Issue 16

tH

Bi-annual magazine published by the American Chamber of Commerce in Kosovo.

February 2012

TheHorizon

The

Kosovo: Looking into the Future P10 • The Tax Administration of Kosovo P14 • The IMF and Kosovo: A Decade of Partnership P16 • Focus on Patron Members: NLB Prishtina P18 • Let’s enforce them! P20

Kosovo Business Agenda

HELPING YOU REACH YOUR 2 HIGHEST POTENTIAL OUR SERVICES ECOTRADE’S MINING AND ENERGY INDUSTRY DEPARTMENT OFFERS THE FOLLOWING SERVICES: Refurbishment of conveyor belts.

Construction and refurbishment of railways.

Different equipment for the mining sector (supply with different equipment, spare parts and reparations).

All types of bearings (industrial, automotive) and other special bearings.

Different systems and equipment in the field of lubrication.

Different types of machinery, industrial equipment and spare parts.

All types of couplings (hydrodynamic, electromagnetic, elastic and flex couplings).

WWW.ECOTRADE-CO.NET

The Horizon | February 2012

Board of Directors of the American Chamber of Commerce in Kosovo

President: Mr. Christopher Hall, American University in Kosovo (AUK)

Vice President: Mr. Erolld Belegu, Marigona Residence

MEMBER

Mr. Afrim Maloku, Deloitte Kosovo

MEMBER

Ms. Maury Ray Bridges, Booz Allen Hamilton

Treasurer: Ms. Ardiana Bunjaku, Society of Certified Accountants and Auditors of Kosovo (SCAAK)

MEMBER

Mr. Agon Gashi, Meridian Corporation

MEMBER

Mr. Valon Lluka, Banka Ekonomike

Secretary General: Mr. Dastid Pallaska, Pallaska and Associates

MEMBER

Executive Director, Mr. LekĂŤ Musa

MEMBER

Mr. David Greer, USAID SEAD

Mr. Driton Zairi, FORD/Kosova Motors

MEMBER

Mr. Andrew Patterson, Bechtel and ENKA

INFO

Issue Number 16 The Horizon is the official magazine of the American Chamber of Commerce in Kosovo. Every publication of the Horizon contains a different theme with focus on economic perspectives in Kosovo. The Horizon is distributed to a broad audience including the AmCham membership, decision makers, diplomatic representations in Kosovo, the donor community, the US Chamber of Commerce in Washington D.C., and to the European Council of American Chambers of Commerce based in Brussels.

Published by: American Chamber of Commerce in Kosovo; Fehmi Agani St. No. 36/3; PrishtinĂŤ, 10000; Republic of Kosovo; +381 38 246 012; www.amchamksv.org; info@amchamksv.org; Editor-in-Chief: Ms. Zana Haxha The Horizon | February 2012

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Patron Members

All Members 3CIS • ACDC-KOS • AGANI Ltd. • Arta-VM • Alcatel Lucent • Arbër Sherifi • ARKING • ASGETO • ATLAS Electric Company.INC • Asseco • Ambers • AUK • AVC • ASHA • Avokatura I.O.T. • Banka Ekonomike • Banka Kombëtare Tregtare • Bechtel- ENKA • BelleAir • Boga &Associates • BONUS • Booz Allen Hamilton Inc, Kosovo Branch • British Airways • BU &Partners • Buçaj • CEED Kosovo • Coca Cola Hellenic • Checchi and Company Consulting Inc.• Compakt Group • CONIN • Crimson Finance Fund • Company 21-RTV 21 • DELFINI LTD • Deloitte • Devolli Company • Doctor Exterminator • Dukagjini Group • ECOTRADE • ELTING • Exclusive Group • Fondi Slloveno-Kosovar i Pensioneve • Gail Warrander • Gllareva • Gorenje Niti Tiki • Grant Thornton • Hotel Prishtina • Hotel Emerald • Hana Cakuli • Ilir Kosova • INFORMATIKA Computers • Interlex Associates • International Real Estate Appraisals • IPKO Telecommunications • Jaha Com • Kosovo American Education Fund- KAEF • Kalo &Associates Kosovë • Kenny’s Goat Ranch • Kerasan • KONET • Kanarina Shehu • Kosova Motors • Kosova Steel • KPMG • KWE • Linda Shala • L.T.I. EXPIK • Marigona Residence • Managament and Development Associates-MDA • Meridian Corporation • Metal Group • Microsoft • Mimoza Kusari- Lila • NewCo AROMATIK • NewCo Ferronikeli Complex • NPG- New Promotion Group • NLB Prishtina • Ogilvy Kosova • Pallaska &Associates • Patroni • Pestova • PharmaSwiss SA • Posta dhe Telekomunikacioni i Kosovës • Price Waterhouse Coopers • Pro Credit Bank • PR SOLUTIONS • PRONET • Raiffeisen Bank • Recura Financials • Rrota- Shtepia Botuese • RIMA Eng. • Safet Dorambari • SA& MA • SCAAK • Scan Color & Jysk • SCLR Partners • Semitronix Center • SharrCem • SIGAL • SIGURIA • Sigma Accounting and Consulting • SOLE KOSOVA • SPORT IN • STONE CASTLE • Technetix • Trokit • UniProject • Universiteti Iliria • USAID Business Enabling Environment Program in Kosovo-BEEP • VEV Group • Valvis Company • Western Union The Horizon | February 2012

editorial

By Zana Haxha Editor in Chief

Dear members and friends, Year 2011 was very dynamic at AmCham. From awarding the Best Business Price to Raiffeisen Bank in the beginning of the year, to the creation of the ,first ever in Kosovo, Corporate Social Responsibility (CSR) Network and the establishment of the Arbitration and Dispute Resolution (ADR) Center, we have come to complete quite a successful year. another important accomplishment of AmCham during year 2011 was a project called the Kosovo Business Agenda, which has been supported by the Business Enabling Environment Program (BEEP). This project aimed to identify issues at the local and central level that posed as obstacles for doing business in Kosovo. After working closely with the business community AmCham produced a study

which provided recommendations to the appropriate authorities on how to improve the doing business climate by addressing specific issues which were identified as obstacles by the business community. in this publication of the Horizon you will find a detailed review of the Kosovo Business Agenda with focus on the doing business climate in Kosovo. You will also read contributing articles written by officials in key positions in institutions that affect the ease of doing business, and articles by staff at AmCham who are engaged in different projects related to doing business.

We hope that you will enjoy this publication of The Horizon. Our sincere thanks to for all the contributing authors and our partners who have helped make this year successful at AmCham.

