Issue 9

Kosovo Business Journal the offical newsletter of amchamksv.org Issue 9 // January 2009 // Prishtina, Kosovo

“End of Year” 3 Activity and Exhibition “Preventing Child Labor” Workshop on Export held Conference on “Impact of Corruption on Kosovo’s Business Community” Republic of Kosova becomes part of the U.S. Generalized System of Preferences (GSP) Staff Changes at AmCham Kosovo Competition and Market in Pharmaceutical business in Kosovo

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Kosovo Business Journal

Editorial

Mimoza Kusari - Lila

Dear company members and friends of AmCham Kosovo , Here we are together again at the beginning of a new year 2009. A new 2009 came not only for Kosovo, but also for the rest of the world as a very challenging and important year. But, first let us look back to the 2008 and its challenges.

For more than anyone else, for us Kosovars , 2008 marked the history, a year when Kosova declared its independence and Kosovo’s constitution entered into force. It was the will of the people of Kosovo and the support of all our friends to make 2008 a historic year. But, for Kosovo’s economy challenges have just entered into a high speed road. Independence has created a new legal reality that was not necessarily welcomed by all of our neighboring countries, which presented a challenge and an obstacle for the business community operating here. Implementation of CEFTA and other regional treaties signed on Kosovo’s behalf previously by UNMIK, raised many question marks and started failing on implementation after Kosovo’s declaration of independence. We could only wished for a more planed and coordinated action from Kosovo’s Government and international institutions working in Kosovo in this regard. Kosovo’s constitution

has been challenged almost from the first day it entered in force. I guess we were convinced that independence alone is not going to make all of our previous problems go away just like that.

Kosovo, send a BIG THANK YOU to all our Patron, Corporate, Business and Individual company members and our sponsors and Donors. You are the most valuable asset AmCham Kosovo has.

We at AmCham Kosovo, have worked to the best of our abilities to assist business community: we have offered B2B opportunity with businesses from Albania, have organized a fifth Career Fair, opened the opportunity to our business leaders to participate at the International Franchise Expo in DC and investment conference in Ljubljana. We awarded for the third time Best and most Regular Taxpayers of the Kosovo Budget and we presented delays in the Privatization Process and costs associated with this delay. We analyzed and presented the Impact of Corruption on the Business Community and organized series of the Quality Standards Workshops and Export workshop. We have applied for the second time and hopefully in 2009 we will become a fully fledged member of the European Council of the American Chambers of Commerce. We have concluded the year with offering all of our support for the Prevention of Child Labor with International Labor Organization.

None of this could have been possible without your direct support and encouragement. So, we at AmCham

Changes for the business community are not coming as fast as expected: we are still trying hard to make Kosovo’s independence function, and we are certain that it will take years to come, until we have a functioning economy. One very positive step current Government has taken is fiscal reforms. The new fiscal regime, lobbied for quite long time by the business community entered into force on January 1, 2009. It offers Kosovo a good competitive advantage with countries in the region and it will also serve as a safeguard to business in the light of the new economic crisis. We congratulate the Government on the action and we hope to have more progressive decisions in 2009.

One thing we know for sure, jointly, we can overcome obstacles and only with leadership and progressive actions, we can re-build bridges with our neighbors and countries in the region.

Cheers to the New 2009 and we look forward working with you all.

Mimoza

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Kosovo Business Journal

“End of Year” Activity and Exhibition “Preventing Child Labor” The American Chamber of Commerce in cooperation with the International Labour Office held the “End of Year” event, which marked the season’s holidays and the end of AmCham’s activities for 2008.

At the same time, a photography

exhibition

titled:

“Against Child Labor” covered the walls of the Reception Hall in hopes of raising awareness to the public and the business community on this phenomenon which continues to be

Ultimately, the goal of the

will continue to be a grim fu-

representatives affair was to mark the end of from governmental institutions 2008 with an inspiring picture and business community par- of what child labor & exploi-

ture for up and coming genera-

present in our society.

Numerous

tions.

