years, the American Chamber of Commerce in Kosovo has been a steadfast supporter of the private sector, and we take pride in being among the most active chambers in the country. 6

While several challenges have prevailed in 2020, our efforts have remained firm â&#x20AC;&#x201C; advocating for a better rule of law, attracting more American and other Foreign Direct Investments, creating jobs, as well as improving the overall business climate of the country. AmCham Kosovo continues to be an active voice of the business community, a bold and confident chamber that is able to influence policy-making and decisionmaking processes in order to prevent any situations that would result burdensome for the private sector. However, none of our efforts would be possible without the incredible support, continuous inputs, and constructive feedback of our members. Regardless of the toughness of these times, we are grateful to our member companies for their leadership in times of crisis. We remain at your service!

Arian

AMCHAM KOSOVO

HORIZON

Jerry Weller Former U.S. Representative

Can Kosovo transform itself into an export economy? Many business and government leaders continue to ask how Kosovo can attract greater U.S. investment and create jobs for its young and talented workforce especially when thinking of the best long-term strategy to recover from the current COVID-19 crisis. The worldâ&#x20AC;&#x2122;s largest consumer market continues to be an attractive focus for many economic development strategies around the world and many countries have successfully attracted investment resulting in the production of goods for American consumers. Kosovo is well positioned geographically, contains a young population with great capacity and potential and can benefit from the special relationship with the United States. The question is obvious; how can we capitalize on these strengths?

We suggest that Kosovo capitalize on these assets by enlisting a combination of two key programs offered by the U.S. Government that when combined offer a path to attracting investment. First, itâ&#x20AC;&#x2122;s important to note that Kosovo is currently eligible for duty-free entry to the U.S. market for 3,500 goods that can be produced in Kosovo under the General System of Preferences (GSP). Also, the Development Finance Corporation (DFC); formerly known as OPIC, is now stepping up its financing program offerings for Kosovo with the intention of fostering economic growth through direct financing of suitable projects. This combination offers a real opportunity. While the political ties between the U.S. and Kosovo are strong, the economic relationship is in need of some work. A total of $23.8 billion in imports to the U.S. came through the GSP program this past year. However, Kosovoâ&#x20AC;&#x2122;s exports to the U.S totaled $1.1 million and when combined with imports totaling $9.31 million it leaves a surplus of $8.21 million in the favor of the United States. Frankly, with these kinds of numbers, one would think that a solid strategy could significantly change those numbers.

AMCHAM KOSOVO

The GSP program faces an expiration date at the end of this year and the U.S. Congress must act to extend the program. They usually pass an extension but itâ&#x20AC;&#x2122;s important to note that the President can take these benefits away as demonstrated in the case of Turkey. Kosovo needs to advocate for GSPâ&#x20AC;&#x2122;s long term extension and ask for inclusion of apparel under GSP. The production of apparel is a significant employer and like Africa and the Caribbean, an apparel sector in Kosovo would benefit greatly if GSP benefits can remain in place for a long and definite period of time as business seeks certainty. Further the United States has begun using the GSP as an enforcement tool resulting in some countries losing all or partial benefits. Kosovo should identify those products that have lost GSP eligibility for other countries of manufacture and seek to fill that void for the U.S. buyers. When the US Congress created the African Growth & Opportunity Act, it created a tenyear period of certainty for trade preferences including apparel exported to the US market. Countries such as Ethiopia capitalized on this by targeting apparel manufacturers for investment and production.AGOA generated over $1 billion in African exports to the US this past year and Ethiopia has seen over a 60% growth in the exports as a result.

HORIZON

A key question is who needs to take the lead? All too often, business leaders look to their Governments to develop and implement a strategy to become an export economy. However, no one better understands what it takes to attract investment in new production capacity than business leaders themselves and frankly, governments come and go, often revising economic development strategies as the political winds shift. Business seeks long term certainty, and only business leaders can develop the kind of strategy needed to capitalize on GSP and DFCâ&#x20AC;&#x2122;s financing for the long term. Business leaders are best positioned to not only develop this strategy but to take the lead in assembling the necessary Coalition for advocating for its implementation in both Prishtina and Washington. Former U.S. Representative Jerry Weller is a Senior Advisor to Sandler, Travis & Rosenberg P.A., a leading trade focused law firm with offices around the world. He previously represented a diverse District south of Chicago in the State of Illinois.

Arban Abrashi

Minister of Infrastructure of the Republic of Kosovo

Road infrastructure during a pandemic: Smart investments and clean environment

AMCHAM KOSOVO

Many European countries are changing their road infrastructure investment policies to adapt to the aftermath of the pandemic. The capital of Germany, Berlin, has made changes by widening paths for allowing cyclists to move easily and maintain social distance. In Milan, roads are being converted into sidewalks or bike paths. Paris and Brussels as well are making changes which favor the free movement of pedestrians and cyclists. Escaping from congested environments means seeking alternative changes in transportation, by favoring the transport of pedestrians and cyclists for the purpose of reducing the overcrowding, especially among urban transportation.The new reality has made us consider shifting efforts towards customizing road infrastructure in such a way that it proves functional even in times of crisis and enables free movement while respecting social distance. The Ministry of Infrastructure will support cycling and the movement of passengers in suitable and spacious premises, with special emphasis on making the protection of health and life a top priority. Investments in road infrastructure will be reoriented to the construction of paths, sidewalks, under and overpasses, widening of roads and eliminating of traffic bottlenecks. Importance and priority will also be given to ecological transport by drafting policies that promote ecological transport and the use of ecological vehicles such as electric or hybrid cars.The Ministry of Infrastructure will make smart investments by optimizing them in areas which are priorities for the lives of our citizens. These smart investments will focus on identifying traffic problems, collecting data on accidents and traffic delays, and then taking action to eliminate these obstacles. The last but not the least are strategic projects of national importance, such as the completion of highways, the construction and modernization of the railway line, and the construction of the multimodal station in Prishtina,which integrates the railway, regional, and urban transport and the connection of the city with the Airport.

HORIZON

Suat Bakkal Chief Executive Officer at BKT Kosova

COVID-19: A new normal for banking Social and economic environments have become increasingly challenging due to the unprecedented effects of the COVID-19 pandemic, which are not only causing jeopardies in the health systems and economies, but are also hitting the social organization and functioning of individuals. Routine is changing, so is life, and the banking industry is no exception. Considering the given circumstances, the mission of the banks should primarily remain on providing people with peace of mind, convenience, and opportunities in the banking sector. Banking should be easy and as such, banks should be as close to customers as possible, making banking accessible and flexible at any time by using online platforms which constitute the core value of customer relationship management, especially during times like this.

Discussing further about the utmost need to digital orientation of the banks, especially during the pandemic, the most righteous thing to do is to put people first, therefore the current top priority of the banks should be to protect the health and well-being of employees and customers, while they continue being dependable partners during this time. However, given the distant banking procedures imposed, banks will need more qualitative data and a better data mining, so that customers are guided to utilization of the electronic banking transactions, especially in relation to nonbank clients who have difficulties to access finances, due to artificial intelligence communication with clients, instead of a human based one. All authorities and banks themselves should take more responsibility for providing financial literacy and awareness trainings to customers, so that they are familiar with the new normal of banking. Shifting from the conventional way of banking, which is heavily characterized with limited flexibility and limited options of classical products, becomes even more important while considering the outcome of turbulent times. Shifting towards digital banking, opens up new opportunities for banks, not only in terms of growing business, but also in terms of playing an important role in the area of meeting customer expectations and contributing towards economy formalization. Digital banking, on the one hand means that customers will have more possibilities to bank in distance, preserving their health, saving their time and reducing their costs. On the other hand, it also means an efficient way of distributing services for banks, while being able to reach out to a higher number of customers. From a macro-perspective, all this means that companies and individuals will avoid cash, directly contributing to business formality, thus economic development.