The Horizon | February 2012

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BU and Partners is a business consulting firm in Kosovo providing professional services in auditing, taxation and business consulting.

BU & Partners was formed in 2001 and now is one of the leading auditing firms in Kosovo, providing financial and accountancy services, tax and business consultancy to organizations on a national and international basis. Our team consists of experienced professionals, including licensed and senior auditors, tax experts, and a team of supporting professionals with business administration and finance degrees.

Our commitment to providing high quality services is achieved by the personalized approach we provide to our clients. We use our best professional resources available to provide our clients with timely and affordable professional services.

We bring international expertise in local context to meet our clients’ needs in audit, taxation and business consulting with highest integrity and professionalism.

Bedri Pejani 3, 10000 Prishtine, Kosove | Tel: +38138226942; +38138721200 | Email: info@bu-partners.com | www.bu-partners.com

The Horizon | February 2012

trembelat BU/1201

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Doing Business in Kosovo

Kosovo Business Agenda The

2011 has been a busy year for the Policy Department issues and recommendations provided in AmCham’s Kosovo Business Agenda 2011 will be followed up of AmCham, however it has been a great pleasure for the policy team to serve the business community and presented in forms of policy and position papers by other business associations in Kosovo under the and advocate for issues that will ultimately help DFID-funded Private Sector Developin creating a better doing business ment II project. environment. Thanks to the support of Some of the key issues identified the USAID Business Enabling Enviin the Kosovo Business Agenda 2011 ronment Program AmCham has been document are being addressed by able to travel around Kosovo and get the relevant institutions, such as the first-hand insight on the issues that case with the abolition of the working businesses face. permits requirement by the Ministry Kosovo Business Agenda (KBA) of Trade and Industry in the new Law 2011 document that AmCham proon Internal Trade. Other major issues duced thanks to the input of the busiWritten by: related to the Customs are also being ness community has been evaluated Arian Zeka addressed by the Customs manageby many stakeholders as a significant Deputy Director, AmCham ment as they have announced a series document that will help the key instiof new measures that are expected to significantly tutions and agencies better understand and address improve trading across borders. The issues of custhe problems that businesses in Kosovo face. The

The Horizon | February 2012

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Doing Business in Kosovo

toms valuation and non-acceptance of invoices at the border are also expected to be eliminated with more agreements of cooperation reached between Kosovo Customs and the customs of other countries.

The Tax Administration has upgraded its electronic tax system, which is expected to eliminate the issues deriving from the late processing of tax statements as noted in the Kosovo Business Agenda, and has also prepared a new information package, which will help businesses in understanding their rights and obligations as well.

We have also reacted against the announcement by the power utility KEK on the possibility of abolishing priority supply categorization for businesses, because that would only deteriorate the already difficult situation of power supply.

The position papers and reactions that we produce would not have been possible without the The Horizon | February 2012

valuable contribution and feedback of AmCham Committees; therefore AmCham is grateful to all its members who have participated and been very active in the meetings of AmCham Committees.

Thankfully, we have been successful in many of our efforts; however, there are many other improvements that need to be done in the future. It is of utter importance for municipalities to stop seeing the businesses as a source for collecting higher revenues, as this is not the way of helping develop their local economies and improving the overall welfare of their citizens. The future efforts of AmCham Policy Department will be focused in addressing the issues coming from the local level.

AmCham Kosovo is looking forward to working with the business community in advocating together for a better business environment in 2012 as well.

Kemi punë për JU www.kosovajob.com 9

Project kosovajob.com is an online job finder portal, aiming to connect companies with potential employees but also to serve as a central database of Kosova job market We have developed a total multi-language solution that would provide equal opportunity platform to find potential jobs, with information presented in Albanian, Serbian and English language.

KosovaJOB KEMI PUNË PËR JU

HRVATSKA GOSPODARSKA KOMORA CROATIAN CHAMBER OF ECONOMY

Huazimi i pajisjeve për përkthim simultan. Shërbime për konferenca, prezentime dhe trajnime.

Për çmime dhe prenotim kontaktoni: 038-602042, 044/049243376; info@avc-group.com avcprishtina@hotmail.com The Horizon | February 2012

Looking future

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into the

Written by: Bernard Nikaj Principal Advisor to the Minister of Trade and Industry

At the moment of this writing a team of experts from different agencies of the government are working hard to introduce a single business identifier, a step we believe will bring to life a one-stop shop approach to dealing with government agencies.

The Horizon | February 2011

Doing business in Kosovo is not easy.

This much can be said by anyone who has read the World Bank’s Doing Business report in the last three years. A major difficulty contributing to this is the increased tendency of local and central administrations to introduce fees and charges for licenses and permits affecting the business community.

Nevertheless, starting from March this year the Government of Kosovo has embarked on an ambitious initiative to improve the overall business environment in Kosovo. This reform agenda is geared toward ensuring that businesses, existing and new, find it easier to operate in Kosovo but also toward achieving better ranking on the Doing Business Report. To oversee the process, a permanent task force has been established chaired by the Office of Deputy Prime Minister for Economy.

One of the first targets has been simplifying the procedures to register a business and at the same time ensuring proper protection for minor shareholders. This has been achieved by amending the Law on Business

Associations passed by the Parliament in June this year. Another important issue on the reform agenda has been dealing with Working Permits at the Municipal Level. While we understood the need for municipalities to generate revenue, we also had to ensure predictability for businesses operating throughout Kosovo. This was not possible with the way most municipalities decided to use and abuse the need for a working permit. Thus, the parliament adopted the amended Law on Internal Trade, abolishing the need for working permits and simplifying the procedure for registering a business. Due to these reforms we have shortened the time required to start a business from fiftytwo days to maximum twenty days.

Parallel to these reforms we have established twenty-two one-stop shops for business registration in various municipalities across Kosovo.

In the meantime we have been focusing on cutting down on all licensees and permits to achieve our goal of 50% less licenses by 2014. In line with this aim the Ministry of Trade and Industry has abolished the licenses

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Doing Business in Kosovo

for construction firms, making the first step towards achieving this very ambitious goal. To ensure that future regulation is controlled and in line with the international best practices the government is working on adopting new legislation which will for the first time provide predictability to the process of introducing licenses and permits on all levels of the administration.

While the achievements in 2011 have not been easy, we are committed to push further. At the moment of this writing a team of experts from different agencies of the government are working hard to introduce a single business identifier, a step we believe will bring to life a one-stop shop approach to dealing with government agencies. At the same time there is another group of experts working to unify back-office systems and procedures across the government to ensure a faster and more efficient delivery of services to businesses across Kosovo.