The official opening speech

ticipated in this event. “End of

tation looks like and to com-

members of ILO.

through out our society there she touched on the dark and

Year” event was organized by mence 2009 with that in mind. was given by the Executive DiAmCham in cooperation with If awareness is not diffused rector Mimoza Kusari where

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Kosovo Business Journal gloomy photographs of these icated to the cruel daily lives of and other dangerous areas. children, followed by the UN-

these troubled children who are

DP’s Resident Representative/ forced to work in catastrophic Coordinator Frode Mauring. conditions, Mr. Mauring held a speech ded-

digging

In continuation, the evening

through carried on with a cocktail hour

dumpsters, construction sites while adorable children dressed in Santa costumes played instruments (the piano and the violin) and others sang in a choir for

Workshop

on Export held American Chamber of Commerce in Kosovo, as an organization, represents the interests of Business community and in the same time strives to improve the general business environment in Kosovo and help businesses to become more competitive while

applying well-known product/ service quality standards. One relevant issue for the business community is also the export of products outside of Kosovo and the problems that they are facing toward achieving this goal.

As a continuation of the Project “Supporting the Involvement of the Business Community in Kosovo’s EU Integration Process” supported by Kosovo Foundation for Open Society, and after helding the two day Workshop on “EU Quality Standards” back in

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Kosovo Business Journal October, AmCham organized the Workshop on “Export” in order to inform the Kosovo business community what are the advantages of trading with the EU countries and how we can enhance the Kosovo Foreign Trade. At the same time, a brochure on Kosovo’s Export with figures and data for the period 2004 - September 2008 prepared by Custom Authorities and AmCham was published. be the main exporting element.

The agenda for the workshop included presentations by governmental officials, experts on economic issues and importance of exports, representatives from organization active in Kosovo which strive to help the businesses in branding and exporting their products outside Kosovo, questions & answers sessions as well as an exchange of opinions between the businesses and presenters which spurred a constructive debate on understanding the importance and problems in exporting.

The representative from the Ministry of Trade and Industry Mr. Hafiz Gara had kind words for this workshop. Mr. Gara said that similar workshops to this one organized by AmCham Kosovo add value to the work carried on by the government and business community in understanding and helping businesses to increase their efficiency and export their products abroad.

The audience and several members of the business community called on the government of Kosovo to repeal the The agenda for the first day VAT on exported services. of the workshop kicked off with the opening remarks held by MiThe first presenter of the workmoza Kusari Lila, AmCham Ko- shop was Mr. Bedri Abdyli from sovo Director. Mrs. Kusari – Lila the Custom Authority who prowent over the figures on Kosovo vided the audience with numbers Export for the period 2004-2008 and figures on Kosovo’s Trade while stating that it is a sad fact Exchange. Mr. Abdyli stated that that although Kosovo potential Kosovo has experienced an inis quite high, it exports very little crease in exports, although in real while the scrap metal continues to

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terms, the exports covers only 6% of the imports. He pointed out that main categories of products which Kosovo exports the most include base metals and articles of base metal which comprise of 46% of the exports followed by mineral products with 11 % and Prepared Foodstuffs; Beverages, Spirits and Vinegar; Tobacco and Manufactured Tobacco Substitutes with about 9%. Mr. Abdyli stated that regional countries with which Kosovo exports the most include Macedonia with 27.7 % and Albania with 26.7%; European countries to which Kosovo exports the most include Switzerland, Italy, Greece, Slovenia, and Germany.

The representative from the Ministry of Trade and Industry Mr. Izer Arifi talked about the legal environment for exports and how government of Kosovo is assisting the businesses in exporting their products. Mr. Arifi stressed out that the legal

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Kosovo Business Journal environment is quite favorable for exporting while several departments within the Ministry of Trade and Industry and other ministries assist the businesses in exporting. He stated that there is no VAT charged on exporting products outside Kosovo whereas businesses exporting services are charged with VAT. Mr. Arifi said that the Ministry is encouraging the businesses to be focused more on exporting technology rather than goods.

Hajdar Korbi, economic expert from the Ministry of Economy and Finance elaborated on the topic: Kosovo Foreign Trade – The Impact and Implications of the Trade Deficit and ways how Kosovo can reduce this deficit.

Korbi reveled that the negative trade balance of Kosovo is about 40% of the GDP. He went one to mention which are the main sources of financing the trade deficit such as remittances from Kosovars living abroad, foreign investments and donations. Mr. Korbi stated that all these instruments are not directly controlled by the government.