AMCHAM KOSOVO

Banks have been working for quite some time now towards automation of services. This has certainly helped not only in reaching the desired cost-saving and efficiency, but in also increasing the satisfaction of their customer bases. It seems like the most important helpful aspect of automation was that the unprecedented pandemic has found banks more prepared to offer their services, while the countries experienced extended lockdowns. Consequently, banks are currently concentrated in providing with the most suitable ways to allow access to banking for their clients, who need to stay in control of their finances, by accessing their accounts anytime to make transfers, pay bills, and monitor transactions. It is understandable that during times of hardshippeople feel uncertain about the outcomes, and that is why banks should always be there to support any inquiries from customers, be it through banking experts at contact centers or simply by visiting informationenriched websites or other electronic platforms. However, offering possibilities to execute simple banking transactions online is not what emphasized the digital orientation of the banks. It goes beyond simple banking, it invigorates initiatives to offer stateof-the-art services, including those that were either inexistent during the normal times of conventional banking, or those that are now hard and risky to conduct. Online banking channels such as e-Banking and Mobile Banking Platforms are not new in the market, however considering the situation created due to COVID-19, their relevance and necessity has grown bigger. Nevertheless, some of the banks went a step further in conceptualizing, developing and implementing other online banking opportunities, so that the will to offer more possibilities to customers materializes further, especially during the time when the free movement of citizens is limited and social activities are halted. In this context, our market saw a Digital Loan through mobile banking being introduced for the first time in the banking history in Kosovo, while the Digital Account which can be opened online for those affected mostly by the pandemic, was launched as well. To complement the new banking services tailored to be responsive to the situationeven more, it was noted that various completely new services came to life. These services were not only designed to supplement the conventional ways of banking, they also came as a result of identification of business opportunities, always aligned with the expectations of customers. An example of this undertaking is related to the created possibility to invest in foreign capital markets, entirely online via an electronic platform attached to the regular mobile banking application.

HORIZON

Considering the economic and social globalization, individuals residing in Kosovo can freely decide whether they want to invest in other markets, disregarding the amount of their savings. When this service is offered all online, it becomes all the more attractive to customers as it enables a stronger cooperation of individuals and companies operating and residing in different countries, and it interconnects business opportunities and preferences. After the government announced its financial support package for the most vulnerable part of the citizens, and having in mind that a large number of these customers do not possess a banking account, many banks decided to simplify their processes of account opening, providing easy, healthy and fast access to banking services for every interested citizen. In this context, banks strove to offer secure, fast and easy ways to open a new banking account, but most importantly the banks are taking concrete steps in preserving the public health, while offering vast majority of the banking services, online, without the necessity to put customers and staff at risk of infection. This means that a new reality is being created, and when the pandemic ends, the desire of the customers to bank digitally will not end. In contrary, banks and customers simultaneously, will have gained valuable experience in building common trust in conducting financial transactions from distance. A new way of banking is embraced: user-friendly, efficient, effective, innovative, but most importantly, secure and credible. Alongside many other developments, the rise of FinTech platforms provides a good opportunity for the country in terms of technology export. Provided the potential of young Kosovo population and worldwide demand, exporting technology constitutes a solid opportunity to develop into this direction. In one hand, the country should develop regulations in the same level like financially developed countries to support these investments, while on the other hand, the regulators should be careful about non-bank related FinTech investments for the security of the market. Conventional banking methodologies are proving to not be sustainable and cost efficient, thus the banks should invent new access roads, while related regulations and laws should provide their help. Finally, considering online banking breakthroughs, it is certain that innovation and creativity play a crucial role by accelerating further especially while banks face an impasse created from external factors, like a pandemic. Contextually, banks have taken advantage of the situation by creating and adopting to the new reality imposed, transforming services into a â&#x20AC;&#x153;new normalâ&#x20AC;? for banking. The new normal is an adaptation and new stars will rise. Kosovo can be a leading country in the area of technological advancement, having the young and talented people. Government, NGOs, banks and regulators should come together and prepare an action plan to benefit more from this new normal for banking. 13

Bujan Stavileci Sales and Marketing Manager at Four Points by Sheraton

Hospitality post COVID-19 While the effects of COVID-19 have been inevitable for all industries globally, it is quite important to emphasize the damage this pandemic has caused to the hospitality industry â&#x20AC;&#x201C; the industry that is all about guest experience. With international traveling being closed and the crazy numbers showcased daily from the people infected with the virus, customer behavior and the overall ranking of a hotel in their priority list changed drastically. Doing business took a different shift, and the leisure segment was nowhere to be found, since people had other troubles to untangle. Although companies have tried to stay on top of their game, there are still adjustments that need to be done, and COVID19â&#x20AC;&#x2122;s effects are only in their beginning.

AMCHAM KOSOVO

Marriott, which has long had a reputation for high standards of hotel cleanliness with wellestablished cleaning processes and training in place, has created the Marriott Global Cleanliness Council to tackle the realities of the COVID-19 pandemic at the hotel level, and further advance the companyâ&#x20AC;&#x2122;s efforts in this area. The Marriott Global Cleanliness Council is focused on developing the next level of global hospitality cleanliness standards, norms, and behaviors that are designed to minimize risk and enhance safety for consumers and Marriott associates alike. It has been wonderful to read that other hotels locally and internationally have taken such instances to protect their guests, nevertheless, the industry will take quite a long time to recover itself. According to research, the recovery from COVID-19 for the hospitality industry could take up to 2023-or later. The only drive for hotels going slightly back to normal around the world, will happen when the domestic segment will start to pick up and people will start to engage in their monthly or yearly business schedules, such as weâ&#x20AC;&#x2122;re seeing happen in China, where a lot of hotels are experiencing increased occupancies generated by the local market.

service, restaurant orders, and also their wellness routines and the level of the new comfortable for each person. So, if personalization used to be a marketing tool, nowadays it is a must to create trust in each customer since everyone is going through this pandemic in their terms. Compared to most of the industries, hotels face quite the journey of a long recovery. Different factors will surface such as whether the hotel is a worldwide chain, the segments that it belongs to (economy, luxury), its adaptability, location, and so on. The important part is that being in the hospitality industry, it looks like everyone has their eyes towards us to make the first impressions and changes on how hospitality is going to look like post-COVID-19, so we ought to make sure that our employees are being taken care of, guests feel safe and trust our new measurements and our staff, and that we make a small boost on our priorities and come together to help one another until everyone is standing on strong ground, with strong feet.

The issue, in general, is the skepticism of travelers and potential hotel guests, who are not going to be easily convinced that they are safe amid many uncertainties. Flexibility is going to play a huge role in the recovery way back, as we see peopleâ&#x20AC;&#x2122;s behavior change about the in-room

HORIZON

Ilir Grapci Managing Partner at SOWI Kosovo

Renewable energy: The story that unites in Kosovo investors and entrepreneurs from all over the world Five years ago, despite the potential, large green energy projects in Kosovo were not being implemented. Plenty of projects had already begun few preliminary studies, but despite public facilitation policies, almost all renewable energy projects ended sometime after the preliminary authorization, mainly due to lack of funding.

