The privatization program in Kosovo began with the establishment of Kosovo Trust Agency (KTA), whose duty was to administer all nationally, publicly, and socially owned properties. Initially, KTA privatized the socially owned enterprises, by transforming them into joint stock companies, the shares of which were entrusted to KTA. Since the enterprises were registered as new enterprises, their shares were sold to the foreign and national investors.
The first round of privatization was held in July 2003, and until now 495 companies were privatized (10 % of which are awaiting the completion of contract agreement). In the meantime KTA was transformed into the Kosovo Privatization Agency, which became operational in September 2008.
The funds accumulated from the selling of assets of social enterprises reach the amount of more than 383 million euros, or approximately 11.5% of Gross Domestic Product. However, these funds were frozen by the KTA and are not under the active process of the national economy.