Kosovo incentives for Malaysian investment
Despite Kosovo's small size, she said sweeteners to lure Malaysian investments included access to the lucrative consumer base in excess of 600 million people based on the country's free trade agreements with the entire European continent.
'This means that investing in Kosovo offers the same opportunities as investing across Europe,' she said, alluding to Kosovo's efforts to consolidate its economy through FDIs and build up its somewhat fragmented industrial and manufacturing sector.
'With the ease of doing business, Kosovo has the youngest population in Europe which is multilingual and tech-savvy, along with labour costs being much lower than in other European countries,' she told Bernama in an interview here today.
This coupled with numerous incentives for foreign direct investment offers significant potential for Malaysian businesses, said Osmani, who is on a four-day official visit to Malaysia.
During her visit, she met representatives from the National Chamber of Commerce and Industry of Malaysia (NCCIM) to discuss investment opportunities Kosovo offers to Malaysian businesses. Although no agreements were signed during the visit, discussions are ongoing and progress is being made, she said.
The Kosovian President said the first step would be to hold a joint economic forum with businesses from Kosovo and Malaysia to help identify key areas for a future trade agreement.
'Our teams are actively discussing potential areas of cooperation and I hope Prime Minister Datuk Seri Anwar Ibrahim will visit our country soon to help finalise these agreements,' she said.
She said she expects a direct flight between the Kosovian capital of Pristina and Kuala Lumpur in the future which would significantly ease communication and travel between the two countries, which established diplomatic ties in 2011.
Osmani arrived in Malaysia on Thursday, her first visit to the country since assuming office on April 4, 2021.
Malaysia officially recognised Kosovo on Oct 30, 2008, becoming one of the first Asian countries to do so, with formal diplomatic relations established on March 18, 2011.
'Even now, connections are quite good, mostly through Istanbul with other daily routes available as well. However, direct flights are always a more convenient way to enhance communication and travel,' she said.
She also highlighted the appeal of regional tourism packages that include Kosovo, Albania and Montenegro, which are gaining popularity among ASEAN tourists.
Osmani said Kosovo was looking to increase its exports globally, including to Malaysia, particularly in the ICT sector.
'Of course, Europe has been the main hub for our exports so far, but in the past couple of years, exports have quadrupled to the United States and several other countries.
'Our businesses are now looking for new markets where they can export their products, and I believe that once the joint economic forum takes place and businesses begin engaging with one another, they will be able to identify the specific needs in this part of the world,' she said.
Osmani said Kosovo is also seeking to expand exports to Malaysia, particularly in the food and energy sectors besides ICT.
'Our businesses are already exporting to Europe, the United States and Africa. We see Malaysia and the broader ASEAN region as important new markets,' she said.
Last year, trade between Malaysia and Kosovo amounted to RM28.55 million, with Malaysia's exports valued at RM25.92 million and imports at RM2.63 million.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
29 minutes ago
- New Straits Times
Potential sale reflects broader trend
KUALA LUMPUR: Petroliam Nasional Bhd's (Petronas) potential sale of its stake in an oilfield in Brazil reflects a broader trend among state-owned oil and gas companies to streamline their global portfolios, economists said. The potential divestment, which could raise about US$1 billion (RM4.23 billion), comes as Petronas continues to reshape its international upstream portfolio in line with long-term strategic priorities and shifting global energy dynamics, they added. It was reported that the national oil company was working with Bank of America Corp to market its 50 per cent stake in the offshore deepwater oilfield in Brazil's Campos Basin. The Tartaruga Verde field is operated by Brazil's national oil company Petrobras, which owns the remaining 50 per cent. Economist Samirul Ariff Othman said Petronas is in the midst of restructuring its upstream portfolio to boost resilience, prioritise value creation and ensure long-term sustainability in the face of market and geopolitical uncertainties. The strategy involves focusing on assets with strong break-even economics while minimising the group's presence in regions with elevated risk. "In recent years, the company has prioritised monetising non-core assets and reinvesting in areas aligned with its long‑term strategy, including unconventional resources in Argentina and Canada, and focused conventional assets in Brazil, Mexico, Turkmenistan, Iraq and Vietnam. "Selling the 50 per cent stake reflects this approach: monetising an offshore minority interest acquired in 2019, freeing capital for re-investment in more core or higher-return geographies," he told Business Times. Samirul said the national oil and gas company has been steadily withdrawing from non-core or higher-risk international assets as part of its portfolio optimisation strategy. "Ongoing divestments across Africa, including exits from Chad and South Sudan, align with re-focusing efforts. "Earlier moves included exiting Venezuela and underperforming European ventures, emphasising a pivot toward higher-grade, lower-risk upstream opportunities," he added. He added that the move to divest the Brazil stake aligns with Petronas' long-term strategy of shedding non-core offshore assets in order to redirect capital towards key operations and minimise geopolitical or operational risks. Samirul said the reported Petronas move to engage Bank of America to market its Tartaruga Verde stake reflects its ongoing strategic shift, streamlining its upstream portfolio in line with the 2024-2026 Activity Outlook, while redirecting capital toward assets with better break-even performance and stronger alignment with its Net Zero 2050 goals. Similarly, Universiti Teknologi Mara Business Management Faculty senior lecturer Dr Mohamad Idham Md Razak said Petronas' potential exit from the Brazilian asset is consistent with a wider realignment seen across the oil and gas industry. "This divestment aligns with strategic shifts aimed at reallocating resources towards more lucrative or strategically aligned assets. "The Brazilian offshore asset, while potentially profitable, might present operational challenges or uncertainties such as geopolitical risks, currency fluctuations, or regulatory complexities that make it a candidate for divestment," Idham said when contacted. He said the move could form part of a wider strategy to restructure Petronas' portfolio in line with global energy transition trends, potentially unlocking capital for renewable energy investments or higher-yield hydrocarbon projects in other regions. "Petronas' potential exit from international assets, such as the Tartaruga Verde oilfield, could be indicative of a strategic refocusing or a risk-aversion strategy in response to the evolving global energy landscape. "This trend might reflect a broader industry recalibration where companies, in the wake of the pandemic's economic impact and shifting towards cleaner energy sources, are divesting from assets that are either less profitable or do not align with their long-term strategic objectives," he added. Idham said this could be part of a larger trend of asset reallocation to support domestic energy security and decarbonisation efforts. "However, this does not necessarily imply a complete retreat from international ventures, as state-owned enterprises often have mandates to secure energy resources globally, and strategic disinvestments could be offset by new investments or partnerships in more geopolitically stable or strategically important regions," he explained.