Although growing, the value of foreign direct investment is not sufficient for the countryâ&#x20AC;&#x2122;s economic needs. Kosovo continues to face a difficult political and economic situation, with various financing limits that make it very challenging to invest in serious projects, as well as the lack of financial markets and those of investment security. All this makes it even more difficult to carry out large projects in the country, including those of renewable energy. Kosovo has signed several international agreements that have brought considerable obligations, including the production of renewable electricity without harming the environment, in order to diversify its energy sources and move towards a more sustainable development. The fulfillment of these agreements is a precondition for various integration processes, including those of EU integration. Accordingly, policies to encourage investment in the energy sector have been designed in the country, by promoting investments through a number of mechanisms, such as support schemes and tariffs, which include determining the purchase price of energy produced for a given period of time. These policies have also increased the number of investors and investments in the energy sector, as well as the creation of success stories of cooperation, such as the story of SOWI Kosovo and its three wind farms in Bajgora, with a capacity of installed 105 megawatts.

AMCHAM KOSOVO

When we started wind speed studies for our wind-power generation project, we did not know what to expect, mainly due to the lack of more specific data on wind speed in Kosovo. However, the studies conducted showed that we had more than sufficient amounts of wind speed, problems only started to grow. Other studies were required, for example those of equipment transport from a credible institution, acceptable to financial institutions. As the problems grew, so did the value of the investment. With the increase in the value of the investment, the possibility of financing decreased. With lack of infrastructure, it was important that the wind had good and sufficient speed to justify the investment, and it turned out exactly so. Despite the capacities of producing wind energy, and also the willingness of institutions in Kosovo to implement major renewable energy production projects, for Kosovo it was the first time to accept such a high investment in the energy sector. On the other hand, even for international funding institutions it was the first time to finance such a major project in Kosovo. In addition to obtaining over 25 permits required in the country to authorize and build renewable wind power projects from a number of institutions, projects must also go through a number of authorizations, studies, and credibility building processes, with international financial institutions, before being evaluated as such for financing.

HORIZON

Today, five years later, our project is being completed in Bajgora. Three new wind power generation projects in Bajgora, Mitrovica are nearing in completion. 27 turbines from the manufacturer GE, with an installed capacity of 105 megawatts per hour, will produce green energy, to positively affect the electricity supply, and will help Kosovo achieve the set targets of renewable energy production. It is not the first time that challenges are overcome with genuine cooperation. The SOWI project in Kosovo has brought together investors from Kosovo, Germany and Israel to one side, while the European Bank for Reconstruction and Development has donated 58m euros to build the project. This large amount is donated for the first time in Kosovo by the EBRD in the form of a loan, along with other loans granted by Erste Group and NLB Bank, with coverage by the German Agency â&#x20AC;&#x2DC;Euler Hermesâ&#x20AC;&#x2122;. As such it is very important, for building the credibility of the country towards international financial institutions and in promoting the development of other similar projects. Kosovo, the country whose electricity supply is mainly based on lignite, thanks to the cooperation of institutions, experts, and individuals from many countries in the world, will soon benefit from the supply of cleaner electricity, from the largest wind farm in the country, but also among the largest in the region.

Visar Ramajli Co-Owner & Managing partner at KIVO

Manufacturing and the Environment It is evident that life on earth evolves. Humans have evolved in years - most likely the task to evolve has been embedded in every genome of humankind and therefore we are continuously seeking improvement and change. Change requires actions, and by acting, humanity not always does what is best for the environment and everything surrounding it. Nevertheless, atleast we can experience things that are being done wrongly and need to change for everyoneâ&#x20AC;&#x2122;s benefit.

Almost everything we possess today has been manufactured somewhere in a factory. It has come to our understanding that the process of manufacturing of one product and the lifecycle of it varies. While there is no single production protocol or standard under which all manufacturers comply, some can lead to negative environmental and social impact during the production process or after the use of the product. The big questions for every product today lay on whether they are sustainably manufactured and fit for closed loop where a product is produced, used and re-used, or it is collected and recycled to be turned into another product. It is also evident that we need to rethink about how products are manufactured, marketed, and consumed with a minimal environmental impact, if we would like to create or even sustain the environment for the future generations. Obviously, the current trend needs to end, and we all need to act for change. Rapid and sustainable change can occur only if costumers and producers work toward a joint goal, which is the goal for a better environment. It all begins with a design of a product. The size, color, aroma, weight, shape, package, etc. They all play an important role in the whole lifecycle of the product. Although we need to rethink about the manufacturing process of the product, in todayâ&#x20AC;&#x2122;s world we are heavily focused in packaging. It is crucial to design packaging that uses minimal production resources such as raw material, manpower, water, electricity, etc. that truly serves the sole purpose of carrying the product to the costumer. In the past, not everything was available to everyone and everywhere. Todayâ&#x20AC;&#x2122;s supply chain covers almost every meter of the earth. The silk road in the past was used as a route to transport lucrative products and spices that were only found in Asia. Today at your home in Kosovo apart of electronics you find garlic which has traveled from China and made it in our table like there is no possible local sourcing. All of these attribute to CO2 emissions, and transport/trade accounts for 23% of total amount of C02 emitted, having a negative impact on the environment which in return gives us global warming.

We can only make global changes if we act locally and responsibly. 18

AMCHAM KOSOVO

Taking that into consideration, it should be noted that Kosovo imports most of the products it uses, and there are no regulations that ban any type of package nor there are imposed any constrains like banning packaging which is not recyclable. A lot of packaging leads to a lot of waste. In our countryâ&#x20AC;&#x2122;s case 95% ends up in landfill. It is almost impossible to recycle household waste taking into consideration that no presorting happens at any home. Kosovo does not poses any household waste incineration plant, which in best case could turn waste into energy and not overflooding the landfills. Waste water treatment plants are just emerging in some of the cities in Kosova, but, still more than 80% of the waste water is not treated before it is freely released in our rivers, destroying the natural habitat of different species and polluting the waters that even irrigate our crops, fruits and vegetables.

HORIZON

Although Kosovo has passed laws and regulations that comply with EU regulations, the application of such laws has been and still is a big challenge. For this to change we need regulation and enforcement of the rule of law. Banks and other lenders should embed environmental protecting mechanisms to demand from their clientâ&#x20AC;&#x2122;s full compliance for environment protection before they lend their capital. All municipalities should start with demand for household waste to be separated, so, different materials can be recycled and become products again.

Building incinerators on regional level would help reduce the total volume of unsorted and unrecyclable household waste that ends up on a landfill. Each municipally should be forced to build wastewater treatment plants to serve not only the inhabitants but also the industry. All factories and producers must comply with environment policies in place in Kosovo and should be offered financial aid to achieve zero waste production. Government should provide aid grants or facilitate access to finance for producers that invest in green energy or use green energy and restrict the import and use of non-recyclable products as well as impose taxes on those that should be incinerated. The list of actions continues, but it is essential that we act fast and responsibly to preserve and protect of what is left as a clean and sustainable environment. Since we are responsible for these consequences, it is our responsibility to end the environment degradation.

Mabetex Group

Mabetex Group was founded in 1991 by Mr. Behgjet Pacolli and a group of engineers with a wide experience in the ďŹ eld of planning, civil and industrial construcďż˝on. The Group with its headquarters in Lugano is a world class global engineering corporaďż˝on and one of the world leaders in the construcďż˝on market, which has subsidiaries in 18 countries and 14 thousand employees.

Specialized in most areas of presďż˝gious civil and industrial planning, Mabetex owns an extensive porďż˝olio for work carried out all over the world, including the restoraďż˝on of historical buildings, administraďż˝ve and public buildings, urban planning, hospitals, hotels, sports arenas, trade centers, residenďż˝al buildings, theaters and auditorium, airports and interiors. These landmark projects are built to last for centuries to come and will undoubtedly echo through ďż˝me and history.