In line with our vision of a developed and prosperous country and in line with the need to promote and facilitate the economic development of Kosovo we are working hard to do everything that is needed for the private entrepreneurship to flourish. We believe that in 2012 all investors, local and international, will find it easier to do business in Kosovo. We also hope that this will reflect in better ranking in the Doing Business report.

Finally, we remain committed to work together and address all the issues brought up by the business community. Only together can we reach our common goals.

The Horizon | February 2012

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Reinforcing Conditions for Productivity Growth

Only three years after the financial crisis had brought the world economy to its knees, firms, households, and governments have become pre-occupied—yet again—by the prospect of a global recession. This time, root causes are unsustainable public-debt levels in parts of the eurozone (and the US), leaving investors alarmed, banks unsettled, and households under stress. Economic forecasts for 2012 have been made difficult by the fact that policy responses to mounting financial pressures have remained underwhelming. To varying degrees, countries in the Western Balkans were hit hard by the previous crisis, and they are left struggling in their attempts to regain the fiscal space necessary to cushion harmful socio-economic effects from another downturn. As argued in the World Bank’s recently published South East Europe Regular Economic Report (RER), the effects of a further global slowdown—and especially prolonged uncertainties around the eurozone—would impact the economies in the Western Balkans through trade, foreign direct investment (FDI), foreign banks, and remittances.

In fact, of the six potential indicators of vulKosovo is no exception, even though it might be nerabilities that the RER has identified, Kosovo less exposed to related effects than its neighbors. finds itself in the “danger zone” with only one of Main arguments for this assessment would comthem—viz., high (and rising) current-account deficits prise (i) Kosovo’s relatively lower trade integration (meaning that exports of goods and services pay with the EU; (ii) the comparatively higher degree of for only a small fraction of imports). income stability of the diaspora conAdditional efforts will thus have to centrated in less vulnerable countries Writen by: be made to increase the efficiency (Germany and Switzerland); (iii) the Jan-Peter Olters of production to allow for increased healthy liquidity and capitalization Country Manager - World import substitution and/or exports. ratios of banks; and (iv) the soundBank Kosovo This focus is particularly important as ness of the fiscal position. At about 7 Kosovo uses the euro as sole legal percent of GDP, public debt at endtender, implying that policymakers are precluded 2010 compares favorably even to star performers from using currency depreciation as an instrument such as Estonia, Bulgaria, or Luxembourg. Not least because of the fiscal nature of the present financial- to boost international competitiveness and/or offset market turmoil, the low level of public indebtedness wage increases in excess of productivity growth. provides a critically important ingredient to potential This leaves Kosovo with few options but to address structural and institutional bottlenecks directly and, investors’ assessment of Kosovo’s relative attracin so doing, aim at increasing domestic productivity tiveness.

The Horizon | February 2012

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Doing Business in Kosovo

and narrowing the gap with higher-income countries in skills, technology, and infrastructure. This can be done most directly and effectively by attracting strategic investments from companies that bring in, together with the capital, knowledge and expertise.

Especially in light of the difficult external conditions, Kosovo will only be able to attract FDI of the scale and scope to set off high and sustainable rates of (domestic productivity) growth if economic policymakers manage to (i) ensure macro-fiscal stability (implying the proper preparation and tendering of large-scale public infrastructure investments); (ii) strengthen “soft” infrastructure (comprising an attractive business climate and the rule of law); and (iii) build “hard” infrastructure (with a concomitant focus on ensuring the availability of sufficient funds for maintenance). In this endeavor, the World Bank will remain a partner and increase its financial and technical support to help the government to achieve

its socio-economic development objectives. It is currently discussing with Kosovo the first four-year Country Partnership Strategy with which to address some key challenges and development constraints so as to boost sustainable growth and employment and improve environmental conditions and naturalresource use.

Given the high unemployment figures and low income levels, Kosovo will have to grow at rates considerably faster than its neighbors to be able to catch up and effect tangible improvements in living conditions. It is thus encouraging that the government has made reforms in the area of Doing Business a key policy commitment, aiming at becoming one of the top reformers in subsequent surveys.

This bodes well for Kosovo’s medium-term growth potential—irrespective of developments elsewhere.

The Horizon | February 2012

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The Tax Administration of Kosovo

Dear AmCham Members and Taxpayers, The Tax Administration of Kosovo (TAK) is a pillar of economic development for the country, and as such, a professional civil service is a fundamental criterion for the steps towards our goals.

A sound legal framework and its precise implementation is a foundation for rationalizing processes and offering efficient services.

We believe that the most effective method for increasing and maintaining tax collection is by building a trust-and-respect based relationship between TAK and the taxpayers. Following this concept, TAK is led based on these principles: voluntary completion of obligations; professional, transparent and effective services for taxpayers; and fair and uniform implementation of tax laws for all taxpayers.

The responsibility of TAK is to administer the implementation of all taxes foreseen by the tax legislation. This means that TAK needs to make sure that taxpayers thoroughly respect the tax legislation of the Republic of Kosovo.

All citizens of Kosovo are required to complete their tax obligations which enable the financing of governmental programs such as: offering public services, high-standard education, health and social welfare, legal protection and security, and overall infrastructure for a better economic and social welfare.

Kosovo is known for one of the lowest tax rates in the region. It has the lowest corporate and income taxes (10 %) and Value Added Tax (16%). In addition, the tax system is very simple so that taxpayers can fulfill their obligations easily.

However, it is deceptive to believe that tax compliance rates even in the most modern countries can ever be reached 100%. Therefore, on its tax filing strategy TAK has identified four groups of taxpayers for whom it will undertake all necessary steps to provide favorable tax filing methods under equal conditions.

The first group includes the regular taxpayers. For this group, TAK will provide easy, fast, and professional tax payment services. TAK has nine The Horizon | February 2012

tutoring and tax service teams that are located in nine regional offices in order for tax payment services to be closer to taxpayers. In addition, we have upgraded our technology infrastructure which now makes it possible for taxpayers to declare their taxes directly from their offices.

Only this year a total of 1197632 tax declarations have been Written by: downloaded by taxpayBexhet Halili ers. This illustrates Executive Director how the upgrade has enabled taxpayers to save time and avoid many bureaucratic procedures in the process of declaring taxes.

In addition, this year we have launched e filing – EDI which will further reduce the amount of time spent on filing taxes. Electronic tax filing is modern, advanced, fast, and a simple way of filing. This system enables taxpayers to open an online account at the TAK website where they can file taxes as well as check their tax history.