The Star
38 minutes ago
- The Star
Cracking down on LPG misuse
PUTRAJAYA: The Domestic Trade and Cost of Living Ministry is intensifying enforcement against the misappropriation of subsidised liquefied petroleum gas (LPG) through 'decanting', which has been identified as one of the main causes of subsidy leakage, says Datuk Fuziah Salleh (pic). The Deputy Domestic Trade and Cost of Living Minister said the ministry is taking the issue seriously and enforcement under the Ops Gasak initiative is being ramped up to prevent irresponsible parties from exploiting government subsidies. (Decanting is the process of illegally transferring LPG from subsidised cylinders to commercial cylinders.) Fuziah said the focus of Ops Gasak on decanting follows the discovery of several cases involving individuals or entities posing as legitimate businesses or wholesalers but who divert subsidised LPG to industrial use. 'We found that the syndicate transfers subsidised LPG from 14kg cylinders, which cost RM26.60 each, into non-subsidised cylinders of the same size, which are sold at RM70 per unit. 'This significant price difference highlights the substantial profits that can be gained through such illegal practices, making it a major form of subsidy leakage that the authorities are tackling on a large scale,' she said in an exclusive interview with Bernama recently. She cited a recent case in Johor where the ministry uncovered decanting activities that were carried out under the guise of legitimate LPG wholesale operations. 'The individuals involved have been arrested and found to have committed offences under the Supply Control Act 1961. Strict enforcement action has been taken,' she said. Fuziah added that Ops Gasak is currently being implemented nationwide, except in Sarawak, where LPG enforcement falls under the state's ordinance and jurisdiction. She explained that Ops Gasak also aims to ensure that subsidised LPG is used solely by eligible households and micro-entrepreneurs, in line with the government's targeted subsidy policy. 'In terms of the law, there is no defect, but there was misuse by the wholesaler who supplied subsidised LPG to unqualified parties such as industries. 'So in this case, it is highly likely that the wholesaler who committed the offence will have to be held responsible. 'We have sufficient regulations to protect this subsidy, but there are still parties who abuse it,' she said. Prior to this, Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali announced that Ops Gasak would run from May 1 to Oct 31. The initiative is part of the broader Kita Gempur movement, launched on Oct 19, to combat the manipulation and leakage of subsidised goods.
The Sun
an hour ago
- The Sun
PM Anwar urges fresh look at Asian history beyond colonial views
KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim has called for a deeper appreciation of Asian history that moves beyond colonial narratives, citing Tipu Sultan of Mysore, an Indian ruler who fought against the British East India Company as a model of courage, learning, and tolerance. He said that the contributions of Tipu Sultan and his father Haider Ali, as defenders against British colonial expansion, exemplified the importance of understanding history from the perspective of local and regional leaders rather than solely from Western accounts. 'History is not necessarily very kind, one of our scholars Syed Hussein Alatas emphasised the need to reconstruct history because history cannot be written only by the winners or from the perspective of the colonial rulers,' he said during the launch of the More Than A Day As A Tiger exhibition at the Islamic Arts Museum Malaysia, here tonight. Also present were the Prime Minister's wife Datuk Seri Dr Wan Azizah Wan Ismail; Albukhary Foundation Chairman Tan Sri Syed Mokhtar Al-Bukhary; Malaysian National News Agency (Bernama) Chairman Datuk Seri Wong Chun Wai and his spouse, as well as representatives from embassies and consulates. The Prime Minister noted that Malaysian history, like that of many others, is often written from the perspective of the British, essentially reflecting Western colonial rule. 'Of course, there have been lots of academic accounts, including by Edward Said on Orientalism, but the manner, the whole discipline of history, culture and society is being dictated by certain Western viewpoints,' he said. Anwar also shared his personal experience visiting Mysore before taking office, recalling his admiration for Tipu Sultan's modest palace and his protection of Hindu temples, including the ancient temple in Mysore. He also praised Tipu Sultan's foresight in mastering military technology to confront colonial powers, citing the Mysore Sultanate's renowned cannons and firearms that had shocked the British in the early wars. 'It is not just an ordinary exhibition, but to showcase the history of India and the Muslim world, and the history of the anti-colonial struggle against colonial rule, in this particular case, the British rule. 'His diplomatic skills with the few sultanates, Muslims and Hindus in India and his venture into international diplomacy, particularly in persuading the French forces to support his struggle against the British,' he said. Anwar noted that while Malaysians have historically had limited knowledge of Tipu Sultan and Haider Ali's legacy, the Islamic Arts Museum Malaysia's exhibition would significantly enhance understanding about the two historical figures. Featuring an extensive collection of artefacts, manuscripts, weaponry and artworks related to Haider Ali and Tipu Sultan, the exhibition will run from tomorrow until January 11, 2026, at Special Gallery 2. - Bernama