He went one to explain that high deficit of Kosovo means lower savings and when we save less, the interest rates are higher. This results in fewer investments and less economic growth. Currently, consumption is high, prices are

hiking which result on higher to export. On the other hands, imports, greatly contributing to there are quite a large number of the increase of deficit. problems for the companies who are currently exporting from KoEkrem Hoxha from the EBRD sovo. Paperwork burdensome TAM/BAS Programme Team ex- for the businesses, problems with plained to the audience how this Customs in Macedonia and othorganization is providing Ko- er regional countries are really sovo businesses with assistance complicating the life for Kosovo in branding their products. He businesses. However, Mr. Rexha stressed out the importance of mentioned that within the Minpromotion and marketing in ex- istry of Trade, there are departport. Mr. Hoxha did confirm that ments which strive to solve these TAM/BAS Programme is going problems. to support individual companies with standard support package At the end of workshop, the as well as Exporter Training Pro- representative from McCroft grammes. He stated that more Tobbaco talked about the chaltraining and certification of local lenges, obstacles, and opporprofessional consultants (Busi- tunities in exporting products. ness Service Providers) need to He elaborated on the issue how take place while Preparation of Kosovo businesses are being Export Planner is a necessity. treated unfairly by Macedonian authorities which have resulted Igballe Rexha from the Minis- in termination of contracts by try of Trade and Industry focused third parties because of delays on the Regional Agreement on on delivery of goods due to buFree Trade - CEFTA while talk- reaucracy. Other representatives ing about the pros and cons of from the businesses community this agreement. Mrs. Rexha said also talked about their problems that CEFTA is one of the possi- faced while exporting. They bilities to be fully economically urged the government to take integrated regionally while it these problems into account and makes possible for the Kosovo to solve them as soon as possible. harmonize its policies and regulations with those of EU. Another The cocktail served after the advantage that CEFTA provides closing of the workshop for the for Kosovo businesses is the cre- participants, served for refreshation of a market with 20 million ment while the discussion on expeople – making the pie much ports continued even after that. bigger for businesses that wants

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Kosovo Business Journal

Conference on “Impact of Corruption on Kosovo’s Business Community” The American Chamber of Commerce in Kosovo, strongly supported by the United States Embassy in Kosovo, held on November 6th, 2008, the Conference “Corruption Impact on Kosovo’s Business Community” where results from the research study with 550 companies, 50 being from the Serbian community, were presented. The purpose of the project was to assess the potential losses of Kosovo economy from corruption and bribe.

Present in the conference were the deputy Prime Minister of Kosovo, officials from the Ministry of Internal Affairs, Kosovo AntiCorruption Agency as well as representatives from US Embassy in

Kosovo, USAID, AmCham Kosovo members and other businesses and representatives of Kosovo business associations.

action taken by the civil society to tackle this issue. Mr. Kuqi stated that the judiciary as well as the citizens need to cooperate more with the authorities in order to report The conference kicked off with corruption and be able to reduce the opening remarks held by Mi- the affects that this phenomenon is moza Kusari Lila, AmCham Ko- having on Kosovo’s businesses as sovo Director. Mrs. Kusari – Lila well as on Kosovo’s society. emphasized the dreadful impact that corruption is having on KosoThe Political Adviser of the vo’s economy while articulated the Internal Affairs’ Minister, Ismail main findings from the research Kastrati stated that his Ministry is study. taking firm actions in combating corruption while it urged instituDeputy Prime Minister of Ko- tions and citizens for greater coopsova, Mr. Hajredin Kuqi had kind eration. words for this conference. Mr. Kuqi said that the government of The Director of Kosovo AntiKosovo is keen in combating cor- Corruption Agency Mr. Hasan ruption while it applauds every Preteni said that the level of cor-

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Kosovo Business Journal ruption in Kosovo is quite high while stated that the Agency is working hard to combat this phenomenon and encourage the citizens to report it.

“Whistle Blowers” should be motivated to report corrupt actions through financial rewards and guaranteed security.

Presentation of the report “Impact of Corruption on Kosovo’s Busines Community and Recommendations for the Kosovo Institutions” was conducted by Mr. Kushtrim Shaipi.

The main results from the research are as following: Corruption appears to be a wide-spread phenomenon in post-independence Kosovo.

While corrupt behavior has been an ongoing problem for many years, including the period of the declaration of independence and the full transfer of competencies to the hands of the Kosovo government, the results obtained in the Survey indicate that the phenomenon has intensified in frequency since February 2008.

