Roundtable on the economic perspectives, opportunities and challenges for FDIs in 2017

Roundtable on the economic perspectives, opportunities and challenges for FDIs in 2017

January 20, 2017
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The University of New York Tirana (UNYT) in partnership with the Foreign Investors Association in Albania (FIAA) gathered this January in a roundtable with main CEO’s and representatives of businesses in Albania and Economic Diplomatic Officials to discuss on the Country’s economic perspectives, opportunities and challenges for FDIs in 2017.

On the occasion of the 15th anniversary of the establishment of UNYT, the CEO, Mr. Andreas Galatoulas stated that a 15-year journey in Albania has been very interesting for the first private university in Albania.  “We consider our institutions as a bridge between academic and business to generate concepts and ideas that will help entrepreneurship. What we want is to understand the business needs in order to prepare the students to be educated in UNYT and provide human resources for the best Albanian businesses. Our graduates of today are your leaders of tomorrow”- he said.

On the other hand, the Chairman of FIAA, Mr. Silvio Pedrazzi during his word, highlighted how important is the link and cooperation between Education and Business. For Mr. Pedrazzi, insufficiently trained human resources are among the main concerns for entrepreneurs. “It is very difficult to find qualified people who know how to make algorithms and do financial analysis. This is particularly a concern in the banking sector, “said Mr. Pedrazzi. He further stressed that the implementation of the Justice Reform and the fight against informality are not only the basis for the progress of the country, but will help to turn the confidence of investors, whether foreign or domestic, and for those who will have to come tomorrow.

One of the largest investments undertaken in the last two decades such as Trans Adriatic Pipeline project is expected to give a big push to the country’s economy. For foreign investors, this is a project that will in addition serve as an example for the private sector implementation, but also in the way it engages local companies. According to the Country Manager of TAP, there is no doubt that one of the major competitive advantages of the country is the low cost of labor.

The meeting unfolded information for foreign investors up to date on economic changes, trends, development and the impact of foreign direct investment (FDI) in Albania. Particularly, there was a focus on challenges FDIs face in Albania and on much needed structural reforms on judiciary system and on business regulatory framework aiming to further liberalize the market. The role of higher education institutions was also highlighted with the goal of filling the gap between the set of skills provided by the education and the needs in the labor market.

University of New York Tirana and FIAA aimed through this event to revert to an annual tradition with the ultimate goal of bridging among academia, business community and policy making.

University of New York Tirana offers dual degree thanks to the precious collaboration with State University of New York – Empire State College, USA. UNYT graduates are part of a global community of more than three million alumni in general and more than 3,400 just last year.