Early success and growth of the Group is achieved through execuďż˝on of major construcďż˝on projects of paramount importance all over the world. The renovaďż˝on of the Kremlin, the heart of Russia marks the ďŹ rst success of the company, which would expand later to Kazakhstan, Uzbekistan, as well as in other several countries in Southeast Asia, Balkans and elsewhere. Groupâ&#x20AC;&#x2122;s experience is vast, having delivered an array of paramount projects around the world, ranging from Presidenďż˝al Palaces to state-of-the-art sports stadiums, Airports, Hospitals, and to conďż˝nue with the delivery of immensely presďż˝gious projects in some of the harshest climates on earth. Mabetex has been a key player in building and construcďż˝on of prominent government infrastructure and buildings of the capital of Kazakhstan, Astana. In Astana, Mabetex is recognized for having built the most presďż˝gious insďż˝tuďż˝onal buildings and more, including the Presidenďż˝al Palace Akorda, the Parliament, various Ministries, the Classical Theatre Opera and Ballet, the Mulďż˝funcďż˝onal Center, the Olympic Center-Shuchinsk, the Velodrome, the Hockey Arena, The Housing- Residenďż˝al complex â&#x20AC;&#x2DC;Sarandaâ&#x20AC;&#x2122;, etc 0.0 0.2 0.4 0.6 0.8 1.0

Moreover, Mabetex led the construcďż˝on of the Pavilion for EXPO-2017 on the theme "Future Energyâ&#x20AC;? that aimed to concentrate on both the future of energy, but also on innovaďż˝ve, pracďż˝cal energy soluďż˝ons, and their global impact. Mabetex Group today is not just a construcďż˝on company, but a conglomerate compromised in many ďŹ elds such as media, banking, insurance, healthcare, hotels & tourism, retail and fashion. The Group is also involved in property management, especially in Kazakhstan. In this country the Group has constructed more than EUR 1 mln sqm over the years and has been a key player in building and construcďż˝on of prominent government infrastructure and buildings of the capital of Kazakhstan, Astana. With a wealth of experience combined with a team of experts from around the world, Mabetex has recently won an outstanding reputaďż˝on for planning and construcďż˝on of medical centers as evidenced by the construcďż˝on of numerous hospitals with diďŹ&#x20AC;erent specializaďż˝ons located in several parts of the world. The market share and forecast for the Group has increased with a posiďż˝ve trend of revenue with 1.5 billion euros ($1.6 billion) annually, thus the market outlook remains good with a promising future. The Groupâ&#x20AC;&#x2122;s acďż˝viďż˝es have been growing steadily and new markets and opportuniďż˝es have been created over the past few years. New business opportuniďż˝es for expansion in Mongolia, Africa, Middle East, United Arab Emirates, etc will further unlock Groupâ&#x20AC;&#x2122;s growth opportuniďż˝es and remain at the core of the new expansion strategy. None of the above-menďż˝oned landmarks could have been achieved without the impeccable dedicaďż˝on, integrity and spirit of the Groupâ&#x20AC;&#x2122;s team. Mabetexâ&#x20AC;&#x2122;s team consistently d emonstrated tenacity, resilience, relaďż˝onship building and professional skill combined with strategic and eďŹ&#x20AC;ecďż˝ve performance every single ďż˝me.

mabetex group

Doresa Rexha Head of gjirafaVideo

Using interaction to bring people closer together: the case of GjirafaVideo Ever since it was founded, gjirafaVideo aimed at becoming a disruptor in how video content is created and consumed, with a highly motivated team and blooming content. Nevertheless, as it randomly happens, it took a crisis to shift things and start something different, bold, and daring. With COVID-19 locking everyone down, and slowly kicking where the damage is almost irreversible, in people’s mental health and creativity. of the people, almost everything stopped; in gjirafaVideo’s case, the production and creativity stopped, or at least so it seemed.

Improvise,adapt,overcome. It began as a Marine Corps mantra, continued as a recurring topic on Bear Grylls’ show Man vs Wild, and ended up as a meme. But, for the small team of gjirafaVideo, it was a harsh reality, something that woke them up and put them to bed, for three months.With tens of thousands of people locked inside, the pressure to produce and entertain grew. This was particularly challenging because film production and VoD platforms function in such a way that requires everything to be specific, planned, and prepared beforehand - from pitching an idea, creating a storyboard, organizing production shooting and creating a marketing strategy, to launching a new TV show online. The outbreak of COVID-19 created several challenges occurring first from the movement restrictions, which limited the filming crews’chances to shoot anything outside of four walls. Using a small production team, with inventive and unorthodox ideas aimed at giving some joy to the isolated ones, which were in dire need for a spark of creativity,gjirafaVideo improvised. The team used different techniques, rules, and ways to reach out to the audience, which resulted in something special, recognized and valued by the audience, therefore gjirafaVideo adapted and overcame the challenges posed by the crisis. Together we stand, divided we fall.As the virus continued spreading, people continued their isolation in constant need of some positive energy. They needed to escape the routine life with new activities, while gjirafaVideo’s task was to create a piece of work, although with extremely limited resources, and use that work to engage its audience, interact with them, listen to their proposals, ideas, suggestions, and still have a show/program worth watching. While trying to keep everyone happy may be an impossible task, ignoring your most loyal group of people would result in an upcoming failure for a broadcasting and media production company. Therefore, gjirafaVideo decided to do the impossible. Through the use of technology, the company engaged its audience in playing games, answering poll questions and expressing their feelings.

AMCHAM KOSOVO

As a fundamentally important factor for humans’ mental health, interaction remained one of the top priorities of gjirafaVideo. Although facing several barriers, the team continued with previous programs as well as found other opportunities to assist human interaction. For instance, one of the previous programs was TapQuiz –an original interactive program in which the key element is that the audience will be answering questions. During and after the lockdown, many players were afraid that the quiz will stop, but on the contrary, the quiz only became more interesting. Further, gjirafaVideo listened to their players, and created two new quiz formats, where thousands of players consistently participate several times a week for almost an hour. As not everything can be done alone, gjirafaVideo striked a partnership with Prishtina Municipality – one of the most interesting activities during the lockdown through whichthe audience could experience live streamed music, poetry readings, standup comedy, yoga, and fitness sessions. This also included online classes for children, and

HORIZON

other activities. Last but not least, there was a need to create something for the young ones, and during this time gjirafaKids was born. Putting videos of online classes, as good as it sounds, was not enough, because while kids needed education, they also needed fun. In partnership with Save the Children, on a kids’ platform, other interactive shows were launched; allowing them to play quizzes, have fun, learn new and fun things, and spend their time better. In the end,the team continued their interesting and exciting journey, in the midst of impossible, made some people smile, some laugh, and some laugh out loud. Some were angry when the TapQuiz answers showed red and missed the right answer, and some hopeful that there’s still companies out there that listen and engage with their most loyal consumers, as hard as that may sound. So, at the end, it is neither a meme, nor a mantra, it is just hard work and dedication, with the right team at the right place.

