In the most recent edition of the roadshow to the DACH countries (Germany, Austria, Switzerland), the Innovation and Training Park Prizren (ITP) and the NGO Germin  presented the vision and potential of the ITP Prizren to an interested audience in Frankfurt. The event welcomed more than 25 diaspora entrepreneurs from the German State of Hesse in Frankfurt as well as important stakeholders such as the Minister of Industry, Entrepreneurship and Trade of the Republic of Kosovo, head of the Albanian-German Businesses Union (UB), and Kosovo’s General Consulate in Frankfurt. About 25 thousand Kosovans live in the German State of Hesse, and an important share of them own prosperous businesses. ITP Prizren is trying to tap these businesses’ potential by offering them a stable environment to bring knowledge, capital, and access to advanced markets to their home country of Kosovo. 

In addition to being recognized as the source of significant resource flows to Kosovo through remittances, Kosovo Diaspora should also be seen as significant socio-economic investors in Kosovo’s development.  Usually, diaspora investors are more likely to invest in their home country than non-diaspora investors. They have a better understanding of the governance and in-country business and may therefore have a differing understanding of risk from other investors. In addition, diaspora investments are channeled into underdeveloped sectors of the economy, which do not impact the crowding out of domestic resources. Lastly, it is argued that diaspora investors are not only interested in financial returns but also have non-financial motives, which carry positive effects, especially in regard to employment and technology spillovers. 

Nevertheless, the Kosovan diaspora faces a range of barriers to investment such as fear of bureaucracy, lack of lasting partners in the country of origin. Due to such factors, diaspora investment patterns often appear to be conservative. ITP Prizren is a great model for attracting diaspora investment in Kosovo since it has been created to provide special regulations and conditions not offered elsewhere throughout the country. The park aims to create ease accessibility of land for investments, presents new research, technologies and skills development, and more job opportunities. 

As the newly appointed Managing Director of ITP Prizren, Mr Hans-Jürgen Cassens, pointed out in Frankfurt, the strategically located park aims to support Kosovo’s development goals, and the staff of ITP Prizren is working hard in that direction. The Minister of Industry, Entrepreneurship and Trade of the Republic of Kosovo, Mrs Rozeta Hajdari, also stressed that the diaspora is one of the main contributors to Kosovo’s economic growth. The minister also encouraged all entrepreneurs at the event to consider investment opportunities in Kosovo, especially on ITP Prizren, which offers a stable investment environment for businesses, start-ups, training, and innovation. 

During this meeting, Mr Nazmi Viqa, head of the Albanian-German Businesses Union (UB), said that the union would continue to support the ITP Prizren among the diaspora and German investors because all these investors look for such great opportunities with excellent German-build infrastructure. In addition, Consul Gezim Gashi from Kosovo’s Consulate General in Frankfurt mentioned that they would continuously promote investment opportunities in Kosovo, which undoubtedly includes ITP. 

ITP Prizren advisor, Muhamed Rexhepi, presented a detailed presentation about the park and its mission.  After the presentation, a Q&A session helped diaspora stakeholders to understand the park better. The following cocktail reception offered a great opportunity for networking and exchanging contacts with ITP representatives and learn more about the park’s investment possibilities.

The interest in the ITP’s potential shown during the two events indicated a great signal for the future! Therefore, more editions of the roadshow will take the ITP management and Germin to successful diaspora entrepreneurs in Germany, Austria and Switzerland. 

For more information on the ITP, please visit www.itp-prizren.com.

Business Parks are moving away from the traditional setting towards a more entrepreneurial one, where businesses located on the site interact, support, and trade with each other. This is precisely what the Innovation and Training Park (ITP) Prizren offers — synergy between the private sector, vocational education and training institutions, and innovation activities. ITP Prizren strives to be a focal point in the Balkan region for innovation, business as well as skills development, and a source of innovative and successful ideas. The park is currently developing into a changing and boosting element for ICT, agro-food and creative industries by creating and managing a favourable business environment.

In the last two years, Kosovo’s economy was under continued pressure from the COVID-19 pandemic, but this is not the only obstacle that needs to be addressed. Having a low unemployment rate and inactive population, low informal jobs, particularly for women and youth, infrastructure improvements, higher human capital investment, and a better regulatory environment for businesses are some of the economic goals for Kosovo.Because development is often confined to the likes of infrastructure and human resources, ITP Prizren is an ideal catalyst for Kosovo’s economic development with a modern infrastructure, vocational and on-the-job training that foster and attract businesses of all scales and sizes.  These and other services offered at ITP Prizren improve the work-life balance of people working in the park, increasing the site’s attractiveness and increasing the potential for formal collaboration between academia and industry. 

