News

FIAA’s Members represented by HR’s Departments gathered in a Brainstorming Meeting to discuss on the Labor Force Skills and Availability in Albania. This issue nowadays is very concerning and challenging, even bigger for the private sector that is facing both the lack of skilled people and the leave of the available labor force/youngsters to other countries.

Among key topics discussed were: The Private Sector’s experience and challenges regarding the Labor Force in the Albanian Market, Mismatch of Supply and Demand on Skills, Education programs ‘enrichment, and Employee value proposition; Addressing the labor migration phenomena; Building capacities/ taking preventive measures on both macro and micro level and Increasing companies competitiveness regarding compensation and benefits schemes, as well as other non-financial tools aiming at the creation of a healthy working environment and urgent need on establishing cooperation with relevant stakeholders in particular Government Bodies, Universities and International Organizations in order to mitigate the labor migration

We are strongly committed to bring forward our initiative and our proposals to the Authorities and to the relevant stakeholders in the country!

Thank you to all participants for their valuable ideas and professional contribution!

#FIAA #albania #foreigninvestors #HRProfessionals #youngsters #LabourForce #Skills #Proposals #Development

Foreign Investors Association of Albania – FIAA’s Tax Committee members hold a meeting on November 7th, focusing also on the restructuring of the Committee and Leadership for the next two years. During the past five years, this Committee was chaired by Mrs. Anisa Jasini, Director/Tax Services at Ernst & Young Albania, who has been representing the FIAA’s Committee to the third parties, as well as engaging with her expertise in the important documents such as White Books, Manifests and Fiscal Packages consultation.

The ongoing war in Ukraine and consequent sharp increase in energy prices and slowdown in the global economy are likely to constrain Albania’s growth path. Following robust GDP growth in 2021, the country’s growth is likely to decelerate to 3.2 percent in 2022, says the latest Western Balkans Regular Economic Report .

FIAA’s Executive Director Ms. Marinela Jazoj met with Mr. Franco Scaramuzzi, Market Analyst in the Economic and Commercial Office of Spanish Embassy in Rome Italy.

The Board of FIAA had the pleasure to meet with the new Head of the EU Delegation to Albania H.E Mrs. Christiane Hohmann. The President of FIAA Mr. Alessandro D’Oria welcomed Ambassador Hohmann and congratulated her on the mission at a critical moment with great challenges that Albania is undergoing.

During the meeting, the Board representatives talked from their industry’s perspectives as well as shared their views on the Albanian business challenges.

FIAA’s President Mr. Alessandro D’Oria and Ms. Marinela Jazoj welcomed in the association’s premises Ambassador of Germany in Albania H.E Mr. Peter Zingraf and the Deputy Ambassador Mr. Jannis von Oy.

The Ministry of Finance and Economy has started consultation on the Fiscal Package 2023 during October 2022, including several drafts to be reviewed. During this period, business community is expected to provide comments and observations for the suggested amendments to the following drafts:

• Law 92/2014 “On Value Added Tax in the Republic of Albania”.
• Law No. 61/2012 “On Excises in the Republic of Albania”.
• Law No. 9975/2008 “On National Taxes”.
• Law No.9920/2008 “On Tax Procedures in the Republic of Albania”.

The official mission from the IMF staff has recently concluded its visit to Albania and delivered the following concluding statement:

• The Albanian economy has weathered multiple shocks since 2019 relatively well. Although Albania’s direct exposures to Russia’s war in Ukraine are limited, with twin deficits and high government debt, Albania now faces challenges stemming from soaring international food and energy prices, tighter global financial conditions which are likely to persist, and the economic slowdown in Europe. Prudent policy and vigilance are required to stem rising risks and entrench the positive momentum in the economy. 
• Fiscal consolidation, underpinned by a sound Medium-Term Revenue Strategy, is vital for rebuilding room for policy maneuver and reducing demand pressure. Fiscal support should be temporary and targeted to the vulnerable. Strengthening the efficiency and credibility of public finances remains crucial for preserving market confidence and mitigating higher borrowing costs.
• Further monetary tightening is needed to tame inflation. Higher interest rates and the changing landscape of the financial system call for enhanced vigilance to safeguard financial stability.
• Even as Albania grapples with pressing short-term challenges, the authorities need to step up their efforts on structural reforms to lift Albania’s potential for sustainable and inclusive growth.

For more information please visit: https://www.imf.org/en/News/Articles/2022/10/10/ms101022-Albania

In the frame of the communication that FIAA keeps with Diplomatic Bodies in Albania, the President Mr. Alessandro D’Oria and Executive Director Ms. Marinela Jazoj were hosted in a business lunch by H.E Mrs. Elisabeth Barsacq, Ambassador of France in Albania.

FIAA’s Executive Director, Ms. Marinela Jazoj met with the mission from DG ECFIN chaired by Mrs Sarah Jurreit and DG NEAR chaired by Mr Andrew Williams. The meeting was focused on the business climate and the efficiency of consultation mechanisms of state institutions with private sector.