Armend Ukshini

Chief Operating Officer at Kosbit

Opportunity in chaos: Benefits of the ITO & BPO industry in Kosovo in the face of Coronavirus

The times they are a-changinâ&#x20AC;&#x2122;! There are few precedents in the history of mankind for the scale and speed of change that Coronavirus pandemic has brought on industries across the world; Information Technology Outsourcing (ITO) & Business Process Outsourcing (BPO) industries make no exception in this regard. Although, according to ISG, global service industryâ&#x20AC;&#x2122;s productivity is currently at 80% of its normal levels, we will inevitably seea short-term setback in the outsourcing world. Faced with the disruption that Coronavirus has imposed in organizations across the globe, organizations are investing in their operations by accelerating digital transformation to support new resilient operational models and by imposing a more feasible cost-structure. In the face of Coronavirus uncertainty, organizations are facing unprecedented challenges, and are undoubtedly working hard to mitigate the financial and operational risks that can disrupt their business continuity.Two challenges are more noticeable among others: at one hand, the financial constraints from reduced business operations, and at the other, staff shortageand insecurity as well astravel restrictions of future travel experiences.Global organizations will start looking beyond their geographical and physical locations towards low-cost countries which offer them customer retention due to lower costs, available and scalable talent pool, technical expertise, and end-to-end project management.For them, outsourcing eliminates the need to invest in technology and infrastructure since outsourcing companies take the responsibility of various IT and business processes and develop their own infrastructure. Deloitte CFO survey shows that 99% of CFOs have taken or intend to take measures to introduce or expand alternative working arrangements.1

https://www2.deloitte.com/content/dam/Deloitte/uk/Documents/finance/deloitte-uk-cfo-survey-q1-2020-report.pdf Ibid

AMCHAM KOSOVO

What do they mean by ‘alternative working arrangements’? On the question of what are the changes in their strategy that will be made regarding their global delivery network after the pandemic, 22% of them have said that their strategy is to increase spending on outsourcing. Apart from financial implications, the ‘new normal’ has brought up a desperate need for flexibility and agility in workforce management, so that day-today operations are secured and organizations continue their work. In lockdown times imposed by governmental policies worldwide, businesses had to relocate their workforce to working from home, reassign staff to the most critical business operations, arrange temporary staff augmentation and quick rollout of communication and collaboration tools. This technology adoption leads to faster digital transformation with unpredicted outcomes. By being ’forced’ to allow their delivery teams to work from home during the pandemic, organizations had to make decisions on highly important and sensitive topics such as cybersecurity, usage of cloud applications, data privacy, as well as service obligations, without having full visibility of the impact of these decisions. Reducing security risks is not only the biggest challenge faced by IT teams globally, it is the top reason for service provider consideration for outsourcing partnerships.From cloud to networking, data center to security and more, breadth and depth of capability are essential to recover and restore operations and position organizations strongly for the coming years. Having a trusted, flexible and tech-savvy service provider who can support your operations from nearshore or offshore locations provides an outstanding competitive advantage. It also represents a cushion of operational safety that might serve companies to gain their own competitive edge. In times of remote work, organizations use high-quality video conferencing applications for communication, and collaboration toolsfor working together while tending to be productive as if they have been working in the same office. These tools and other applications must run on a safe and secure infrastructure.Outsourcing providersensure that new remote working applications and critical business functions are operating without interruption, and that your organization’s network 2

and applications are protected from attackers exploiting the uncertainty of the situation and performing ransomware, phishing, data leakages, hacking or insider threat. All these applications are more and more moving to cloud as a safer and more efficient way of storing and processing data. The Global Business Process Outsourcing Market will grow by USD 105.49 billion during 20202024, according toTechnavio.2 This growth of the BPO industry will be consequently translated into the growth of countries that are traditional hubs, like India and the Philippines, as well as emerging countries like Kosovo. Coronavirus lockdown in Asia had started two to three months before it started in South-Eastern Europe, and according to many reports, companies in Asia did not manage to handle the disruptions that have come from the pandemic very well. This gives an edge of preference to service provider companies in Kosovo. They have the necessary experience, maturity, equipment, infrastructure, and management tools to offer an outstanding quality of services at a very low cost. Adding strategic time zone and location, cultural affinity and a young and talented population, Kosovo is not “a new kid on the block” anymore, instead, it is a serious player which is challenging other countries of the region. The country’s service providers need to take the appropriate measures to keep up with the new developments in the industry. They need to invest in their contemporary technological infrastructure, in the professional education of the workforce and in building new partnerships as well as successfully managing existing ones. In every chaos and uncertainty, there is opportunity. Nowadays, there are challenges like inability to travel and build relationships with new customers or close business deals, and there might be a general feeling of skepticism of organizations towards outsourcing. But, as stated in the beginning, forced from the need to adapt to the new reality, organizations will invest all their time and efforts on mitigating the financial and operational risks. This represents a marvelous opportunity for Kosovar organizations which will manage to overcome all these challenges and emerge victorious in the face of all these adversities. They have gone through much harder times and much bigger challenges, haven’t they!?

https://www.technavio.com/report/business-process-outsourcing-market-industry-analysis

HORIZON

Bujar Demjaha Rector at AAB College

Higher education in Kosovo during COVID-19: Challenges and Opportunities The COVID-19 pandemic has affected our entire world and all aspects of life in general. In addition to the economy as a whole, this pandemic has severely threatened all levels of education which until that point had been functioning in the traditional, analog way. Out of all academic levels, considering its specifics, higher education has faced the most challenges during this period and unfortunately, higher education institutions in Kosovo have also been heavily impacted. When the first cases of COVID-19 were reported in Kosovo and we went in lockdown, both public and private institutions used this time to secure all premises by conforming to the recommendations from the World Health Organization, as well as the measures implemented by our Government and National Institute of Public Health.

AMCHAM KOSOVO

Quarantine and distance learning This included regular sterilization, changing of the apparel code by making wearing protective masks mandatory for all students before entering school grounds, maintaining of social distance and other preventive measures. Disinfectant supplies such as hand sanitizers were also installed at all entrances and most frequented areas, while spaces for student interaction and gatherings such as cafeterias were closed and unfortunately so were public libraries. Even though the outbreak of COVID-19 in Kosovo caused us to go into quarantine thus making our traditional teaching processes impossible, most universities had little trouble adapting to online teaching as many already had online platforms in place for their students such as the e-service platform of AAB, which gives students access to all their materials, lectures, homework assignments and digital library at all times. Thanks to the development of technology and the overall advancement of the IT sector in Kosovo, most institutions were able make some minor interventions to their platforms, so taking exams remotely became a possibility. Most Kosovar higher education institutions developed effective platforms by combining their existing platforms with virtual classrooms. Online lectures were also a great experience during quarantine, as students were able to attend their classes more regularly from the comfort of their homes and be more interactive with their lecturers. AAB College in particular started the #StudentforStudent initiative where senior students of the Faculty of Foreign Languages – English Department held online English courses for other all AAB students for free, within a two-month period in an attempt to make the time locked inside more productive, fun and educational.

HORIZON

However dire the situation in those initial months of the pandemic, all levels of education in Kosovo went through the transition to online learning. The digitalization of this sector in particular was taken well by both students and parents due to the benefits of learning from home. Schools independently of each other decided on which online platform served them best to make their usual classes available. All they needed was an internet connection and a click. This period also brought out the true nature of Kosovar institutions and businesses as all came together to make sure all students had the necessary equipment such as laptops, phones or computers to be able to partake in online classes. Our persistence that there should be no discontinuation of the teaching process was based on one major goal; send the message to our students and everyone else that we should not surrender to an “invisible enemy” but instead we should find a way around it, and adapt to whatever life throws at us. All the changes we were forced to implement within our educational system were done with one single goal in mind, making this period easier for our students, so we kept in contact with them at all times and took their input into consideration while adapting to this new reality. Student bodies from all institutions were heavily involved and thanks to their cooperation, they now have more opportunities to pursue their academic careers than they did last year as remote learning will be a possibility for generations to come. Despite the many irreversible negative effects this pandemic has had, it has provided Kosovo the chance to further develop digital learning which is now more accessible, easier, and adaptable to all, because it eliminates barriers our students often encounter such as having to travel long distances to get to class, inclement weather, illness or working hours. ‘’Our goal as academics, is to make this path easier for those who choose the same career so educational institutions in Kosovo will always do what is best for their students. Our goal at AAB is to provide Quality, Leadership, Success for all those who come our way’’. Bujar Demjaha Rector, AAB College

Chris Thompson Chief of Party - USAID Commercial Justice Activity

The Show Must Go On - Online Mediation and Dispute Resolution During the Pandemic What happens when courts close their doors but you still have an ongoing and pressing legal dispute to resolve? The current pandemic is forcing Kosovo’s businesses to not only find innovative ways to keep operating in a restricted environment but also how to handle conflicts when no judge is available for an extended period of time. With the stress and anxiety imposed by a new normal that may be around for a long time, now it may be more important than ever to consider mediation— particularly online mediation—to resolve business disputes.

