Corruption and high interest rates are keeping investors away

Corruption and high interest rates are keeping investors away

Pristina, March 23, 2015/Independent Balkan News Agency

By Elton Tota

Corruption and rule of law, high electricity prices and high bank interest rates were some of the complaints articulated today by representatives of businesses in the parliamentary committee for economic development, during the debate on the law on foreign investments.

The members of the committee said that these complaints will be incorporated in the law on foreign investments.

One of the recommendations of the committee for economic development was also the transfer of the Agency for Foreign Investments from the Ministry of Commerce to the prime minister’s office.

Meanwhile, Lumnije Hashani, representative of Kosovo Chamber of Commerce, has demanded a unique law which will help in overcoming bureaucracies. She has demanded for all the demands of the business sector to be incorporated in the law.

Meanwhile, businessman Islam Pacolli said that the development of the country will come by offering concessions for domestic produces and by lifting customs fees and VAT.

Meanwhile, Arian Beu, representative of the American Hospital in Kosovo said that he has seen hesitation on the part of the government to issue a permit in the construction of the hospital and that these difficulties are unacceptable for them.

Pal Lekaj, member of the commission said that there are not many complaints about the existing law and the favoring of investments.

Dardan Abazi from the Institute for Development Policies said that the law must include the fight against crime and corruption.

Meanwhile, the vice chairman of the committee for economic development, Besim Beqaj said that all concerns will be addressed. /ibna/