Speech by SRSG Joachim Ruecker At International Investors’ Conference
Pristina, 10 October 2006
Mr. President, Mr. Prime Minister, ministers, distinguished guests from the international community, from our neighborhood, in particular dear potential investors. It is a pleasure to be here today and to greet you for this important conference.As we all know, Kosovo sits on 45% of Europe’s lignite deposits and is therefore extremely, extremely well placed to be a significant electricity producer for an increasingly energy hungry region.
In Kosovo, energy is a key sector with high growth and job potential. We also need increased security of power supply. And we all know that Kosovo can be a least-cost producer with reasonable technology, with clean coal technology.
Based on the Kosovo Energy Strategy that was approved in the Assembly in late 2005, UNMIK and PISG are endeavouring to create a favorable investment climate to enable qualified strategic investors, through a transparent selection, to participate in the development of Kosovo’s lignite mining and power generation in a manner conforming with EU standards and in a manner conforming with environmental and social standards in particular.
Under the Kosovo Energy Strategy, action is necessary to restructure the lignite mining business so as to foster its operation on a commercial basis by the end of the year 2007. It is a view held by all of us that investors can be offered an integrated mining and power investment opportunity, including both new and existing mine and power plants, as you have read it in the expression of interest.
As regards the political situation of Kosovo, we are entering into a new stage. As you know, Kosovo is under the process where its final political status is to be determined by UN Special Envoy, Marti Ahtisaari. And I think it is fair to say that Kosovo is also in political sense a place full of energy and a place full of hope. And this is also what applies to today's conference.
The legal basis on which we are standing in our economic endeavors and our economic development is firm. Kosovo has a very good legal basis, both legally with laws and institutionally for a functioning market economy. It has independent regulators, and it is an absolute certainty that the international community will make sure that this present legal basis is transferred into the new status that is basically around the corner. So you can be assured that this is a given.
We also conduct here in Kosovo a fairly successful privatisation program and I understand that over lunchtime I will have the opportunity to address you a little bit more about this, just to give you an idea how safe and how secure your investment will be here in Kosovo.
Thank you for giving me the opportunity and thank you for coming this morning. We are looking forward to entering this next stage of Kosovo’s economic development. Thank you very much.