FIAA presents the outcomes of the Business Environment Survey in Albania 2018-2019

FIAA presents the outcomes of the Business Environment Survey in Albania 2018-2019

June 8, 2019
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Unfavorable Business Climate, Monopoly and Corruption continue to remain the most concerning issues. 

During a mid-year event in June, FIAA presented the outcomes of its Business Environment Survey 2019. The Survey was conducted among the Membership of FIAA which are the most important foreign businesses in the country, operating in various industries such as, energy, oil, mining, banking, telecommunications, manufacturing, etc, that represent the biggest part of the FDI-s in Albania.

Business estimation on the business climate during the first six months of the year was stated as unfavorable. When asked to rate the climate from 0 to 100, where zero is unfavorable and 100 very favorable, the outcome from businesses was 39. Expectations seems to be a little more positive for the second half of the year with the index rising to 45, but still falling below 50.

The Survey outcome collects as the most concerning, obstacles like monopoly & unfair competition, corruption, Government bureaucracy and informal economy. However, positive feedback was also stated by respondents in the relations with improvements in the banking system policies, access to finance, labor rules, intellectual property rights, and energy supply. Also, the relations with the customs and the central government were rated with positive notes.

During the Results presentation, The Minister of Finance and Economy, Mrs. Anila Denaj, present in the Event, said that the government is open to ongoing dialogue with entrepreneurs. She added that bureaucracies have fallen sharply, as confirmed in the World Bank’s Doing Business report.

Minister Denaj said it is true that 2-3 foreign companies have left Albania, but according to the 5-month data from the National Business Center, 89 new businesses with foreign shareholders have been opened.

Further, the Minister presented the Fiscal project, which the Ministry of Finance has launched this year, with the goal that in the year 2020, all payments can be performed electronically. This will contribute to a very sensitive reduction of informality. She announced to the businesses the results of the reforms undertaken by the government, such as those dealing with deregulation reform, with licenses, that today are given online 99%. During her word Minister Denaj invited the members of FIAA to visit the Vocational Schools and Labor Offices in every location they operate, in order to better mediate the needs of parties, job seekers and employers.