First, what is mediation? Not everyone knows what mediation is. Put simply, it is a special procedure where the parties mutually agree to engage a neutral, independent professional to listen to each side of a dispute and help the disputing parties work toward a potential resolution. Mediators are licensed professionals who are trained in effective dispute resolution methods. Unlike arbitration, mediators do not act as judges and do not “decide” a dispute or make awards. Instead, they work carefully with the parties to understand drivers behind the

dispute and evaluate the obstacles in reaching an agreement. Not every case can be resolved consensually, but many can. And some disputes that cannot be fully resolved by mediation may be narrowed down to one or two issues for decision, often greatly simplifying the litigation process.

How does the process work? Kosovo has had the legislation which enables mediation in place since 2008 and Kosovo’s Ministry of Justice maintains a register of licensed mediators. In 2018, Kosovo’s Assembly passed a new Law on Mediation explicitly authorizing courts to refer cases to mediation and requiring parties in certain types of civil cases to attempt mediation (called “mandatory mediation”) before litigating. In court-referred mediation, a mediation clerk in the court reviews cases and, for appropriate or mandatory cases, contacts the parties with instructions to try mediation providing a list of available mediators. To go forward with a mediation session, disputing parties must agree on who will serve as mediator and they must sign a written agreement to mediate.

What are the benefits of mediation? The principal benefit of mediation is the opportunity to avoid long delays, costs and risks incurred fighting it out in court. Court cases last for years and multiple hearings can quickly generate substantial fees and expenses. Mediations are usually far less costly and much more quickly resolved than court battles. In addition to substantial cost and time savings, mediation offers other significant advantages: • Parties to a mediation remain in control of the process. No decision is imposed on them and either party can terminate the process at any time and return the case to court. • Mediation procedures are confidential. Unless agreed otherwise, everything said at a mediation is confidential to the parties and the mediator and is not allowable as evidence in court proceedings. • Another significant benefit is convenience. Mediations can be arranged at appropriate locations convenient to the parties. • Successful mediations can help preserve or rebuild fractured relationships between parties, resulting in stronger partnerships going forward.

AMCHAM KOSOVO

Who pays the mediator? In civil cases, the parties pay the mediator proportionally. Initial mediation fees are regulated by the Ministry of Justice (a draft tariff regulation is pending adoption by the Ministry), and parties who decide to continue beyond the first meeting can reach an agreement with the mediator on fees for future sessions. Costs are usually minor in comparison to lawyer fees and expert costs incurred fighting it out in court.

Finally what is online mediation? Online mediation takes convenience a step further. It involves conducting mediation sessions using video teleconferencing capacity, usually over the Internet. Commercial online video platforms such as Zoom can be used for online mediations however, extended sessions will usually require paid subscriptions and often involve downloading software. It is important that such platforms provide an option for separate sessions, so that the mediator can speak individually and confidentially with each side during the meeting. Adding to convenience, parties no longer need to travel to a particular location or even be in country all they need is an internet connection. Adding to that, the virtual nature of online mediation provides a more relaxed environment. Some cases settle more easily, as parties remain in their own chosen location, fostering more honest, open conversation than may be likely in a formal office or court environment.

HORIZON

Is online mediation available in Kosovo? Prompted by restrictions imposed by the COVID-19 pandemic and working with the USAID-funded Commercial Justice Activity, Kosovo’s courts have recently established the capacity to refer cases to online mediation. To simplify and expand accessibility in Kosovo, the Commercial Justice Activity also researched and identified a suitable public source video platform –www.jitsi.org. The first online mediation cases—court referred cases—took place in May 2020. A training video on how to use the jitsi platform (in Albanian) is available for viewing here: https://www.gjyqesori-rks. org/2020/07/30/seancat-e-ndermjetesimitedhe-ne-menyre-virtuale/.

Conclusion So, let’s go back to the question at the start of this article – what can businesses do when courts become unavailable and restrictions prevent citizens from moving about freely? Online mediation offers the potential for relief – faster, cheaper, confidential, and much more convenient than going to court. If you cannot wait it out, online mediation may be for you. USAID’s Commercial Justice Activity supports greater reliance on mediation in Kosovo, building awareness and supporting court referral of cases to mediation. For additional information about mediation in Kosovo, readers can visit the website of the Kosovo Ministry of Justice (in Albanian) here: https:// md.rks-gov.net/page.aspx?id=1,41. Finally, readers should note: AmCham Kosovo offers mediation, including online mediation, as a service for members and nonmembers alike.

Ardian Kastrati Chief Executive Officer at FINCA

The Road to Recovery:How Microfinance Can Help About FINCA Kosovo FINCA Kosovo is part of the FINCA Impact Finance Network, a group of 20 microfinance and financial institutions that provides socially responsible financial services and enables low-income entrepreneurs and small business owners to invest in the future.

The crisis caused following the outbreak of COVID-19 has upended lives across the world and has shown that no one is immune to economic, social, and emotional vulnerabilities. While it has affected everyone, the poor have been particularly vulnerable, and many lack access to credit to help them weather periods of extreme volatility. Microfinance Institutions exist to meet the needs of those who live and work outside the formal banking sector and have a critical role to play as we emerge from the pandemic. These institutions reach people who otherwise would not have access to financial services. Most of their clients are the unbanked, clients that do not have access to commercial finance, and rely on very small loans to support their families or growing businesses. For over 20 years, the microfinance service industry has been an integral part of the economy in Kosovo. It plays a critical role in growing micro-businesses, supporting women in business, and developing the rural sector. The very essence of microfinance comes from the idea that everyone should have access to finance and tools to improve their standard of living.

AMCHAM KOSOVO

It is important for microfinance institutions to lend responsibly and not over indebt their borrowers; at FINCA as well we are committed to promoting responsible and client-centric practices in the inclusive finance sector. It is also important to create a tradition of listening to the customers. A survey conducted on FINCA Kosovo clients to assess the impact of COVID-19 has revealed the different ways the pandemic has affected their lives. As the results show, in May 67% of clients expressed that they are concerned about their current well-being due to COVID-19. Health concerns, economic situations, and the ability to work or earn income are the top main concerns of our clients. The lockdown measures have hit the low-income households the hardest and households are struggling to pay for food, electricity, and rent. Because of the uncertainty of what will happen in the near future, only around 30% of our borrowers mentioned the desire for new loans to recover from COVID-19.