The data obtained from the research indicate that corruptive behavior represents a mutually beneficial situation for both the business community and the corrupt officials. In such circumstances, one cannot expect that either of the parties is interested in changing the situation. This aspect makes it really difficult to fight the phenomenon, as it indirectly means that intervention or pressure by a third party is necessary to break the cycle of corruption that risks becoming an acceptable norm for doing business in Kosovo.

having offered bribes in the past.

Moreover, businesses perceive that the business-enabling environment in Kosovo is not very favorable.

If something is not done urgently, corruption may become an acceptable, ethical norm of conducting business in Kosovo.

A lengthy list of problematic institutions and a considerably shorter list of efficient institutions magnify the problem that is the grounds for the perceptions about the business-enabling environment in Kosovo. It appears that acceptance of corruption depends on the size of businesses -- larger businesses tend to have less critical attitudes towards this The role of both the media phenomenon, despite the fact that and civil society in fighting cor- they claim to encounter it more ruption becomes increasingly frequently. important when taking into ac- The survey data indica te that corcount that corruption works in ruption w orks in favor of larg er favor of both businesses and in- businesses and that they tend to stitutional officials. Only by ef- be less critical of the phenomfectively exercising pressure on enon. the government can momentum be achieved and the government forced to strengthen the rule of law and combat corruption.

While there is no conclusive evidence to support the claim that the institutions of Kosovo have behaved less responsibly since the declaration of independence, it is certain, however, that corruption has been present throughout the post-war period. Such a situation is not very surprising as it has been proven empirically in other countries that transition peThe data from the Survey inriods always provide favorable conditions for the development dicate that the dimension and reach of the problem is alarmof corruption. ing as over 66% of respondents directly, or indirectly, admit to

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Kosovo Business Journal

Republic of Kosova becomes part of the U.S. Generalized System of Preferences (GSP) The latest decision by ex U.S. President George W. Bush to include Republic of Kosova into the U.S. Generalized System of Preferences (GSP), a program designed to promote economic growth in the developing world which provides preferential duty-free entry for more than 4,650 products from 131 designated beneficiary countries and territories, comes as a very good news for all Kosovar companies who are going to export to the United States beginning this January.

publication on Export last month reveals that exports to U.S. represent just 0.05% on average (for the period 2004-2008) of the total Kosova’s products exported outside. It is believed that the aforementioned economic measures are going to aid the increase in Kosova’s export to the U.S. and enhance the total economic development of our country while the duty free entry for numerous products will serve as an incentive for the Kosovar companies to focus more on export.

The decision by U.S. Government is also a For more information on the program and the positive signal regarding the strong political and list of products, please visit our website: www. economic relations that are in place between the amchamksv.org or contact one of our staff memUnited States and Republic of Kosova. AmCham bers.

Staff Changes at AmCham Kosovo Beginning this January, several staff

In order to better implement our activi-

changes have taken place at the American

ties and our objectives as well as be more

Chamber of Commerce in Kosovo.

devoted to the needs of our members and all business community, AmCham has hired

The executive director of AmCham Koso-

two new staff members.

vo, Mimoza Kusari Lila will be in Fulbright research in the United Stated for a period of

Kushtrim Shaipi has joined AmCham

three and a half months; however, she will Kosovo as Business Coordinator while Besa be pretty much involved in AmCham ongo- Haxhaj has taken the position of Executive ing activities.

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Assistant.

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Kosovo Business Journal

Draft Calendar of Events for year 2009 EVENTS

OPEN FOR:

JANUARY 2009 5th General Assembly

All Members

Donor coordination on PSD (DFID project) FEBRUARY 2009 Networking and Promotion Event

All Members

Energy and Mining Presentation on behalf of KRC B2B with AmCham Macedonia

MARCH 2009 Forum Discussion on trade relations with US

All Members

Roundtable with Tax and Customs Authorities

All Members

(Implementing of new tax regime)

All Members

APRIL 2009 Spring Career Fair

All Members

Forum Discussion on the Intellectual Property Right in Kosovo

All Members

Visit to the US – To be announced All Members MAY 2009 Conference on CEFTA Impact

All Members

Forum on Kosovo Legislation

All Members

Joint activity with ECIKS

All Members

MoU with Kosovo Customs JUNE 2009 The Most Regular Taxpayers Ceremony Networking and Promotion Event

© AmChamKSV 2008 Calendar of Events

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Kosovo Business Journal

Competition and Market in Pharmaceutical business in Kosovo

Mr.ph.Arianit Jakupi

Health is one of the most sensitive issues one might have.

