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Interview with Chairman of FIAA on Business Climate and Albanian Investment Potentials

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.

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.

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.

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.

Albania’s economy, like other countries in the region, is recovering faster than expected after the historic recession created by the COVID-19 pandemic. Following the contraction of the economy by 4 percent in 2020, GDP growth is projected to reach 7.2 percent in 2021, one of the highest among Western Balkans countries, says the latest edition of the Western Balkans Regular Economic Report, Greening the Recovery.

#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

White Book 2021-2025

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’s President Dr. Constantin von Alvensleben and Deputy President Mrs. Rigela Gegprifti had a meeting with the New Head of EBRD in Albania Mrs. Ekaterina Solovova and Mrs. Endrita Xhaferraj, Principal Counsellor of Governance and Political Affairs.

Mr. Alvensleben presented the long cooperation FIAA and EBRD have had in Albania, the respective roles and contribution at the best of country’s business environment, in particular the long cooperation with the Investment Council Platform.

FIAA’s Executive Director Ms. Marinela Jazoj met with the Newly appointed Minister of State for the Protection of Entrepreneurship Mrs. Edona Bilali. Together with the former Minister, Mr. Eduard Shalsi, the New Minister, had a friendly welcome and open discussion with the representatives of key Business Associations and Chambers in Albania.