TAK has also made it possible for taxpayers to complete many services within a day. For example the fiscal number, the VAT certificate, as well as other tax certificates can all be obtained within a day. This by all means influences the creation of a better environment for doing business. In addition, TAK training instructors on tax payment procedures inform every new business about their tax obligations.

With the support from donors such as USAID, this year TAK is establishing Call Centers that will offer taxpayer services through free phone calls.

Taxpayers will be advised with regards to payment methods of their debts, tax filing methods, as well as about the help which TAK can offer in regards to the procedures of implementation of tax legislation.

All these improvements implemented by TAK yielded a desirable result of 81 % rate of volunteer

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Doing Business in Kosovo

tax filing at the end of this year. This makes us happy because the majority of Kosovar taxpayers belong to the first group of taxpayers who complete their tax obligations voluntarily.

Taxpayers who due to imprudence or negligence fail to file their tax obligations regularly comprise the second group. However, through its IT system TAK can easily identify this group of taxpayers and react immediately. This year, there have been 70126 visits conducted for this purpose.

In the third group belong all taxpayers who fail to pay their tax obligations on time and in a proper way. Through its advanced electronic risk analysis system TAK is able to identify this group of taxpayers and, through its tax control system it is able to calculate the unpaid tax obligations. Up to this date 695 tax controls have been carried out, which have

resulted in 19,461,647 tax filings. It is encouraging that this year TAK has conducted fewer tax controls in comparison with previous years, and the tax revenues have been higher as a result of educational activities that have been carried out.

The fourth group contains taxpayers who are not willing to pay their obligations and use different methods of tax evasion. Our Tax Investigation unit has undertaken all the measures so that this group of taxpayers acts in accordance with the laws in power.

It is very important that regular taxpayers as well as business associations join our efforts to reduce the number of taxpayers who belong to the fourth group, given that tax evasion creates inequality in the market and worsens the economic environment for the regular taxpayers.

The Horizon | February 2012

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The IMF and Kosovo: A Decade of Partnership

The purpose of the International Monetary Fund (IMF) is to promote international monetary cooperation and provide a forum for global consultation and collaboration on international monetary problems (Articles of Agreement). In practice, the IMF is involved in a broad set of economic matters and it has acquired substantial expertise with a broad set of issues across its membership, including developing and advanced countries. It is in a sense like a “knowledge institution”, i.e. it holds the expertise and experiences across the member countries from the most developed to the less developed.

The IMF has been engaged in Kosovo for the last decade by providing policy advice and technical assistance. The office in Kosovo was opened in September of 2002, prior to Kosovo’s membership to the IMF. Kosovo became a member of the IMF in 2009 (its 186th member; now there are 187 country members).

Currently, the IMF is engaged in Kosovo with a Staff-Monitored Program (SMP). The SMP runs until end-2011 and entails test dates of end-September and end-December. An SMP is an informal arrangement with staff to monitor the implementation of the authorities’ economic program; it does not entail endorsement by the IMF Executive Board and does not involve financial assistance by the IMF. Kosovo’s SMP was initiated on June 20, 2011. It was agreed after Kosovo’s 2010 Stand-By-Arrangement went off track, in large part reflecting outsized public sector wage increases in the 2011 budget.

The policies under Kosovo’s SMP target decisive steps towards fiscal sustainability and stronger budget management and execution. A track record of strong performance under the SMP could pave the way for a return to an IMF-supported program in 2012. The First Review under the SMP, which assessed performance of targets up to end-September, was concluded satisfactorily, paving the way for The Horizon | February 2012

Doing Business in Kosovo

the Second Review that will take place in the first months of 2012.

Kosovo’s economy has remained largely unaffected by financial turbulence in the euro area, owing to Kosovo’s low degree of integration into global goods and financial markets.

Financial conditions have remained favorable, with no signs of distress in the financial system. Banks have remained well capitalized, liquid, and profitable.

Written by: Non-performing loans Mr. Jose Sulemane stood at the lowest Resident levels in the region, Representative and in all systemically important banks nonperforming loans are fully provisioned.

Kosovo’s short-term growth prospects remain for robust expansion, with activity supported by domestic demand, although real growth in 2012 may be affected by downside risks in response to the weaker outlook for the euro area.

Risks to the outlook are related primarily to transfers from the Kosovar diaspora and the financial system. A deeper downturn and higher unemployment in countries where most remittances are originated could depress remittances and FDI and provoke a sharper than anticipated deceleration in domestic demand, with negative knock-on effects on imports and receipts from border taxes.

Going forward, as the Kosovar authorities advance with economic reforms, this partnership with the IMF will continue to strengthen with the aim of contributing to the development process of Kosovo.

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The Horizon | July 2011

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Focus on Patron Members > NLB Prishtina NLB Prishtina is one of the leading banking institutions in the Republic of Kosovo. Through an extensive experience and knowledge of its management and staff, it plays an essential role in the development of banking sector.

NLB Prishtina was founded on January 1, 2008 through the merger of NLB Kasabank and NLB Banka e Re e Kosovës. Since its establishment the bank has always shown positive results, which has enabled an ongoing and a safe growth. According to the latest Balance Sheet, total assets of NLB Prishtina are € 376 million; customers’ deposits € 316 million, while loan portfolio is € 205 million.

Today NLB Prishtina has 530 employees who serve clients in 64 branches all over Kosovo.

NLB Prishtina’s success relies upon the strong commitment to providing quality services, offering various banking products generated based on the clients’ needs, as well as creating and maintaining a connection and special attention to the individual and business clients.

Being a member of NLB Group - one of the strongest financial institutions in the region, NLB Prishtina is in an excellent position to provide its clients with financial assistance in order to achieve their goals.

NLB Prishtina sh.a.

Rr. Rexhep Luci nr. 5 10000 – Prishtinë, Kosovë T: +381 (0) 38 234 111 F: +381 (0) 38 246 189 E: info@nlbprishtina-kos.com W: www.nlbprishtina-kos.com

The Horizon | February 2012

> Products and Services NLB Prishtina offers various services and banking products to its individual clients, small and medium enterprises, as well as corporations.

Depending on their needs and wants, clients can opt for products that fit them best such as different loans, overdrafts, savings accounts, term deposit accounts, debit cards, credit cards, e-klik (e-banking), and many other services.

