#WhiteBook is a fruit of the commitment and expertise of the several FIAA professionals and experts operating in a range of industries, engaged in a year-round consultative process.
#FIAA acknowledges the contribution of the White Book Working #team #AlbanianAssociationofBanks #BogaandAssociates #DeloitteAlbaniaandDeloitteLegal #ErnstandYoungAlbania #KaloandAssociates #KPMGAlbania #PwCAlbania #FIAAMembers
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The Association of Foreign Investors in Albania (FIAA) presented the third edition of the White Book 2021-2025, a document for the improvement of the business climate in Albania. The presentation of the Book marked the 21st anniversary of the Association. The event was attended by Government, Diplomats, International Organizations as well as representatives of the foreign business community in the country. Published every 4 years, since 2013, the White Book is an appeal of foreign investors on the business climate in Albania and a transparent platform for dialogue with the authorities. Its purpose is to facilitate business in Albania by removing unnecessary barriers and to give concrete proposals for appropriate reforms in the country.
FIAA President Mr. Constantin von Alvensleben in his speech said: “We are aware that not only business has faced big challenges, but also the Government. However, despite the current situation we are living in, our expectations as a business community remain the same. “The country needs to further improve its business environment by completing reforms in key areas, strengthening its institutions in general, the judiciary in particular, and continue the fight against corruption.”
For the White Book he said it is a fruit of the commitment and expertise of the many FIAA professionals and experts operating in a range of industries, with special committees engaged in a year-round consultative process.
“We are pleased to see that we and the new Government are sharing the same priorities: the safety and health of people against COVID-19, economic recovery, the rule of law and further digitalization. But, it is also essential to further support the acceleration of accession negotiations with the EU, along with the serious commitment to proper fiscal consolidation and proper law enforcement. As Foreign Investors in Albania, it is our role to constantly show the main obstacles and challenges that would make Albania a favorable country for new investments”, said Mr. Alvensleben.
At the book presentation ceremony, were also the Ambassador of the Delegation of the European Union, Mr. Luigi Soreca and the Minister of Finance and Economy, Mrs. Delina Ibrahimaj.
In his speech, Ambassador Soreca stressed that it is essential that Albania has a positive environment for entrepreneurship, above all, for foreign investors. Enforcement of contracts and clear ownership rules are some of the aspects that Albanian institutions must guarantee in order to improve the foreign business climate in Albania.
Furthermore, the Ambassador of the Delegation added that: “The main responsibility to put Albania on the path of sustainable and inclusive growth, and to raise the living standards of its population, lies with the country’s institutions. Investments will only increase significantly if companies see tangible improvements in the business environment. This is about the proper implementation of the rule of law, guaranteeing free and fair competition, where businesses are protected from corrupt practices, contracts are implemented in a timely manner, informality is reduced, and there are rules of clear ownership.
Meanwhile, in her speech the Minister of Finance and Economy Mrs. Delina Ibrahimaj said that the White Book, which has already been consolidated as a “platform” where foreign investors and state authorities discuss together the challenges of doing business in the country, comes as a long way guide where we will need to improve and cooperate. ”
She further stressed that the voice of FIAA on behalf of the foreign enterprises plays an important role in emphasizing priorities and improving investment policies. “Therefore, in this speech I find the opportunity to appreciate your role, not only in involvement in policy-making debates, but also your role in monitoring the good governance of business climate reforms to the great challenges that await us in the framework of European Integration, in the regional and global market “, concluded Minister Ibrahimaj.
At the end of the activity, thanking the participants, the President of the Association said that the goal of the FIAA is to have a closer cooperation with the Ministry of Finance and Economy and other institutions in following the recommendations of the Book through Working Groups with Experts from both Public Administration and Business Representatives.