In Kosovo, small businesses and start-ups are struggling to ensure that the products and/or services they offer meet industry specific needs and the global standards. Hence, the role of ITP Prizren- the German managed park becomes increasingly important for businesses, start-ups and training providers looking for an increase in productivity through the introduction of efficient logistics and supply chain solutions. 

Furthermore, Kosovo’s current flow of FDIs is insufficient to achieve the desired economic growth. Most of the investments coming from the diaspora are oriented towards financial services, construction and real estate, and very few towards production sectors. The latest research shows that ICT, food, and energy sectors are growing and likely to attract new FDI. Therefore, ITP Prizren intends to attract diaspora investments in those areas, which in return will increase employment and productivity and create a more stable connection to global value chains.

A favourable business climate is fundamental to Kosovo’s economic prosperity; however, women face multiple difficulties opening and developing their businesses. Even though women represent almost half the population, they own only 13 percent of all businesses, mostly micro or small, in Kosovo. To meet women’s potential to create jobs through their business and boost economic growth, women entrepreneurs in Kosovo need to support underlying policy and regulatory constraints related to women’s share in industrial land, skills, and access to credit.

ITP Prizren is also creating a women-friendly business ecosystem through a “Women Empowerment through Digital Transformation” project, supporting women to reinvent their business models from traditional to digital. The project will enhance women’s ability to succeed in business: through general and very specific digital initiatives, training programmes and networking opportunities for business continuity. In total, 125 women were part of a five-day training session on topics with a digital angle, selected according to the private sector’s needs.

Businesses at the ITP have the unique opportunity to become positive drivers of the community, the economy, and the environment. In terms of community, the innovation and training park produces more employment opportunities, business retention and reduces development costs. In addition, it can serve as an economic stimulus for future investment in retail and housing. The environment refers to environmental, energy, and waste design and infrastructure principles that aim to preserve more for ecological circumstances. Lastly, in terms of the economy, ITP has put together services that help achieve the economic goals of Kosovo by creating a more sustainable, productive, and fast-growing business climate.

The vision of ITP Prizren is in line with the objectives set by the national development strategy plan of Kosovo: To foster employment, create better infrastructure, a safer environment for businesses, and promote foreign direct investment (FDI) through furthermore engaging the diaspora. The park is designed to promote innovation to further knowledge and boost labour productivity. ITP offers a number of shared resources, such as incubators, coworking spaces, digital centre programs, uninterruptible power supply, management offices, among others. All these factors could be an advantage to promote export activity and create a certain niche and competitive standpoint for the diaspora community and other foreign investors.

Events such as the Diaspora Business Convention continue to be one of the main facilitators supporting the diaspora by taking an active role as a development agent in their country of origin. The well-connected stakeholders in these events focus on finding how diaspora engagement could assist Kosovo’s economy through skills development and transfer, the establishment of trade networks, and investment. These networking events are crucial as they bring together government representatives, stakeholders responsible for diaspora engagement and numerous businesses from Kosovo and the diaspora.

Diaspora businesses have consistently expressed interest to invest in Kosovo; however, some factors prevent these investors from investing, ranging from infrastructure issues to bureaucratic obstacles. For this reason, the two-day Kosovo Diaspora Business Convention was a strategic occasion for Innovation and Training Park (ITP) Prizren to explain to the diaspora what ITP has to offer for the businesses, including its high-quality infrastructure, various networking and cooperation business services, and a Centre for Digital Excellence.

Over 170 businesses from the diaspora and 100 businesses from Kosovo were part of the convention organized by the European Branches of the Albanian Diaspora Business Network and USAID Kosovo Compete Activity, in partnership with GERMIN and associations of three sectors such as the Association of Wood Processors (SHPDK), Food Processing Sector Associations (PEPEKO and ORGANIKA), and ICT associations (STIKK – Kosovo ICT Association and Innovation Centre Kosovo. During this two-day event, businesses had the opportunity to network, attend B2B meetings and listen to thematic presentations and discuss Commercial Diplomacy. In addition, diaspora entrepreneurs visited various businesses of Kosovo and discussed future cooperation.

The convention ended with a visit to the Innovation and Training Park (ITP) in Prizren, where business and investors from the diaspora had the opportunity to better understand the possible business prospects offered by the ITP park. During the ITP Prizren visit, more than 60 participants from diaspora businesses were present from three sectors: wood processing, food processing, and ICT. It was of high importance to present the vision of ITP to these businesses, given that they operate in the key sectors in which the park will offer. The tour through the space of ITP park consisting of more than 40 hectares and 52 office buildings allowed the ITP management to introduce business and investment opportunities which in return would offer a “win-win” approach for ,both, Kosovo and the diaspora.