Bank has recently launched MasterCard Installment which enables clients to buy in any store (company) in the world that has an agreement with MasterCard, while they can pay the debt in installments of 1 to 24 months. > NLB Prishtina as a Sponsor NLB Prishtina demonstrates its responsibility towards the society by contributing to the development of social life, cultural activity, and different sports disciplines.

We have helped several organizations and individuals to fulfill their ideas, while by doing so we have always known why!

Some of events, artists, and organizations that have been supported by NLB Prishtina are as follows: SOS Children’s Village – Kosovo; KAEF – Kosovo American Education Fund; KF Prishtina; KB Bashkimi; Genc Salihu; 9/11 Film Festival; Profile of NLB Group; The NLB Group has successfully realized the position of becoming the largest Slovenian international financial group.

What used to be just a vision a few years ago, has now become reality and promises even more for the future. The expansion of the universal banking financial offerings on home and interna-

tional markets remains our key objective because we wish to dynamically expand and improve our product, ensuring holistic financial services centrally located and independently complete.

By expanding its offer of indirect banking services of financial nature and with the adaptation to the needs of local markets, the NLB Group embarked upon a demanding task but perceives it as a stimulating business challenge.

With its 49 members on 15 markets, the NLB Group is a stable partner offering numerous combinations of financial services for every type of business.

We are proud to be able to support our clients in a variety of circumstances; we also make individualized financial packages and accompany you on numerous markets because our greatest wish is to build a partnership with our clients. A partner relationship based on trust, high-quality service, and strong business expansion, intelligent cost efficiency and risk management.

We are a financial institution with the tradition of striving for our customers to always come first. We therefore direct our work and aim towards the basis of customer satisfaction. We are convinced that the NLB Group with 12 banks, 9 leasing companies, 10 companies for international trade financing (factoring, forfeiting, export financing),4 insurance companies, company in asset management and 14 other companies is a complete and time-tested, traditionally trustworthy partner to help you realize your business visions, both at home and abroad. With 1500 correspondence relations in 140 countries, NLB Group accounts for the largest Slovene international financial group. As at 31 December 2010 NLB Group employed 8.809 employees.

e këste Blerje m ë deri n

MasterCard dhe Maestro

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Focus on Patron Member

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muaj

Me MasterCard realizoni blerjet tuaja me këste kudo në botë deri në 24 muaj Dëshira për të blerë nuk ka çmim, kurse blerjet mund të lehtësohen me Maestro dhe MasterCard.

Apliko tani dhe përjeto lehtësimin e blerjes me këste deri në 24 muaj në gjithë botën vetëm me MasterCard.

The Horizon | July 2011

www.nlbprishtina-kos.com

038 / 240 230 111

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Let’s enforce them!

Efficient contract enforcement is the key to attracting investments and enhances the economic growth in developing economies. The capacity to enforce contracts is generally considered a qualification for economic growth.

A vital relationship exists between the quality of contract enforcement and the quality of the business and investment environment. Current level of enforcement of judgments triggers higher interest rates, lower availability of credit, lower investment, higher prices for goods and services, higher rates of business default and bankruptcy.

The World Bank Doing Business indicators look at the efficiency of contract enforcement by following the evolution of a sale of goods dispute and tracking the time, cost, and number of procedures involved from the moment the plaintiff files the lawsuit until actual payment. The current prospective for Kosovo looks weak – 420 day for enforcement of a disputed claim of less than 4,000 EUR. Fostering private dispute resolution through arbitration and mediation will improve the contracting environment. Not only are these methods often less expensive than a lawsuit, they can produce more accurate decisions as well. Where the parties to arbitration or other alternative dispute resolution mechanism contemplate continued dealings, each has an incentive to abide by the arbitrator’s award.

Each may also comply because of the effect on its reputation if it refuses to do so. If a party refuses to honor an arbiter’s decision, it runs the risk that other firms will decline to do business with it in the future. Where the incentives of repeat dealing or reputation are not present, the courts can backstop arbitration by permitting the prevailing party to bring an enforcement action.

Currently, there are two Alternative Dispute Resolution Centers in Kosovo. The AmCham ADR Center offers you a non-exhaustive list of professional arbitrator, who are trained and certified to provide arbitration services to companies and professional support throughout the entire process by our Secretariat. It is time to begin arbitrating your disputes, it is time to enforce your claims!

The Horizon | February 2012

Doing Business in Kosovo

Ardi Shita Secretary General of Alternative Dispute Resolution Center at the American Chamber of Commerce in Kosovo

Smith’s most powerful insights is that economic growth rests upon the enforcement of contracts.

“The certainty of being able to exchange,” as he calls it, is what leads firms and individuals to specialize. And it is specialization or the division of labor, “which occasions, in a well-governed society, that universal opulence which extends to the lowest ranks of the people.” Growth thus depends crucially on the environment for contract enforcement. Where entrepreneurs are assured their contractual obligations will be honored, specialization and the boom in productivity and growth that it produces will follow. (Adam Smith, The Wealth of Nations, 1776)

Kosovo CSR Network — A story of success!

From its very foundation, the members of the Kosovo Corporate Social Responsibility (CSR) Network have been determined to fully integrate best business practices into their day to day activities.

This way, the Network closely resembles the members’ quest of sustainable development by creating proactive solutions to societal and environmental challenges, as well as collaborating with other Besianë Musmurati stakeholders to raise CSR Coordinator the public’s awareness on CSR. Besides profit making, business ethics represents a major capstone for our members. The creation of the first CSR Network in Kosovo is just one of the first steps that we are undertaking to follow our mission.

This month, the Network will implement the first two projects of its own, the Shadow a CEO Programme and the Traffic Safety Project. Both of the projects seek to comply with the Networks’ mission, which is to promote sustainable societal growth through its activities.

The idea behind organizing the Shadow a CEO programme is for undergraduate students to obtain an idea of what the work of a CEO of a major corporation/company is. More specifically, the students will shadow the CEO they are assigned to at all meetings for a whole week. Through this experience, the students will be exposed to a number of clients and partners of businesses. Through this programme, students will be able to obtain insight in day to day management and business communication in some of the major companies in Kosovo. We believe that this program will enrich and foster the entrepreneurial spirit among Kosovar youngsters.

The Traffic Safety project is a six-month project which involves five primary schools in Prishtina. The idea of the project is to engage retired school teachers to help children in these primary schools to cross

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Doing Business in Kosovo

the street during the rush hours. According to the Kosovo Police, these five primary schools are prone to higher risks from car accidents near the schools, as they are very close to some of Prishtina’s main roads. We anticipate that this project will benefit two parties, the children themselves who will be safer on their way to school and back, as well as the retirees who care for to children’s safety.