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FIAA is part of the Multi Stakeholder Group at EITI Secretariat Albania
The Extractive Industries Transparency Initiative – EITI, is an international initiative with main object to develop and implement a mechanism for declaring revenues earned from the use of Natural Resources through Extractive Industries, publishing of these data in an understandable format by everyone and their oversight by providing to the general public information on public revenue and expenditure, thus, contributing to a public debate and the establishment of mechanisms for the good governance of these revenues to the benefit of communities. The EITI process can be further tailored and adapted according to the current context of each implementing country, in order to meet the information needs of stakeholders, as well as the needs to tackle the sector with important reforms, based on this data. As it is set out in the EITI Standards Requirements, the EITI Standard Implementation requires effective oversight of the EITI process by all stakeholders. This is accomplished through the establishment and functioning of a Multi Stakeholder Group, which includes government representatives, companies operating in this sector, and full, independent, active and effective participation of civil society, who are committed to work together in order to develop and promote the transparency and good governance of this sector.
The EITI Multi Stakeholder Group (MSG) was established by the Prime Minister’s Order no.71, dated 21.07.2011, to follow-up Albania’s membership procedures as an implementing country of the Extractive Industries Transparency Initiative and the ongoing fulfillment of the obligations deriving from this initiative.
The Multi Stakeholder Group for EITI Albania is the decision-making body, in charge of supervising the implementation of EITI in Albania. This group is headed by the Deputy Minister of the Ministry of Infrastructure and Energy and consists of government representatives, companies operating in extractive industries and civil society. The Multi Stakeholder Group approves the work plan for the secretariat, submits the annual EITI report, ensures that EITI contributes to public debate and supports the work of the Albanian Secretariat EITI.
For more information: https://www.albeiti.org/site/en/legislation/
The Multi Stakeholder Group EITI (MSG) operates based on its Internal Regulation “REGULATION ON ORGANIZATION AND FUNCTIONING OF THE MULTI STAKEHOLDERS GROUP (MSG) IN FRAME OF THE MEMBERSHIP IN THE EITI-INTERNATIONAL ORGANIZATION” – Approved with the Minister’s Order, no.454 Prot, dated 30.12.2016 “Order for the adoption of the Regulation of the Multi Stakeholder Group (MSG) in frame of the membership in the EITI International Organization”
For more information: https://www.albeiti.org/site/en/regulation-of-msg/
Members of the Multi Stakeholders Group
The Multi Stakeholder Group, chaired by the Deputy Minister of Infrastructure and Energy, consists of 16 representatives, 6 representatives from the government, 5 representatives from civil society and 5 representatives from the companies operating in the extractive industry. Representatives from other institutions may also participate in the multi stakeholder group meetings upon the invitation of the chairman.
Method for selection of Representatives of Extractive Industries to the EITI MSG and current representatives
Representatives of Extractive Industry Operators, Members of MSG EITI Albania shall be selected, mandated and replaced in accordance with the procedures described in Articles 10 and 11 of the Internal Regulation. In order to maintain diversified opinion and broad representation, each interest group has the right to designate its representatives in MSG for EITI in Albania. The nomination process is independent within each subgroup.
– Participation in the MSG for Civil Society representatives and business representatives, in order to enable broad-based representation, is made upon open public invitation by the Chairman of this Working Group and is administered independently and transparently by each group. Each group must make transparent the procedure for selecting MSG members and must provide documents to the Chairman of the MSG, for the process and selection procedure, as well as validity of each member’s mandate;
– The EITI Secretariat Albania will provide technical support throughout the selection process, if this is required by each of the groups, in order to fulfill the transparency of each process.