Restarting the flow of credit is also critical, beginning with existing customers who have demonstrated strong repayment performance before COVID-19. After a period of stifled productivity, clients will be eager to regain economic stability and to remain in good standing with their financial partners.Microfinances are adopting a digital strategy and shift to a digital business model in which data analytics is used to screen and make decisions. As physical contact is being discouraged, digital financial services are playing a key role in mitigating the risks of the virus spread. Because of the shift from a conventional business model to a digital model, access to finance and better decision making will be more effective and efficient for both the borrower and the lender. With its social and financial objectives, microfinance is about supporting its borrowers during difficult times, and it continues to play a major role in rebuilding this country. When this distressing situation is restored to normalcy, microfinance institutions will be ready and willing to help.

So, what are microfinance institutions doing now to mitigate this vulnerability? Safety procedures are being implemented at all branches, loans are being restructured to support the borrowerâ&#x20AC;&#x2122;s capacity, and digital engagement and touchpoints are being enforced. Restructuring loans aims to reinforce financial discipline while easing the burden as much as possible for our clients, who bear enormous responsibilities for the wellbeing of their families and communities.

HORIZON

Dairida Metalia Manager in the Tax Department of Ernst & Young Albania and Kosovo

Strengthening business resilience: People impact and tax considerations The unprecedented COVID-19 pandemic is testing the resilience of every organization. While it is problematic to predict the full socio-economic impact of its outbreak, this pandemic has served to remind us that under uncertain times, enterprises must be proactive in their planning in order to handle uncertainties well and emerge stronger from them. Although there are many unknowns that might provide difficulties, enterprises must become resilient to ensure business continuity and long-term viability. Ever since this pandemics has become part of our everyday lives, businesses have been facing several issuesand they are highly interested in cracking the code on how to understand the exposure to the pandemicas well as how to effectively tackle the disruptions caused by it. While some companies might be experiencing limited side effects, there are others that are being faced with critical operational risks, however, no enterprise remains unaffected by the impact of this major global phenomenon. Amid plenty, people impact tops the list of the challenges for each

business, as it is necessary to safeguard employeesâ&#x20AC;&#x2122; health and wellbeing, causing in turn the temporary freeze in activities of some key economic sectors. There are various areas of business which need to be tested to approach the crisis management and business resilience. However, in this article I will briefly address two business areas: people impact and tax considerations.

People impact Employee welfare and workforce management tops the list of business concerns as many business activities which have front-line consumer interaction bear an inherent risk of virus exposure. Much like other countries, the limited physical interaction measure in Kosovo has dictated new workplace rules. Enterprises in Kosovo are continuously aligning their internal guidelines with the local government policies aimed at containing the spread of the coronavirus. These times have provided a golden opportunity for business digitalization; thus,

many enterpriseshave shifted to teleworking practices and processes. This is a very dynamic situation as other outbreak phases can be expected and there are no easy decisions. To ensure workplace resilience, an immediate action for enterprises would be workforce and workplace planning which includes amongst others: assessment of teleworking capabilities, strategizingthe workforce to ensure continuation of operations, creating a crossfunctional COVID-19 response team, ensuring sanitation supplies and equipment, planning forpotential interruption of projects and quick resumption, evaluating vendor management, limiting building and space occupancy, and engaging staff in a consistent dialogue about actions beingtaken to protect and support them.

AMCHAM KOSOVO

Tax considerations Taxes play an important role in relieving the financial impact of the economic crisis that is evolving whether through tax reduction, postponement of filing deadlines or introduction of other fiscal incentives. As the crisis continues to evolve, enterprises need to revise their business strategies and evaluate the impact on their taxes, and a good way to start that would be by asking two very important questions: • What is the level of the digitalization of your finance and tax department? • Are you able to identify cost savings and take advantages of the fiscal stimulus policies introduced by the government? It is important that enterprises ask themselves these questions in order to better anticipate the impact of the crisis and determine the actions that need to be taken in order to minimize the exposure to such crisis. For many enterprises, COVID-19 will introduce financial performance strains which have potential tax impacts. As assets’ value may decrease, companies should consider revaluation options considering the tax implications (e.g. tax provisions). Liquidity shortfall may require businesses to sell assets and enterprises must review the direct and indirect tax implications. Decline in the financial performance will impact the return on investments, therefore enterprises should revise the tax loss forecasts and identify the tax implications. Travel restrictions andemployees stranded inother countries instead of where they regularly work may bring uncertainty in questioning whether a home office can attract permanent establishment creation, which triggers the obligation to register for tax purposes in the former country. This is particularly relevant for Kosovo since it has a limited network of tax treaties. Also, subsidiaries of multinational enterprises must conduct a critical transfer pricing assessment since subsidiaries may have to report lower than expected profits. Particularly cost-plus remunerated subsidiaries and limited risk subsidiaries may need to absorb part of the group wide losses arising from the pandemic’s effect. Enterprises should be prepared to address potential challenges by tax authorities on the changes in TP policies and funding models. It is important to emphasize that business and government policies alone cannot end this crisis. Relaxation of lockdown measures to encourage the economic recovery should be helped by a sound behavior of each individual as we have crucial role in the containment of the virus by respecting the simple containment measures.

Note: This article has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax or other professional advice.Please refer to your advisors for specific advice.

HORIZON

Uranik Begu Executive Director of Innovation Centre Kosovo

Hack the crisis: Continuity with our community

Desperate times call for desperate measures! When the Government of Kosovo declared the Emergency State due to the COVID-19 pandemic and Prishtina was in lockdown, in an effort to prevent the further spread of the coronavirus, we at ICK were inspired by the movement Estonia started for hacking the crisis using innovation as a method to alleviate navigating this new reality. Staying inside got our energy all pent up, so we decided to act on it and with the help of our community and supporters such as the Municipality of Prishtina, Gjirafa, UNDP, UNICEF, the Embassies of Sweden and Norway and GIZ, the Innovation Centre Kosovo, for the first time ever organized the event ‘’Hack the Crisis Kosova’’ aiming to use innovation to do more for the disadvantaged communities within our country, and for the people who were suffering great losses due to the spread of the virus.

AMCHAM KOSOVO

This Hackathon was hosted online so as to keep all participants safe, and brought together 400 community members and 38 teams of young, savvy tech enthusiasts, who came up with brilliant and creative ideas and solutions for the problems they wanted to solve. These innovators worked together to design digital products that would tackle the issues of social and psychological nature, education and economy, as well as the future of businesses and governing during and after the pandemic. Our applicants registered with an idea and were organized into the teams they got to work, but little did they know, they would not be doing this alone. On the second day of our Hackathon we introduced 60 successful mentors who supervised their work and provided advisory input which ultimately helped them build a more concise structure of developing their idea and implementing it properly. After three days of intensive work, our teams presented their work online, before our jury cast their votes. Their ideas and the event were received very well by the public, as all projects presented a method to come to citizens’ aid when it was most needed. At a time when getting the correct information was imperative in helping people remain alert of the situation, teams “Cross Sourcing”, “AntiCov”, “InfoSource”etc., came up with informational apps as a form of expression, and kept individuals informed on the intricacies of the pandemic in general, but also provided advisory columns many needed to avoid being consumed by fear due to illegitimate information. As our health was and always is a top priority, our innovators from teams“Green”, “VeqShnosh”, “Hap Per Ty”, and “Sani-Door” went to great lengths to remind everyone to become alert, do check-ups, and disinfect their hands. During moments when people weren’t sure if their cough was just a cough and not an indication of poor health, our teams through their hard work and efforts were there for us so we could take the situation more seriously.

