The Improvement of the Investment Climate in the country is the new focus of the Albanian Minister of Finance and Economy Mrs. Delina Ibrahimaj. It was first stated by the Minister during the presentation of the White Book of FIAA in October 2021, where the Minister said that the White Book has been consolidated as a “platform” where foreign investors and state authorities discuss together the challenges of doing business in the country and comes as a long way guide, where we will need to improve and cooperate.
Mrs. Katia Stathaki, CEO of Vodafone Albania
“Vodafone Albania has always been a pioneer of introducing new technologies in the country”
FIAA: Finally, we have a female Leader for Vodafone Albania, this is a trend applied also to other industries and to the recent Governments. How is your experience in Albania going so far?
Mrs. Stathaki: Albania is a beautiful country to live in. When I was appointed to this role, I knew little about the country. Half a year later, I could not be happier for my appointment as Vodafone Albania CEO. I have not only found a great team here, but I have discovered also a beautiful country with an amazing spirit and hospitality.
Read MoreEBRD steps up support for tourism and agribusiness in Albania
The European Bank for Reconstruction and Development (EBRD), OTP Bank Albania and the Albania Agribusiness and Tourism Support Facility are stepping up their support for companies in the country’s agribusiness and tourism sectors.
Together with the government of Albania and the European Union (EU), the EBRD is committing up to €7.11 million of loans to eligible firms in the agribusiness and tourism sector, risk-shared with its partner bank, OTP Bank Albania. The funds will be provided through the Albania Agribusiness and Tourism Support Facility (AATSF), a framework aimed at improving access to finance for small and medium-sized businesses.
The facility also includes a 10 per cent investment incentive for sub-borrowers in the agribusiness and tourism sectors, funded by the government of Albania and the EU, respectively. Borrowers will receive the grant incentive once their investments have been completed and verified. The facility will also benefit from a government-backed first-loss risk cover mechanism.
For more information please read: https://www.ebrd.com/news/2021/ebrd-steps-up-support-for-tourism-and-agribusiness-in-albania-.html
Read MoreFIAA participates in the meeting with European Commission officials on Albania’s Economic Reform Program 2022-2024 (ERP)
The Albania’s Economic Reform Program 2022-2024 is currently under drafting process. A European Commission team from DG NEAR visited Albania in mid-November with the purpose to interact with the relevant stakeholders on business environment, challenges and opportunities, policies to promote entrepreneurship and attract FDIs, concerns on informality as well as impact to competitiveness. FIAA was represented in this discussion by its Board Member Mr. Ante Frens who shared insights of the foreign Business Community and highlighted the preparation of the FIAA White Book as a very comprehensive and useful document containing both concerns and recommendations for the business environment on different themes and sectors of the economy. The White Book Document has been very welcomed by the European Delegation in Albania and highly appreciated by the Ministry of Finance and Economy.
Read MoreOngoing Meetings on the Chapters of the European Integration Partnership Platform
In frame of the discussions for the chapters of the European Integration Partnership Platform, FIAA’s representatives from the Membership have been highly active in the organized Working Groups. During the period September- November have been held introductory and discussion tables, specifically on the following Chapters:
Chapter 1 “Free movement of goods”, Chapter 3 “Right of establishment and freedom to provide services”, Chapter 6 “Company Law”, Chapter 7 “Intellectual Property Law”, Chapter 16 “Taxation,
Read MoreCompetitiveness and Internationalization of Albanian MSMEs
The Investment Council (IC) held a plenary meeting to discuss the opportunities and challenges related to the internationalization of Albanian Micro, Small and Medium-sized Enterprises (MSMEs). The meeting was attended by all IC members and other representatives from the public and private sector and development agencies in the role of observer.
Chaired by the Minister of Finance and Economy, Ms Delina Ibrahimaj, during her speech underlined the importance of MSMEs for the country’s economy and highlighted Government’s support through tax incentives, recent policy efforts through the newly adopted Business and Investments Development Strategy (BIDS), and other regional initiatives such as CEFTA, Open Balkan, which are providing support to SMEs in regards to exports.
Read MoreFIAA comments on the Fiscal Package 2022
In early November, the Ministry of Finance and Economy introduced the draft of the Fiscal Package 2022 during a Fiscal Council Meeting, which was shared for comments and concerns from the representatives of the Business Community. The draft was further distributed to FIAA Members for comments and opinions. Several suggestions have been collected and further addressed to the Fiscal Council, specifically on excises, VAT, National taxes and the amendment to the “Income Tax” law on salaries. Nevertheless, the Fiscal Package Draft was given a short time for consultation and there have been objections from Business on the presented draft claiming for more time in disposal and proper consultation with the Business Community representatives. FIAA is looking forward for the start of the roundtable discussions with the Ministry of Finance on various concerning issues which are also part of the White Book Content.
Read MoreAlbania and UN renew commitment to joint work on sustainable development for the next five years
The Government of Albania and the United Nations Country Team in Albania announced their renewed commitment to a joint programme of work for the next five years this Monday, as Deputy Prime Minister Arben Ahmetaj and UN Resident Coordinator Fiona McCluney signed the Albania-UN Sustainable Development Cooperation Framework 2022-2026.
Read MoreEBRD and Italy promote eco-tourism in Albania
Road investment and sustainable tourism to boost economic development
Ancient hillside fortresses, pristine beaches and unspoilt nature are just some of what Albania has to offer to tourists. In the Velipoja-Shëngjin area, in particular, many people make a living from the tourism sector.
The EBRD is supporting sustainable tourism in the area. A US$ 50 million investment will upgrade a number of regional and local roads, including the road between Velipoja and Shëngjin, and provide easier access.
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