After visiting the ITP facilities, the participants took part in a very successful and lively reception that discussed further the collaboration/investing opportunities at ITP and lasted till very late in the evening.

Mr Wolfgang Leidig, Managing Director of ITP Prizren, welcomed the guests and expressed his deep gratitude for the diaspora’s readiness to invest in Kosovo and become part of ITP Prizren. The German management of ITP offers a sound and safe investment opportunity in an attractive business environment. For more information see www.itp.prizren.com

Considering that diaspora businesses play an important role in facilitating trade and investments between the countries where they live and Kosovo; ITP is creating a compelling case of support to attract diaspora investment and knowledge transfer to match Kosovo’s development needs. The park is a secure and stable investment environment for businesses and start-ups. In particular, the ITP aims to be a changing and boosting element in ICT, agro-food and creative industries by creating a favourable environment. Consequently, ITP Prizren can help bridge markets and circulate knowledge and information on technology and business practices between Kosovo and Kosovo diaspora.

In addition, Mr Ylli Blakaj – President of the Albanian Business Network in Austria and Europe, and Mr Skender Rama, Chief of Party, at USAID Kosovo Compete Activity pointed out that these events help create new leads, transform existing ones and build strong relationships between Kosovo and the diaspora.

Integrating into the wider European economy is a key goal for Kosovo. With more than 500,000 1 people with roots in Kosovo in Germany, Austria and Switzerland, the diaspora can play a major role here as it connects economic power hubs in Europe with its homeland. To tap this huge potential for Foreign Direct Investments, transfer of knowledge and know-how, the team of the Innovation and Training Park Prizren (ITP) and the NGO Germin launched a roadshow to the DACH Countries (Germany, Austria, Switzerland) aimed at presenting the vision and potential of ITP Prizren as well as business and investment opportunities in the park. The first edition of the roadshow took place in Düsseldorf and welcomed 27 stakeholders from numerous businesses owned by the Kosovo diaspora in North Rhine-Westphalia, Germany.

The Innovation and Training Park (ITP) Prizren adds to Kosovo’s favourable business environment. It strives to be a focal point in the Balkan region for innovation, business as well as skills development, and a source of innovative and successful ideas. The German managed park offers a secure and stable investment environment for businesses, start-ups and training providers. It is currently developing into a changing and boosting element for ICT, agro-food and creative industries by creating and managing a friendly business environment. As the ITP Prizren proactively seeks Foreign Direct Investments as a nucleus for further economic growth and economic integration in Kosovo it has started a line of activities for this matter with a prime focus on diaspora entrepreneurs wishing to invest and become engaged in Kosovo.

As the Managing Director of ITP Prizren Mr. Wolfgang Leidig, pointed out in Düsseldorf, the strategically located park offers not just excellent German-build infrastructure, 52 buildings on around 40 hectares of land with plenty of vacant plots available for new structures, including fibre optic internet and clear ownership structures but also a chance to untap Kosovo’s favourable environment for business opportunities. Perks, among others, are a low corporate tax rate of just 10%, a pro-business stance and a young educated workforce. Likewise, the park will facilitate linkages and synergies between companies and education and training providers to offer investors the labour forces needed. The ITP’s development is financially supported by the German government. This shows the commitment and trust of Germany into the Innovation- and Training and furthermore helps to strengthen the ties between Prizren, Kosovo, Germany and the Albanian diaspora in Central Europe.

The resident Consul General of the Consulate of Kosovo in, Mr Kashtanajeva who co-hosted the meeting, welcomed the Roadshow of ITP hoping that such meetings will continue to happen, and help promote great initiatives similar to ITP Prizren. On this occasion Mrs Sihana Bejtullahu, Co-executive Director of Germin, stressed that diaspora plays a critical role in integrating Kosovo into the global economy. Also, participants present shared the excitement for the new era coming into the business environment of Kosovo. Mr. Bekim Bytytqi from the “Union Business Albanisch/Deutscher Unternehmen” said that the union of businesses in Germany has supported and will continue to support the ITP Prizren. The union members have already shown deep interest to invest in Kosovo and are looking forward to finding a way to become part of such a great initiative.

After the presentation of the ITP management, a Q&A was opened for stakeholders to understand the park better and clarify any thoughts after presenting the ITP Prizren concept. This was followed by a networking session that was a great opportunity to exchange with ITP representatives and get the detailed information regarding the park’s investment possibilities.

The end of the first informative meeting regarding the ITP Prizren was followed by a field visit to Kelmendi GmbH, a Kosovar family-owned business based in Germany with several branches across Europe. This tour was fruitful for both the ITP representatives and the Kelmendi company since it opened the door to discussing the possibility of collaboration/investments.