Wednesday, September 21, 2005

In the News: Kosovo Among Most Business Friendly Counties

Good news for foreign investment…there is usually precious little of it.


PRISTINA (Serbia and Montenegro), September 19 (SeeNews) - The business environment of the U.N.-run southern Serbian province of Kosovo is ranking among the most friendly in Eastern Europe in a study based on the World Bank's Doing Business Index, the U.S. office in Pristina said on Monday.

The study was prepared by the Kosovo-based economic research company Integra under the direction of the Kosovo Cluster and Business Support (KSCB) project, which is financed by the U.S. Agency for International Development (USAID), the U.S. office said in a statement.

"This report will encourage much needed foreign investment by educating the global markets as to the true nature of Kosovo's business environment. It also gives policymakers and business interest groups better intelligence as to where they should focus their efforts for future improvements," the USAID's Kosovo mission director, Ken Yamashita, said in the statement.

The World Bank's doing business index ranks 155 economies worldwide. The report tracks a set of regulatory indicators related to business startup, operation, trade, payment of taxes, and closure by measuring the time and cost associated with various government requirements.

Kosovo, legally part of Serbia and Montenegro, was put under U.N. administration in 1999 following NATO bombings on Serbia to halt Serb repression of the ethnic Albanian majority in the province.

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