The scope of our projects will vary and we believe that our Networks’ capacity to organize such projects will increase in the future. We strongly believe that Kosovar businesses have always bared in their hearts the CSR concept. Our aim is to widen the scope of their contributions to society and furthermore strengthen this relationship. Hence, we welcome other businesses to join the family of the CSR Network, so that together we make a difference!

The Horizon | February 2012

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Teaming Up to fight childhood cancer AmCham, Rotary Club Prishtina International (RCPI), and Becton, Dickinson and Company (BD) are pleased to announce the donation of specialized blood analysis equipment to NFK (Ndihmë Fëmijevë me Kancer/ Help for Children with Cancer), a Prishtinabased NGO that is working closely with Kosovo’s Ministry of Health to improve the delivery of care to children who suffer from cancer.

Although rare, cancer is a leading cause of death among children around the world. According to the UN’s World Health Organization (WHO), nearly 180,000 new cancer cases are diagnosed among children under the age of 15 each year.

Most childhood cancers can be largely cured if detected early. In the United States and most of Europe, the overall survival rate for childhood cancer stands above 80%. Survival rates are much lower in the developing world (including in Kosovo), where many cases go undiagnosed and/or access to treatment is lacking.

Survival rates for most types of cancers have risen dramatically in the past forty years, due in part to the work of companies like Becton, Dickinson, which manufactures a range of medical devices critical to the successful diagnosis and treatment of blood cancers such as leukemia, the most common form of cancer among children.

“This donation is part of a broader effort by the American Chamber and the local Rotary network to support the development of Kosovo’s healthcare system,” said Maurice Downey, President of RCPI, speaking on behalf of the program partners. “Eventually, through our combined efforts, we The Horizon | February 2012

hope to see the creation of a Health Services Centre of Excellence that will serve not only Kosova, but neighboring countries as well.” *** Established in 2006, Ndihmë Fëmijevë me Kancer (NFK) is a parents organization committed to supporting the work of the Children’s Oncology Ward at the University of Prishtina Clinical Center of Kosovo.

Rotary International is a network of more than 1.2 million business and professional leaders serving communities in over 200 countries across

the globe. Kosovo’s first Rotary club was established in Peja in 2006. There are now ten clubs in the country, with membership totaling approximately 250.

Becton, Dickinson and Company (BD) is a medical technology company that serves healthcare institutions, life science researchers and clinical laboratories around the world. Founded in 1897, the company has participated in major public health initiatives over many decades, including the campaign led by Dr. Jonas Salk in the 1950’s to eliminate polio in the United States.

M2M

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Member to Member Discount Program

Pr Solutions 40 % discount for PUBLIC RELATIONS 30 % discount for MARKETING 20 % discount for MEDIA BUYING 40 % discount for EVENT ORGANIZING 40 % discount for TRAINING/COACHING

Asgeto 5% discounts on all pharmaceutical products from Phyto Pharm pharmacy.

American University Of Kosova Master Programs Tuition Group Deductions: 1. Three candidates from a same financial source 10 % discount 2. Five candidates from a same financial source 15 % discount 3. Seven candidates or more from a same financial source 20% discount

Walkers SA&MA

Walkers/ SA&MA Walker’s/ SA&MA offers discounts in catering services and cocktail receptions. SA & MA offers fast food, traditional food, and finger food.

CEED Kosovo CEED Kosovo provides a special offer to AmCham members for an enrollment to its programs, including a 10% discount.

CEED Kosovo will gladly provide an additional offer, if there is more than a single candidate from one company.

CEED Kosovo is open to collaborate with all AmCham members , in order to jointly organize business-driven activities.

How to join this Program: Members interested to join the M2M Program and offer their products/services at a special discount to AmCham Members have to inform the AmCham office in writing. A discount provider had to indicate the product or service discount rate. How to obtain discounts: All members regardless of whether they provide discounts as part of the Program can obtain discounts. Members will soon be able to find information about discounts in the M2M section of our website. How is M2M advertised? The Program will only be advertised internally through AmCham communication channels: a M2M event, AmCham website, and the AmCham magazine. Note: AmCham members will be distributed M2M ID Cards, through which they will be able to obtain discounts.

The Horizon | February 2012

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Events Annual Public Private Partnership Forum AmCham and the Kosovo Chamber of Commerce in cooperation with the Tax Administration and Kosovo Customs organized the annual Taxpayer of the Year Award for 2010. The ceremony which was held on June 30, 2011, was organized for the third consecutive year. This year, the format of the ceremony has been altered, and from now on it will be known as the Public Private Dialogue Forum / Taxpayer of the Year, where representatives from the public sector and the business community will have the chance to share their problems and ideas about the business environment in Kosovo. As part of the ceremony, the five best taxpaying businesses were awarded in three categories: business with a turnover of above â‚Ź 2 million, business with a turnover of â‚Ź 1-2 million, and businesses with 100.000- 1 million turnover.

Kosovo Business Agenda 2011 October 12, 2011 marked the successful completion of the Kosovo Business Agenda 2011 project with a concluding forum with institutional and business community representatives. In this forum, the strategic document with the same title was presented.

The document contains problems that businesses in Kosovo face from the local and central level, which were identified during two rounds of meetings with businesses and business associations in

Annual Taxpayer of the Year Award for 2010 Event.

The Horizon | February 2012

eight municipalities in Kosovo. The purpose of these meetings was to collect first-hand information regarding the issues and challenges which businesses face when doing business, both at the municipal and central level of governance.

In addition, each identified issue contains specific recommendations which were also provided by businesses, thus making the document unique.

The final part of the document contains an action plan, summarizing all the identified issues, recommendations, and identifies all laws or regulations which need to be changed or simply implemented in order to improve the business environment in Kosovo.

Representatives of Kosovo institutions who were present in the forum pledged to undertake all the necessary measures for eliminating the issues which have been identified in this document, in order to further improve the business environment.

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Kosovo Business Agenda 2011.

Member to Member (M2M) Services The first AmCham Member to Member Services event was held on September 8 2011, at Hotel Nartel in Prishtina. M2M events are a great opportunity for AmCham member companies to present their products and their special offers to other AmCham members. On this occasion, the highlight of the evening was Raiffeisen Bank, whose representative presented Financing Opportunities for Small Businesses in Kosovo. In addition, AVC Group and the AUK Training and Development Institute also presented their special offers to AmCham members.