But also is a business where millions and millions of euro are spent for discovering new drugs. Research and development and other processes related to drugs up until the approval by the regulatory authorities which leads to selling, at the end it is called drug discovery but can be called also – business.

With business comes also competition which enforces companies for finding ways to promote their products or services.

The Health Insurance system is not established yet, and this brings many problems and difficulties to people. The reimbursement of the drugs is not implemented and it is expected for year 2009. Ministry of Health data (2008) show that last year 2007 the Ministry had a budget of approximately €60 million while private sector, pharmacies and wholesale companies sell medications worth €35-40 million to the population in one year.

It is constituted after the war of 1999 in Kosovo. As a part of Ministry of Health the agency holds the right of all regulation processes on MICRO ENVIRONMENT ANALYSIS pharmaceutical and medicinal area. KMA coorThe Ministry of Health dinates the evaluation and supervision of all meEvery year announces special tenders for pro- dicinal products based on regulations of EMEA curing drug, and these tenders are divided by (European Medicines Agency).

In 2008 it is expected to start work main labothe specialty of drugs like cytostatics, vaccines, medicinal consumables and drugs. The Ministry ratory for quality control of medicinal products. provides these drugs for the needs of the Health One very important issue related with the laboratory for quality control of the medicinal products Care Systems all over Kosovo. is also the existence in Kosovo market of prodthe offical newsletter of amchamksv.org

Kosovo Business Journal ucts with unknown history, quality, and with no evidence of accuracy of the dose prescribed on the label – which can be prevented by results of the laboratory.

Hospitals Kosovo has seven regional hospitals and the main hospital is University Clinical Centre of Kosovo located in Pristine which is the biggest in Kosovo. From last year (2007) the University Clinical Centre of Kosovo has its own budget decentralized from the Ministry of Health. Due to a low budget of the Clinical Centre there is a very unacceptable situation when it comes to drugs where patients are “forced” to go in a pharmacy and in many cases to by even sutures. As a conclusion of this situation a Health insurance system would improve the quality of services at least indirectly.

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by KMA which is implementing a system where all banderoles of drugs will show also the price of the medication what will stop the desirability of having “large margins”. Another project of the KMA is also facilitation of the procedures of registering drugs in Agency.

Company share in Kosovo In the private sector with medications the

Pharmacies There are around 350 private owned pharma- manufacturers from former Yugoslavia are domcies and 50 wholesale companies which operate inant. Approximate sum which is spent is €15 in Kosovo market. Kosovo Medicines Agency million as seen in the graph below: (2008).

Import of Drugs from other companies plays Up till now there is no computerized network also an important role with approximately €20 system which links pharmacies with Medicine million. The Import of drugs in general is obligaAgency but it is expected to be as one of the up- tory because there is only one manufacturer in coming projects. When it comes to pharmacies Kosovo and with a very small number of prodthere is a lot to tell but there are signs of hav- ucts. ing a strict control of the prices in pharmacies Operating structure of the companies in Kosovo – calls and brings to pharmacy lists The companies in Kosovo operate in a very fast call-delivery system which ensures that right after a call the request will be carried out, and delivered in a very short time, which is very important when we have to deal with drugs - human health.

This is also important as a service that the company provides to its customers.

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Kosovo Business Journal

Customer satisfaction is one of the primary reasons for every business opportunity, quality of the deliverables and services that we provide are the prime factors to determine the level of the customer satisfaction. Prahbakar A. (2007).

The pharmaceutical industry is very complex because it has to deal with people and one of crucial reasons that they can not be satisfied is from adverse effects of a drug which is very serious

in between, another problematic situation that is merely taken care of. Since Kosovo has a very young population, 75% of people are under the because it can lead to death. This means that the age of 35, every year there is a high number of drug must have a history to be accepted first by people that it is added to a total of unemployed doctors but also by people. This shows also the people which according to data from statistical importance of a brand name. office of Kosovo are approximately 45% compared to unemployment rate of European Union ANALYSIS OF THE MACRO 8.3%, of Euro zone 9.0% and of U.S. 3.9%. PalENVIRONMENT ley Th. (2006).

