Businesses close, unemployment grows

Businesses close, unemployment grows

Pristina, February 20, 2015/Independent Balkan News Agency

By Elton Tota

Kosovo Business Agency (KBA) expresses its concern about the shutting down of businesses in Kosovo as a result of inadequate tax policies and high corruption in the country.

Head of KBA, Agim Shahini declared today in a news conference that last year alone, there were 39 foreign companies that have shut down.

“The country now has less than 100 foreign companies. In the past five years, around 13 thousand jobs have been lost due to businesses being closed. The reasons relate to inadequate tax policies, corruption, high interest rates, monopolies, expensive electricity and the difficulty of free movement in European countries”, declared Shahini.

Commenting this phenomenon, the head of the Kosovo Chamber Commerce, Safet Gerxhaliu said that the figures are worrying and according to him, this was reflected with the “exodus”.

Gerxhaliu says that if production is not stimulated, then these investors too will be lost.

Arian Zeka from the American Chamber of Commerce says that they have not seen progress in the law and order and this means that no well known brands will come to Kosovo to invest.

The procedures to shut down a business are more complicated than the procedures for the registration of new businesses.

The official website of the Agency for the Registration of Businesses, indicates the necessary documents for the closing of individual businesses or general partnerships.

In order to shut down a corporation, 10 different documents are required. /ibna/