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Legal Framework in Kosovo
Regulations The Commercial Law Development Group within the Ministry of Trade and Industry (MTI) and KTA are responsible for the preparation of Regulations and Administrative Orders to provide Kosovo with a workable body of law to enable its economy to function according to Western, free market principles. So far nine Regulations have been adopted in the Commercial sphere, these are the regulations on Foreign Investment, Business Organisations, Contracts for the Sale of Goods, Pledges, Insurance Regulation and Supervision, Payment Transactions, Essential Labour Law, Standards for Financial Reporting and Establishment of a Pledge Filing Office. Foreign Investment Business Organisations, Contracts for the Sale of Goods, Pledges, Insurance Regulation and Supervision, Payment Transactions, Essential Labour Law, Standards for Financial Reporting and Establishment of a Pledge Filing Office. Foreign Investment: The purpose of this regulation is to put in place certain legal guarantees that are necessary to encourage foreign investment in Kosovo. The most important provisions in the regulation provide that: ● Foreign investments will be governed by the principle of national treatment, meaning that they will be treated no less favourably than similar domestic enterprises; Foreign investments will be protected against unreasonable expropriations; ● Income from foreign investment may be freely transferred abroad and otherwise used in an unrestricted manner; Foreign Investments are protected against retroactive application of laws; ● Foreign investors are able to employ foreign nationals The Business Organisations Regulation establishes the ways in which businesses can be organised and registered. The Pledge Regulation has been prepared in order to give Kosovo a modern law regulating all forms of secured transactions. Contracts for the Sale of Goods is a regulation that only covers sales law; it does not cover all areas of contract. It is based on the Vienna Sales Convention. In the coming months it is expected that Regulations on Bankruptcy, Mortgage, Protection of Competition and Intellectual Property will be adopted. Good Corporate Governance In terms of Good Corporate Governance the Standards for Financial Reporting Regulation has been instated and is entirely compatible with the internationally accepted accounting and auditing standards issued by the International Accounting Standards Committee (IASC) and the International Auditing Practices Committee (IAPC) of the International Federation of Accountants
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Jesus beat the devil with two sticks. Colossian 2:13,15 Proud American! Communism/Socialism is similar to legalizing burglary and murder! |
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Now lets talk facts:
Kosovo is one of the poorest regions in Europe, with Kosovo having a per capita income estimated at 1500 euro (2006).[1] Despite substantial development subsidies Kosovo was the poorest province of the former Yugoslavia.[2] Over the course of the 1990s, poor economic policies, international sanctions, weak access to external trade and finance, and ethnic conflict severely damaged the already weak economy.[3] Kosovo's economy remains weak. After increases in 2000 and 2001, growth in GDP was negative in 2002 and 2003 and is expected to be around 3 percent 2004-2005, with domestic sources of growth unable to compensate for the declining foreign assistance. Inflation is low, while the budget posted a deficit for the first time in 2004. Kosovo has high external deficits. In 2004, the deficit of the balance of goods and services was close to 70 percent of GDP. Remittances from persons living abroad account for an estimated 13 percent of GDP, and foreign assistance for around 34 percent of GDP.[4] |
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Last edited by xDonnax; 04-12-2008 at 04:52 AM. |
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Kosova is poor, yes; but that's cause it has never been given the chance to florish. That however has been changed. Slowly but surly, it'll be on its feet.
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the new Parliament of Republic of Kosovo:
![]() New Prishtina Financial District ![]() new tower to be built in the end of 2008 ![]()
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Jesus beat the devil with two sticks. Colossian 2:13,15 Proud American! Communism/Socialism is similar to legalizing burglary and murder! Last edited by TrueAlbo2006; 04-12-2008 at 08:33 PM. |
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Kosovo begins highway construction
The Ministry of Transportation and Post-Telecommunication opened the season of construction for the roads in the Republic of Kosovo. The first construction along the Prishtina-Lipjan highway was very difficult for some private companies, who had tried to build their business edifices close to the road. The bulldozers ordered by the Ministry of Transportation and Post-Telecommunication have started work to level all the spaces on the way of the Prishtina-Lipjan highway. All the businesses that have been built along the stretch of the road in question have been taken over, and none of the owners have complained, except two or three of them. But when the Minister of Transportation, Fatmir Limaj showed up they left. Limaj along with his cabinet and the managers of the construction companies have overseen the terrain where the work is taking place for the expansion of the highway, which is due by the beginning of July. After the expansion of this highway it will continue from Lipjan to Han i Elezit near the border crossing with Macedonia. The entire project will cost five million Euros. “Today, MTPT is starting the work season with investments, both on the highways and regional roads, or even the roads that already exist in co-investment with the municipalities”, stated Minister Limaj. Limaj promised that under his leadership of the ministry there will be an increased intensity of these projects with a “quality not seen so far.” The demolition of these spaces Limaj considers is in the interest of the citizens of Kosovo in general. He also added that MTPT has done all the preparations for the re-layering of all other highways in Kosovo with work on that to start very soon. “I promise that there will be quality and dynamism very different from that shown so far,” stated Limaj. The construction companies have also promised that they will perform all the work in time and in the manner that has been contracted. The minister of transport acknowledged that there have been requests for the work to continue at night, so that the citizens will not face obstacles to their traffic. “The people that have taken over these project will answer if there will be any mistake in the expansion and fixing of these roads. I call on all citizens to try or that have taken the public spaces to leave this land, because this is a public property, and this land has the right owner which is the state of the Republic of Kosovo,” said Limaj. The managers of the construction companies have spoken about small incidents with the owners of these businesses, whose space has been taken from them. But overall they are still very happy with the progress the work is going.
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Jesus beat the devil with two sticks. Colossian 2:13,15 Proud American! Communism/Socialism is similar to legalizing burglary and murder! Last edited by TrueAlbo2006; 04-14-2008 at 07:58 PM. |
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