Prishtina, 15 December 2011 – Economic development and social welfare are wherever factories are, said today Minister of Economic Development, Besim Beqaj, during his visit to the re-privatized company Llamkos – GalvaSteel in Vushtrri, while underlining the support of the Government for private sector development.

Minister Beqaj said that he was encouraged by the company’s management, whom informed the former that the Llamkos privatization process, by means of liquidation, cost 7 million euro and the company currently employs around 350 staff members.

“This is what Kosovo’s economy needs. This is in total harmony with the economic development vision we have adopted. We said that the private sector should become the bearer of our economic development, while the dynamics adopted by the private sector further dictate the dynamics of other sectors, and have a direct impact on making Kosovo more attractive for investments”, said Beqaj.

The MED head said that Llamkos represents a good example to be followed by other foreign investors, who are able to find the possibility to profit but also to directly contribute to Kosovo’s economic development, while highly evaluating the dedication and professionalism of the new management, which installed a genuinely European culture in the management of Kosovo’s production capacities.

He promised that the Government will take all measures necessary to create a suitable legal infrastructure for the development of the private sector, by removing all of its potential barriers.

For his part, Director of Operations in Llamkos-GalvaSteel, Arten Bajrushi thanked Minister Beqaj and said that this visit marking the recommencement of production shows the support that Kosovo’s institutions give to the private sector.

He said that in addition to the privatization by liquidation, at the price of 7.5 million euro, the company has committed to employ 437 employees and invest an additional 25 million euro.
 
“I am able to proudly state that we have already filled 350 positions, meaning that these families already enjoy the benefits of our company’s investments. We will hold our promise, and finalize the employment and investment commitments by end of February” said Bajrushi, informing all present on the opening of a new production line.

Otherwise, Llamkos GalvaSteel was privatized by Core Group in July 2011 and is considered to be one of Kosovo’s most important privatizations. Core Group is an independent international company in the sector of mines and metals, with offices and agents in all Balkans countries and beyond.