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FIAA Board of Directors held its first meeting in early January where among others was bid “Farewell” to two Board Members who further continue their careers with other challenges, respectively Mr. Rohan D’Souza the Chairman of Shell Albania who was promoted to another country, and Mr. Perparim Kalo who recently was elected as a Judge in the Constitutional Court of the Republic of Albania.

The Board recalled the year that Albania and the entire world went through, with all the difficulties the business coped with and also shared the insights and perspectives from the various industries FIAA represents and not only.

During December ’20, the Ministry of Finance issued an Instruction in the Tax Procedures, where Account-blocking orders were foreseen to be issued for debtor businesses and for shareholders and administrators. In this ambit, Meeting discussions have been hold among the Board Members and the Tax & Law Committees of FIAA, and we prepared a Letter to the Minister of Finance and Economy asking for the Review of the “Instruction in the Tax Procedures. The Ministry had a quick reaction on considering the concerns that business community raised and decided to amend the instruction.

The European Commission team chaired by Mr Javier Menendez Bonilla from DG NEAR, and Andrew Williams and Christina Vanghele from DG NEAR, Sarah Jurreit from DG ECFIN and Kamil Valica from DG Employment together with business representatives and stakeholders in Albania discussed during a virtual meeting on December on the business environment challenges, features and opportunities for the coming years.

FIAA’s Executive Director, Ms. Jazoj participated and contributed with FIAA-s insights on the Albanian economy, key challenges for business and some recommendations for improvements and of the business climate and economy.

In the ambit of industrial talks with members, FIAA held another interesting meeting with representatives from the telecommunication and Information Technology industries.

The meeting was very fruitful as it brought more insights from the invited participants, sharing their experiences during the Pandemic, difficulties, challenges, as well as learned on the industry concerns and their perspectives on the current doing business in the country.

During the recent visit of Keith Krach, Under Secretary for Economic Growth, Energy, and the Environment, the United States and Albania signed a historic memorandum of economic cooperation between the two countries. This memorandum is considered a significant achievement in elevating the economic relations between Albania and USA. The US firm – Bechtel signed an agreement for the construction of the Skavica hydropower plant, which seems to be the largest contract ever awarded to a sole U.S. firm, is a very good start.

FIAA’s Chairman and Executive Director meet the new Chairman of Shell Industries in Albania

Chairman and Executive Director of FIAA have welcomed to a business network Mr. Ante Frens, successor of Mr. Rohan D’Souza, Chairman of the Shell Industries in Albania and FIAA Board Member. Shell Companies in Albania have joined FIAA from the very beginning and represent good business practices and ethics in our country. Shell Companies have served continuously in the FIAA Board and supported with their experience and know-how.  The new Chairman was introduced with other FIAA members and was briefed on the mission and work of FIAA in Albania.

In the ambit of FIAA industrial talks, the Board Members have meet to share concerns and perspectives on the current doing business in the country. Representing different industries in the country, the Board have shared their experiences and perceptions coming from banking, consultancy, real estate development, oil industry, infrastructure and telecommunication.

In view of the fact that Albania is now preparing for the Electoral Run of the political Parties, the Board of FIAA considers as very important the communication with the members, the Government, Opposition and other Players in the political Arena, stressing stronger than ever, improvement of the Business climate in the country.

FIAA considers as highly important to further develop communication and discuss among each other on the issues members from respective industries are facing. In this ambit, member businesses of the energy sector, have meet with FIAA’s Chairman, Dr. Constantin Von Alvensleben sharing their concerns and perspectives on the current doing business in the country.

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The European Bank for Reconstruction and Development (EBRD) is conducting an assessment on business restructuring tools in all 38 economies where the EBRD is active. The assessment aims to provide detailed guidance on legislative gaps to address an expected increase in businesses needing to use formal restructuring procedures following the coronavirus pandemic. It also aims to provide an overview of the options within pre-insolvency and insolvency frameworks across these economies.

For more information read here: https://www.investment.com.al/ebrd-launches-assessment-tool-to-help-mitigate-coronavirus-impact/