Kosovo has approximately 2.1 million inhabitants. It is one of the poorest Balkan countries COMPETITIVE STRATEGIES USED with high unemployment rate 45-55% with fragile infrastructure and with an average monthly According to Porter (1998) there are five facincome of €200. Statistical Office of Kosovo tors that determine - or driving forces of the In(2008). dustry Competition. In Kosovo the one that has Kosovo’s economy is small, highly open with more influence on this competition is bargaining imports being around 60% of GDP and with a power of buyers which is very low due to the very high level of inflows from sources like re- low income and high unemployment rates, this mittances from diaspora. From the international factor determines also at a significant level the resources there are a lot of investments e.g. The financial analyses, price calculations as well as World Bank has committed over $116 million to drug demand. But even that the low bargaining Kosovo since the end of the conflict in 1999 with power of buyers exists there is also a “brand” all assistance provided on a grant basis, and with factor that affects people when dealing with around €2 billion from donations for country re- these kinds of products. This type of strategy is construction. World Bank (2008) defined by Porter (1998) as differentiation when The GDP parameters in Kosovo are very low as shown below: Health is in a very difficult condition due to the low budget. 37% of the population lives on less than €1.42 per day, 15% on less than €0.93.

International Conference Ljubljana (2006).

Unemployment Poverty and unemployment are close linked the offical newsletter of amchamksv.org

offering the product or service creating something that is perceived industry wide as being unique. This strategy is used only at a few pharmaceutical companies in Kosovo.

In the meantime, many companies use a different strategy providing very cheap products with low quality but in the case of Kosovo in these last nine years with non functioning labo-

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ratory for control of the quality and with the poverty that people have they are doing a business that can be compared with the differentiation strategy one. But in long term view it does not work for drugs to have a low quality (i.e. no effect or toxic effect)

It should be clear that with drugs we have to be very careful because the quality at all matters is the first and the only condition that we have to fulfill before providing it to patients.

In the long run building a name which promotes the best quality, by assuming that the better days will come and with the increase of the GDP CONCLUSIONS per capita in Kosovo, the family budget would be increased too, which translated in language of Patients, doctors and medical staff within a pharmaceuticals business would actually mean period of time would get to know the differences moving toward quality - toward health. between the companies, and the trust they have built for a company can be taken off only if the company management decides to change toward using other strategy.

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Special thanks to: American School of Kosova • AGANI Ltd • ANTIKA • ASGETO Shpend Luzha • AUK • Banka Ekonomike • BEJTA Commerce • BONUS BOGA&ASSOCIATES • British Airways • Buçaj Sh.p.k.

BSB Company • CEO • Coca Cola HBC Kosovo L.L.C • COMPAKT GROUP CONIN • Deloitte • Devolli Company • Dukagjini Group • ECOTRADE ELTING • FEKI • Gllareva • Gorenje Niti Tiki • Grant Thornton Enver Sahiti • Ilir Kosova • Linda Shala • Gail Warrander Safet Dorambari • Diamant Rrahmani • INFORMATIKA Computers sh.p.k KALO&ASSOCIATES KOSOVE shpk. • Kosova Steel KPMG • Kosovo Resource Company LLC • KONET • Login Systems Kosova sh.p.k MARIGONA RESIDENCE • McCroft Tobacco Kosovo LLC MDA • Meridian • Microsoft • New Kosovo Energy LLC NewCo Ferronikeli Complex LLC • NewCo AROMATIK L.L.C. NLB Prishtina • Pestova • PharmaSwiss SA, Sh.p.k Procredit Bank • PRONET • Propharm Helvetica Raiffeisen Bank • RIALKO Company • RIMA Eng. Royal Iliria University • RWE Power Kosovo LLC • Scan Color & Jysk Sharr Beteiligungs GmbH • SIGAL • SOLE KOSOVA Triangle General Contractors Inc • TEB • UBT • Washington Group International Western Union • Xella GZG Lipjan L.L.C • Shridev Sharma • Xheladin Zeka Sport In • Zero Pozitive Publicis

American Chamber of Commerce in Kosovo Gustav Majer STR. No 6 Prishtina, Kosovo, 10,000 Phone: 038 246012 Fax: 038 248012 e-mail: newsletter@amchamksv.org www.amchamksv.org Executive Director: Mimoza Kusari – Lila Coordinator: Mentor Mehmeti Prepared by: AmCham Kosovo staff Design: ashagraphics.com for comments and suggestions, please write us at: kbj@amchamksv.org