For more information: https://www.albeiti.org/site/en/regulation-of-msg/
On 16.11.2016, a Memorandum of Understanding (MoU) was signed between FIAA and National Secretariat of EITI Albania, by No. 118 Prot, which stipulates that FIAA will be the only formal Institution that Represents Businesses in Extracting Industries and that it will undertake the selection process of MSG members from business representatives, ensuring a transparent and independent representation. Despite the limited number of seats for FIAA in the MSG, the selecting process among the members of FIAA within this industry is made based on the following criteria:
For more information: https://www.albeiti.org/site/en/selection-process-of-extractive-industries-companies/
In frame of the Corrective Actions left by the First Validation Process, where it was required the representation as a Member in the MSG for ALBPETROL sh.a., and pursuant the resignation given for work purposes by the Statkraft representative, on 11.01.2019, the Chairman of MSG Mr. Enis Aliko by letter no.17 Prot, dated 22.01.2019, requested the replacement of the Statkraft Member with the representative of Albpetrol sh.a.
For more information: https://www.albeiti.org/site/en/selection-process-of-extractive-industries-companies/
Over the years, FIAA’s Representatives in the MSG have been the largest investors in the country, such as:
Currently, the representatives of Extractive Industry Operators in the MSG are as follows:
For more information: https://www.albeiti.org/site/en/multi-stakeholder-group/
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The EITI Standard requires that the government, extractive companies and civil society are fully, actively and effectively engaged in EITI implementation. The Secretariat is seeking views from relevant Stakeholders! Please read the Link and give your views!
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In frame of the FIAA’s commitment to improving the business climate in Albania, the Tax and Legal Committee ‘Experts under FIAA, have prepared the first Draft of the White Book Albania 2021-2025. The draft is now under broader consultations with more businesses, members of FIAA and it is treating a significant part of the legal and tax framework in the country by addressing the most concerning issues in the doing business environment, along with proposed solutions and recommendations for each area of interest.
Chapters of the White Book draft cover mostly the: Tax Law; Business Registration Law; Banking Regulatory Framework; Corporate Law; Concessions Law; Energy Renewables Law; Bankruptcy Law; Fiscal Regime on Hydrocarbons in Albania; Hydrocarbons Law; Employment Law; Law on Invoice and Turnover Monitoring System (Fiscalisation Law); Pension Fund Law in Albania; Residence and Work Permit Law; Carbon Tax/Excise Tax; Trademarks Protection as well as Waste recycling Management.
Read MoreThe Albanian Government approved on 1 July 2021, the non-application of penalties until 1 January 2022 for incompliance with the e-invoicing law requirements. The decision taken by the Council of Ministers was approved through a normative act with immediate effect, published in the official gazette. The decision stipulates that no penalties shall apply until next year for taxpayers’ offences in relation to the timelines for entry into force and effective application of the Law 87/2019 “On the invoice and the system for monitoring the turnover”.
Read MoreMinistry of Justice (MoJ) has shared for consultation “The Draft Intersectoral Justice Strategy 2021-2025”. The Draft Intersectoral Justice Strategy 2021-2025 aims to consolidate the legal and institutional framework of the justice system, to incorporate modern European practices in criminal justice, to improve the infrastructure of the justice system, including innovative electronic solutions that support a substantial increase in efficiency and transparency in the justice sector, which are fundamental for the business climate too.
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The Agenda of the last Meeting of the Investment Council was focused on the Discussions for the Draft Business and Investments Development Strategy 2021-2027. This draft Strategy had been highly at the FIAA Board ‘Focus, as an important strategic Document for the future of the Investments and Business in the Country.
In June 9th, the FIAA Board of Directors gathered in their first meeting after the newly elected members had joined. The main focus of the meeting was on the FIAA’s upcoming agenda as well as the New Board restructuring. Main discussions among the board members were “brainstorming” on the business concerns and issues that FIAA members report. The Board agreed that the Lobbying process will continue as intensively as before, but the approach with the authorities should be improved and restructured by embracing new ways.
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In June 1st, the Foreign Investors Association of Albania (FIAA) held its Annual Assembly Meeting. This Meeting was the first with physical presence of businesses after a long social distancing that society experienced due to the pandemic.
This event, along with the Assembly of Members launch, was also business nature and an opportunity for some informal networking which, was very helpful after such a long period of isolation, thus rejuvenating FIAA relationships and friendships in a conducive and relaxed environment.
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