FIAA holds the General Assembly Elections
In March 28th, FIAA hold the General Assembly Meeting of the Members and conducted election process for four new Board Members including the Appointment of the Chairman of FIAA for the next two years.
In his opening speech the President of FIAA, Mr. Silvio Pedrazzi highlighted some of the main achievements and challenges he had during his Chairmanship and emphasized the importance of the Organization as the best Instrument for the Foreign Investors in Albania. Mr. Pedrazzi did also thank the members for the support and trust given to his mandate and expressed his will to further continue his mission on representing FIAA as Chairman even for the next two years.
During the meeting, the Executive Director of FIAA, Mrs. Jazoj made the Annual Reporting on FIAA’s work and actions. In particular, she highlighted the role that the Business Environment Survey has on identification of the main business concerns and their proper follow up with the Law and Decision Makers.
On the other side, The Deputy Chairman of FIAA, Mr. Dietlof Mare stressed out the importance of a consistent follow up on the defined business concerns and intensification of communication with the Authorities. He also encouraged the Members for a better involvement and interaction in all FIAA initiatives and a higher involvement in the created sectorial Committees.
The Meeting continued further with a Reporting slide from the Chairs of FIAA Committees like: Energy Committee, Mining and Oil and Gas Committee, Integration Committee and the most recently created, the Tax and Financial Committee. All Committees’ Representatives made a short reporting on the work done during the last year and shared with the Members the upcoming objectives.
Meanwhile, Ms. JAZOJ presented the Members with a New Approach that FIAA should apply in its philosophy which was chosen by the various recommendations of the members themselves.
The Assembly of members continued with the voting process assuring the necessary quorum of members, and followed with the Candidates self presentation.
The voting process proceeded normally and the new elected Members in the Board of Directors of FIAA were:
Mr. Silvio PEDRAZZI, CEO of Intesa Sanpaolo Bank Albania
Mr. Patrick PASCAL, General Manager of Selenice Bitumi sh.a
Mr. Bozhidar TODOROV, CEO of First Investments Bank
Mr. Jean-Alain Jouan, CEO of ALEAT, SAFRAN Group
The Chairman of FIAA for the Next two Years was elected Mr. Silvio Pedrazzi who got the highest number of votes.
FIAA is a serious business organization that has built its integrity over 17 years. This organization is an independent institution that is not influenced by politics, but it is a reliable source of information and a very active lobbying instrument, offering unparalleled networking opportunities, and a good advocate to its members and to the business climate at large.
The evening concluded with cocktail celebration among FIAA members and guests.
“It is important that state institutions play a greater role in creating a business environment able to retain current investments and attract new ones”
FIAA: What is the IFC’s current long term finance investment strategy in Albania?
IFC was established in 1956 as part of the World Bank Group to support private sector investment in emerging markets to create jobs and raise standards of living. IFC’s financial products enable companies to manage risk and broaden their access to foreign and domestic capital markets. Our financial products consist of fixed and variable rate loans extended to the private sector, which finance both early-stage companies and expansion projects. IFC also makes loans to intermediary banks, leasing companies, and other financial institutions for on-lending. In addition to lending, IFC engages in equity investments that provide developmental support and the long-term growth capital the private sector needs. IFC invests directly in companies’ equity and also through private-equity funds.Read More
“Albania needs greater trust in law and order”
FIAA: During your time here in Albania, have you seen any change in the operating environment for foreign businesses in the country?
Mr. Larsen: Yes – several laws which have been passed, for example. I think the law on strategic investment is beneficial for investors that want to do business here in Albania. It gives businesses a one-stop window in terms of interaction with the government, and so on. We already have that kind of one-stop window in the energy ministry and in the project implementation unit which has been established in the Ministry of Energy, and I believe that the law on strategic investment should help all businesses.
The fact is that Albania is in a period of active reform and we are hopeful of seeing changes in the energy sector as a result. The whole energy sector is undergoing reform and the new energy law passed last year makes commitments to changes in the institutions, for example, liberalization of the market for power trading. We were originally expecting these things to be in place by now, but they will come. The government is committed to reform and it will make it happen. I think it will take some more years still before we have a fully functional power market here in Albania.Read More