HORIZON

“What about mental health?” you may ask. Seeing how being locked inside, away from our usual errands and activities, really took a toll on our mental health, teams such as “Converse Hotline” created a place where people could call and talk about their anxiety or claustrophobic tendencies when they hit. Team “Qka me Bo”, “Tempus” and “Karantina-rks” were there to provide everyone with fabulous ideas and activities people could do to fill their days and remain active. The impact the pandemic had on the economy could not be overlooked so the “Isolated Heroes” and “Save Kafiqat” came up with the brilliant idea for gift-cards for discounts in our favorite businesses to be used after the quarantine was lifted, so our economy would not dip into the anticipated negative estimates, but instead beat the crisis by making sure that our economy remained intact and alive via circulation. As vital as the economy is, the glue that keeps it all together is education. This particular sector was given special attention from our teams who created websites and apps aiming to help all students, parents and teachers gain access to reading materials without having to endanger themselves by going outside to brick and mortal libraries. Team “Digital Library” provided PDFs online, the “Single Online Management Education” was aimed at supporting parents, teachers, and students alike via E-Learning Kosovo, Online Exams, EduKo and the Online Platform for Education. The crowning jewel of the event and the winner of the Hackathon was an idea born from the drive to help our community and those who are less fortunate. Team “Avengers” created a platform free for all and accessible via phone and computer, where people could ask for and give advice. ‘’Dhuro’’ is a product that brought together Samaritans and people in need of help and essential products like food, clothing, medicine and books. Implementing new concepts in the field of education, supporting the economic flow via delivery of goods, and all other handy ideas may just be the first steps to hacking the crisis caused by the pandemic, but we are up to the task! For now, we move forward and innovate a better path for us all.

Xhavit Gashi External Advisor at the American Chamber of Commerce in Kosovo

Kosovo cyber security capacity building and the urgency for better protection with the ongoing COVID-19 pandemic

Cyber security has been accepted to be an existing international security issue since 2004 when it was decided that October of each year was to be marked as cyber security awareness month. In a post war Kosovo, particularly after the declaration of Kosovo Independence, a lot of work has been done in building law enforcement, security, and defence capacities as processes of institutional building. With unfailing support from its allies, Kosovo has achieved considerable progress in building up its capacities to meet National Security Challenges, including the progress made in cyber security. Not unlike any other area, building cyber security capabilities requires considerable time and resources. Colossal advancement and development in Information Technology has been made during the last two decades globally, in regard to communication, education, production, defence, security, finance services, energy, but also in other areas including IOT (Internet of Things). In this regard, we should not forget the revolution with 5G and cloud as a new norm. This rapid digital transformation at a global level has positively impacted our lives beyond imagination. With interconnection of different communication devices reaching billions of users worldwide, it has transitioned the use of internet from a secondary platform to a primary platform for many of our services and activities. This undoubtedly brings many challenges to our society as well. The newfound threat presented by cyber-attacks or cyber-crimes, directed to ordinary citizens, private & public companies, and institutions, that targets critical infrastructure, and even governments, makes us aware of the need for better preparedness of defensive measures.

AMCHAM KOSOVO

According to the World Bank’s Cybersecurity Capacity Review report for Kosovo, the country has made a lot of progress in many areas of cyber security capacity building. During recent years, Kosovo has gained a comprehensive understanding and has identified gaps and opportunities for capacity building. However, at a government level there is more work to be done on cyber security laws and national cyber security strategy.

This issue has been brought up many times by Kosovar and international cyber security experts. Coming from a diplomatic background, I’d say that there is some wiggle room for Kosovo to get its own domain even if the UN membership for our country is delayed by a few more years. Of course, in this goal we need to have the support of our strongest allies, but also the support of UN itself.

The widespread use of information technology in Kosovo spiked immediately after the war. With a large international presence, we have been able to gradually follow international trends of digitalization. One of the key factors to this trend is also internet penetration throughout the country, reaching around 80-90%, like other European countries. This has positively impacted the quality of services from all sectors and institutions. Digitalization of many services and business activities brought more job opportunities via outsourcing services offered to companies from U.S., EU, and other countries around the world. With all the benefits brought up by digital transformation, there are new challenges for us too. Kosovo’s cyber security infrastructure is vulnerable to potential threats caused by ill-intending acters such as criminal individuals, terrorist groups and criminal acts supported by adversary state agendas.

The fact that the UN, at least with a few of its organisations, is already operating in Kosovo, allowing Kosovo to have its own domain would not only make their operation in our country easier, but it would eventually make them and Kosovo more secure from cyberattacks. October, being the global cyber security awareness month, has brought together many local and international organisations offering different learning and advising opportunities in increasing the level of awareness on cyber security as a very critical issue for our everyday life. Since 2004 when this awareness campaign had initially started, the role of cyber security has grown enormously. The current situation with COVID 19 has radically changed how we live, work, and learn.

There are many cyber-attacks or cyber-crimes known to the public globally. They differ from their intent and targets, however, almost all cyber security threats are directed towards data and computer systems/networks. Cyber-attacks occurring in countries from different parts of the world should reminds us that no country, regardless of size or location, is immune to cyber threats. A big threat is posed to Kosovo specifically due to the lack of a national domain which means that we rely on other countries’ domains, therefore making Kosovo more fragile to cyber security threats. The fact that Kosovo is not a member of UN makes it difficult for international authorities dealing with coordination, management, and telecommunication standardisation, to treat Kosovo as an independent country. Therefore, these authorities treat Kosovo as part of computer networks and communication of Albania, Serbia, Montenegro, and Macedonia.

HORIZON

The concept of work from home and online learning has transformed from being optional choices to becoming the norm in many cases. At the same time cybercriminals are exploiting the new circumstances created by COVID-19 to breach communication and network systems. According to many assessments from different cyber experts, the most common forms of cyberattacks during this time are phishing campaigns, cyber espionage, and ransomware. This opens our eyes to the need for better protection of our data and information as well as networks and systems.

As a takeaway message for this cyber security awareness month, well elaborated and advised by global network security and cyber security experts including Dr.Fred Cate from Indiana University, the easiest way to utilize basic preventive and defensive measures against personal cyber threats is to follow the safety triangle of: 1. Cyber Hygiene, 2. Following the Security Settings on our devices, and 3. Using common sense and good judgement. Finally, just like in any other field, in order to achieve greater levels of cyber-security agility and quality in Kosovo, we must place great emphasis on PublicPrivate-Partnership and collaboration.

Artmotion ka ndërtuar DataCenter të standardeve të larta teknike duke

bashkëpunuar me kompani me përvojë ndërkombëtare. Kjo DataCenter është e ranguar në nivelin TIER3 e që nënkupton qëndrushmeri të shërbimeve për 99.98% te kohës.

Duke bashkëpunuar me gjigant të Telekomunikacionit në Evropë dhe Amerikë, si Telia Network, Cogent, Google dhe Facebook, ne kemi arritur që qasjen në internet ta ngrisim në nivel tjetër ku kualiteti, saktësia dhe qëndrueshmeria e sherbimit është e nivelit më të lartë. Kemi ndërtuar rrjetin e shërrbimeve në mbarë vendin duke u bërë lider për kah standardi, shtrirja e shpejtë dhe teknologjia e fundit e përdorur duke punuar në bashkëpunimin me kompanitë më invoative në tregun nderkombëtar. Jemi të parët dhe të vetmit në Kosovë që kemi ndërtuar rrjet të teknologjisë së fundit Docsis 3.1 duke kaluar kështu në avantazh të ofrimit të shërbimeve te rendit gigabit për klient. Me staf vendor, të ri e entuziast, Artmotion është lider i ofrimit të shërbimit të internetit dhe TV digjital në tregun e Kosovës.

FIRST MARRIOTT INTERNATIONAL CHAIN HOTEL