Reception for US Embassy Economic Officers In October, AmCham organized a networking event with Ms. Andrea Tomaszewicz, Senior Economic Officer, and Mr. Jerry Ismail, Economic Officer at the US embassy in Prishtina. The purpose of this

event was to familiarize the new officials of US Embassy with AmCham members.

Workshop on alternative fuels On December 20, 2011, AmCham organized a Workshop on Alternative Fuels in Kosovo. Among other stakeholders from the public sector and from the business community, present at the event were Mimoza Kusari- Lila, Deputy Prime Minister and Minister of Trade and Industry, Ramadan Hasani, Deputy Minister of Economic Development, and ShpĂŤtim Rudi, Deputy Minister of Environment and Spatial Planning.

During the event, a German company, MVW Lechtenburg, on behalf of Sharrcem- Titan presented the findings of a feasibility study conducted for Kosovo’s potentials with regards to alternative fuels, while also sharing similar practices from other countries which successfully make use of these sources.

The Horizon | February 2012

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Events

AmCham Charity Ball 2012 It has become a tradition at AmCham to mark the end of the year with an Annual Charity Ball. On Saturday, December 10th, AmCham hosted its Annual Charity Ball with the purpose of raising funds for the American University in Kosovo (AUK) Scholarship Fund.

The organization of this event was a result of a very active work conducted by AmCham, where businesses operating in Kosovo were encouraged to support the AUK Scholarship Fund through financial contributions. As a result, the AUK Scholarship Fund was enriched with a sum of approximately 100.000 Euros. This amount raised through this year’s Charity Ball marks one of the most successful Charity organizations in Kosovo.

The amount of funds collected reflects the willingness of the business community in Kosovo to directly contribute to country’s economic development and to a brighter future for our youth. The businesses’ contributions in this case also represent the commitment of businesses towards social responsibility The Horizon | February 2012

through investments in education. The organization of end of year Charity Balls by AmCham has become a successful tradition which, in addition to collecting funds for different causes, has also gained a reputation in our society through the high participation of representatives from the business community, but also from different spheres of society. The number of participants in this years’ Ball reached an all time high of four hundred. The guests were entertained by renowned Soprano, Ms. Sandra Bagaric, and EthnoClassic. In the previous years’ Gala Evening, AmCham collected funds for the Pediatric Clinic of the University of Prishtina.

AmCham would like to thank the following businesses for providing distinguished students with the opportunity to attend studies at the American University in Kosovo: Sharrcem, NewCo Ferronickeli, Ecotrade, KOSST, Dukagjini Group, Meridian Corporation, PTK, Banka për Biznes, TEB Bank, Raiffeisen Bank, ProCredit Bank, Banka Kombëtare, NPG, AVC Group, Fundway, Bechtel, Devolli Group, Emerald Hotel, Booz Allen Hamilton, Banka Ekonomike, AUK, Marigona Residence, Vitaminka, Kerasan, BU and Partners, IPKO Foundation, IPKO, Pallaska and Associates, MDA, RTV21, and NLB Bank.

AmCham Trade Mission to the United States From September 20-25, 2011 AmCham led a delegation of Kosovo businesses to a Trade Mission in New York City, USA. Through this Trade Mission AmCham aimed to inform American investors about the colorful opportunities in Business Process Outsourcing in Kosovo. The delegation also participated at the Balkan Leaders Summit. Organized annually on the 22nd of September, the Balkans Leaders Summit serves as a bridge between United States and the Balkans, as well as a means to facilitate commerce and investment between the two. The AmCham delegation was comprised of thirty-four participants, representatives of the private and pub-

Reception for US Embassy Economic Officers event held in October.

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lic sector in Kosovo. The delegation also participated at the National Albanian American Council (NAAC) 15th Annual Awards Gala held at the Gotham Hall in New York City. At this Gala the NAAC honored the former Prime Minister Tony Blair with the Hands of Hope Award for his historic contribution to Kosovo’s independence; and it posthumously honored the life of Ambassador Richard Holbrooke with the Lifetime Achievement Award for his exceptional diplomatic courage to bring peace to the Balkans.

4th of July BBQ Party AmCham celebrated this year’s US Independence day with a Picnic and BBQ Party. The party was held at the green gardens of Marigona Residence where the guests were entertained by the beats of Zanzi Band. Entertainment was also available for children who chose to accompany their parents. The end of the party was marked by fireworks in honor of the US Independence Day.

AmCham delegation visit to Dukagjini Group

Group, a Patron member at AmCham, hosted the delegation at their newly opened Dukagjini Hotel.

The visit was comprised of a dinner between the AmCham delegation and other guests of Dukagjini Group; and of visits to Dukagjini businesses and a group lunch in Rugova.

Member to Member Services event.

AmCham delegation visit to NewCo Ferronickeli NewCo Ferronikeli, a Patron member at AmCham, hosted a delegation of AmCham and CSR Network representatives, for a visit at the factory.

The visit was comprised of a meeting between the AmCham/CSR Network delegation and the senior management of NewCo Ferronickeli, in which meeting the senior management informed the delegation about activities at the factory, the company efforts in spiking up investment in order to protect the environment, and the processing of the nickel. In the second part of the visit the delegation visited the inside of the plant and the facilities of the factory. The end of the visit was marked by a group lunch at the New Co Ferronickeli cafeteria.

On December 18-19 AmCham led a delegation of its members for an overnight visit in Peja. Dukagjini The Horizon | February 2012

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Company Profiles (New members)

Rrota Rrota is a well established creative studio founded in 2001 by a team of professionally educated artists and IT consultants with the aim of knitting fresh ideas into advertising, graphic design and multimedia production. Rrota is the inspired habitat of 30 young people full of energy, ideas and enthusiasm.

Our inventive capacities encompass web development and design, graphic design, 3D visualization, multimedia and video production, conventional marketing and online advertising, as well as social network campaigns.

Rrota’s mission is to provide products and services in accordance with international standards, which are sustainable, innovative and customized to our customer’s needs.

For more info please visit: www.rrota.com

Sigma Accounting & Consulting + Sigma Accounting & Consulting was founded in June 2011. The services we are mainly concentrated in are accounting services and the preparation of all types of declarations. These services also include various consulting depending on the clients’ needs. A new offer will also be the auditing of companies. We are currently working on software where our clients can log in online and have access to all data required for the company and of course download the information if necessary. We are also compiling a tax balance system for every client; therefore there will be a quick and high general advance.

