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During  spring the European Commission has disbursed €90 million to Albania under its COVID-19 related macro-financial assistance (MFA) programme. Albania is the eight country to receive a disbursement from the €3 billion emergency MFA package for ten enlargement and neighborhood partners, which aims to help them limit the economic fallout of the coronavirus pandemic. This disbursement will contribute to mitigating the severe negative socio-economic consequences of the coronavirus pandemic in Albania.

For more information, please visit: https://eeas.europa.eu

The French renewables company Voltalia has won the contract for the construction and operation of another 100 MW solar plant in Albania, following its successful bid in a tender run by the Albanian Ministry of Infrastructure and Energy. The European Bank for Reconstruction and Development (EBRD) supported the tender by providing technical assistance.

In the frame of the communication that FIAA keeps with Diplomatic Bodies in Albania and further to the prior meetings held with the Ambassadors of Japan and Ambassador of Israel in Albania, FIAA’s President Dr. Alvensleben and Executive Director Ms. Jazoj had a meeting with H.E Mrs. Sophia Philippidou, Ambassador of Greece in Albania and the representatives of the Greek Trade Office. Main discussion of this meeting was focused on the current business environment and main issues that the business faces, along with views on the publication of the FIAA Manifest. The Greek Ambassador and her Team highlighted the importance of a better investment in the country along with easing of bureaucracy, fight against corruption and a pro-business environment. Among others, it was also discussed the close cooperation between FIAA and the Greek investors in the country. Greek investors are an important part of the entire foreign Investment flow in Albania and their interest will be in the light of FIAA actions and Lobbying initiatives.

In March, the IC held a discussion meeting on the main challenges and recommendations to fostering innovation in entrepreneurship, with a focus on the governance of the ecosystem, cooperation in the context of the “quadruple helix”, access to finance and digital economy. The meeting was chaired by the Minister of Finance and attended by IC members, and other representatives.

FIAA President Dr. Alvensleben and Ms. Jazoj, participated in a video conference meeting with the Shell Albania Country Team on the Topic “FIAA Manifest and External Perspective on Foreign Investment in Albania”. Through this meeting it was presented the FIAA-s role in Albania, its structure and composition, along with the main actions and interventions in support of the Business Membership.

The Chairman, Dr. Alvensleben highlighted some key points on the current business climate, as well as mentioned some critical issues where Albanian government and other political Players should focus. Foreign Investors Association strongly appeal that the investment climate in the country remains a key element to get improved, rule of law, legal certainty and tax clarity remain serious challenges, in particular to foreign investors, Dr. Alvensleben stated.

Further to the issuance of the Ministry of Finance of the new legal obligation born in the framework of the implementation of Law no. 112/2020 “On Registering of Beneficiary Owners”, with deadline 31st of March 2021 to be applied from business, FIAA jointly with other Chambers and Business Organizations sent a Letter to the Minister of Finance asking for an extension of the deadline declaration of the beneficiary owners from 31st of March 2021 to 30th of June, 2021.

The Minister in a prompt reaction agreed to approve the required extension of the deadline until June 30th, 2021 and issued a new Normative Act approving the deadline extension and giving all of us the serenity and the necessary time to prepare the required documents.

Tirana Economic Forum III, where FIAA for the third consecutive year is a Local Partner, is a business event that took place on March 12th, 2021, organized in the Digital platform due to the pandemic.

Τhe Tirana Economic Forum over the past years has developed into a high-level meeting of the most influential Albanian and international political, corporate, and intellectual leaders, addressing pressing challenges currently facing Albania and the Region.

FIAA jointly with other Chambers and Business Organizations in Albania have discussed and prepared an official request to the Minister of Finance, Mrs. Denaj, asking for an extension of the deadline for declaring the data of the beneficiary owners from 31^st of March 2021 to 30^th of June, 2021.

The Joint Action of Business Organizations through this letter conveys to the Minister the concern over the new obligations arising in the framework of the implementation of Law no. 112/2020 “On the Registering of Beneficiary Owners”.

In the framework of FIAA cooperation with the IMF on monitoring and supporting Albanian business climate, in early March it was organized a meeting with IMF experts from Washington. In this meeting FIAA was represented by its Chairman, Dr. Constantin von Alvensleben, the Country Director of Deloitte Albania Mr. Maksim Caslli and the Executive Director of FIAA Ms. Marinela Jazoj.

The main topics discussed in the meeting were related to the current business environment, tax system and necessary reforms in Albania, the pandemic impact, as well as the continuity of the weakness of the Euro currency in the country. This meeting came also as a follow up of the FIAA Manifest points that were presented earlier to the Albanian leaders and the attention they should give.