For more info please visit: www.sigma.ks.com

The Horizon | February 2012

AC-DC Kos + The ACDC Kos team consists of full-time economists, engineers, sales representatives and other staff. AC DC Kos hires employees on a part-time basis depending on project requirements. The variety of duties depends on the projects undertaken by the company. So far AC-DC has had projects with AAB Croatia, Matador Slovakia, Prodeco Check-Republic, and Skoda Export.

AC DC Kos wants to extend the spectrum of its activities to the other sectors. Based on the information provided above and taking into account the strong financial standing, good relations with banks and its services throughout Kosovo ACDC Kos strongly believes that we can represent and cooperate with other companies in different industries.

For more info please visit: http://www.acdckos.com

Exclusive Group Exclusive Group supports its operations through a well developed administration, information systems and marketing with in-house working teams. These units cover the needs of Exclusive Group units of logistics, information technology and marketing.

Logistics Every business unit of the organization has a well defined logistics, consisting of automotive fleets and warehouses. This system satisfies all the needs of supporting the sales through a very good coverage of the markets both in Kosovo and Albania.

Information Systems Exclusive Group has developed very good Information Systems, through a professional ERP of Microsoft Navision, which is the core of all business activities. Among others, this system is connected with PDAs that are used from

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the sales force and gives a much better response time in the market, and gives real time market data.

Marketing All market activites carried on the market by Exclusive Group, are supported by the marketing unit of the organization. This unit supports all the need of business units through a wide choice of advertising and marketing services; these services spans from media planning and buying, to launching of tailor made promotions and creation of diverse market analyses and reports.

For more info please visit: http://www.exclusive-team.com

Hotel Prishtina Hotel Prishtina is located within the heart of the city’s most important business district. Enter our hotel and be welcomed as a longtime friend. At downtown Prishtina hotel, you immediately find yourself at home in our living room, sipping a glass of wine in our fine restaurant , surrounded by our hotel’s gallery of paintings created by Kosova artists.

Just step out the door and you’ll find art galleries, bars, specialty shops, theaters and restaurants, all within walking distance. Our charming guest rooms and suites are reminiscent of a small hotel in the European tradition. Your day will begin with a complimentary continental breakfast, in the hotel’s restaurant… which can be used for intimate conversations, quiet reading or making new friendships.

For more info please visit: http://www.hotelprishtina.com/

NPG - New Promotion Group NPG Kosova might be a newly registered company in Kosovo but our team has been building experience working around the world. We offer know-how and creativity to maximize the potential of any marketing & communications project. NPG is a joint venture company established with Croatian sistercompany Merory&Rey agency, specialized in communication,

marketing and strategy consulting services.

For more info please visit: http://www.npgkosova.com/

VEV Group VEV Group is a specialized company for producing and distribution of café and water products. Our type of business includes but is not limited to Manufacture, Trade, Service, Organization, Retailer, Agent, and Sourcing Office. VEV has around 100 employees and the business scope consists of Agriculture & Food, Apparel & Accessories, Manufacturing & Processing Machinery, and Transportation.

For more info please visit: http://www.vevgroup.biz/

ARTA-VM Arta VM was founded in 2008 and it is specialized in international trading for construction materials. It is focused on export and import of construction machinery and equipment. By the end of the next year, ART VM seeks to expand the scope of business with trading construction materials within and outside of Kosova.

BKT Banka Kombëtare Tregtare was established in January 1993, after the merging of the Albanian Commercial Bank (ACB) and the National Bank of Albania (NBA). BKT accomplished its privatization process in the year 2000. The new highly-experienced shareholders and managers brought to BKT major transformations in 2001. The year 2006 started with a new vision for BKT. Main shareholders were International Finance Corporation (20%), European Bank for Reconstruction and Development (20%) and Calik-Seker Konsorsiyum Yatirim A.S. The Horizon | February 2012

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Company Profiles (New members) During 2006 – 2009, with its stable performance BKT is evaluated with different prices on national and international levels, among which several times as “The Best Bank of the Year” in Albania, “The best medium sized bank in Southeastern Europe” and also achieving its highest evaluation as “The Best Bank in South East Europe for 2009”. Meanwhile for two consecutive years JCR Eurasia Rating assigns to BKT a credit rating of ‘AAA (Alb)’ along with a ‘stable’ outlook on the long term national scale, which denotes the highest investment grade.

BKT network includes 83 branches out of which 60 are situated in Albania and 23 of them in Kosovo, making BKT the biggest Albanian bank in the region. Banka Kombëtare Tregtare (BKT) has been re-awarded as “Bank of the Year 2011 for Albania”

by The Banker, the banking sector’s magazine of Financial Times.

Metal Group Metal Group Company is the exclusive distributor for Kosovo and Albania for the German Company, Salamander Industrie Produkte, the producer of PVC profiles, Brugmann and Salamander. Our company is present in Kosovo’s market since 2009, and we supply 20% of producing companies which deal with the production of plastic (PVC) doors and windows.

Kerasan

BIRRARIA BREWERY

Birra Peja Birra Peja is privatized in July 2006 in 8a wave with special spin off method. Birra Peja in July 2006 had only one beer brand in three packages while in 2011, there are four beer brands in over 16 packages offered to its customers. Since 2010, Birra Peja started bottling the water from Drini i Bardh spring.

The water brand Akull in natural and carbonated versions is avaliable in the domestic market as well as in Albania. Since the privatization until April of 2010, over 25.5 million euros have been invested in new production lines, technology, energy, infrastructure and marketing as well as in the market.

The selling of the Birra Peja products in Kosovo is conducted through 15 biggest beverage distributors in 10 municipalities of Kosovo. All selling channel in Kosovo are covered with the presence of Birra Peja products whereas the presence coverage is 95%.

Birra Peja is also present strongly in Albania, Monte Negro, Macedonia and Bosnia while is also present in EU countries. Birra Peja also made export to USA and Canada and was first product from Kosovo that was officially imported in America. Birra Peja owners and management are determined to further develop the brewery, make further investments in order to maintain the trend with world known producers and increase its assortment and penetrate new markets.

Kerasan is a company with a strong background in the field of bathroom equipment and installations in general. Operating since 1994, it is is very good positioned in the market.

Today Kerasan represents high quality brands from Europe such Porcelanosa grupo from Spain, Hansgrohe, Duravit, Hueppe, Schell, TE-CE from Germany, Jacuzzi, Teuco, Flaminia from Italy etc.

Working with architects and designers has been a pleasure for us lately.

[i] The Horizon | February 2012

The qualifications made herein have been made by the Companies themselves and they do not represent the opinions and position of the American Chamber of Commerce in Kosovo.

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The Horizon | February 2012