Author Archives Fiaa User

“EU Transit, Tirana Farm” is a Fancy Event hold on May 19th-20th, which aimed at the promotion of the Albanian products to the invited Entrepreneurs from European Enterprise Network and was organized under the care of the Municipality of Tirana and Ministry of Economy.

In frame of the promotion of foreign investments in the country, FIAA organized a Business Networking Event which had in its focus the Project presentation of Trans Adriatic Pipeline – TAP. The Chairman of FIAA, Mr. Pedrazzi during his opening word expressed that: “I think FIAA, in fulfilling its mission has also the obligation to bring to public attention, the success of businesses and the achievements of its members. In TAP’s case, I should emphasize not only the grandeur of this work, but also the quality of this project, as the largest investment ever made in Albania, and also emphasize all the other positive effects on society, especially for local communities, through social investments made by TAP”.

By end of March, the EBRD Board of Directors visited Albania and met government representatives, entrepreneurs and civil society organizations.

The purpose of the visit was to bring the Directors, up to date with the progress of transition, as well as to allow them to witness the impact of the Bank’s activities on this process and to become better acquainted with the domestic, foreign business and diplomatic communities in these countries.

To date, the EBRD has invested €1 billion in 77 projects in Albania. Infrastructure and energy are the largest sectors of EBRD investments, reflecting both the country’s most pressing needs and strongest potential.

Other EBRD priorities in Albania according to the current country strategy (2016-2019) include supporting private sector competitiveness, building on the strong entrepreneurial spirit in the economy, strengthening regional infrastructure linkages, enhancing the commercialization of state-owned enterprises and promoting sustainable energy and environmentally sound investments.

In late March 2017, the Executive Team of FIAA met with the Ambassador of USA in Tirana, Mr. Donald Lu. This meeting was in the course of other meetings FIAA is having with High Governmental, Internationals and Diplomats in Albania, mainly focused on the recent developments in the business environment of the country and exchange of views for related support. During the Meeting with Ambassador Lu, The Chairman of FIAA highlighted the main findings of the FIAA recent Survey and expressed his readiness for closer cooperation with the Embassy in particular for good implementation of the Justice Reform as one of the preconditions for a better business climate in the country. On the other side, Ambassador Lu thanked FIAA for the good job done and suggested for stronger cooperation between FIAA and American Businesses in Albania.

In late March, a group of Executive Directors, members of the Board of the World Bank Group, visited Albania with the purpose to assess the Bank Group’s engagement in the energy sector and efforts to support regional connectivity. Increasing regional cooperation and plans to improve connectivity within Western Balkans started in 2014 with support from the World Bank Group and the European Union.

During their visit, the WB Directors met with key Executives of the Albanian Government and discussed Albania’s progress and challenges in the energy sector and shared views on facilitating energy exchange through the establishment of organized electricity markets and the prospects for expanding regional integration. As well, it was discussed the impact of World Bank Group financed operations, like the Power Sector Recovery Program, on energy sector reforms within the Government’s broader structural reform agenda.

Part of the WB Executive Directors’ Agenda was a meeting with private sector’s representatives, where FIAA was represented by its Chairman, Mr. Pedrazzi. In the meeting it was discussed on challenges to a competitive and efficient energy sector and how the World Bank can assist in addressing these constraints.

The World Bank Group has a large lending and guarantee portfolio in Albania, including International Bank for Reconstruction and Development (IBRD) financing of US$615 million, an International Finance Corporation Portfolio of US$187 million, including funds mobilized from its partners, and a Multilateral Investment Guarantee Agency portfolio of US$214 million.

European Commission’s DG NEAR is a project implemented by Particp GmBh aiming to inform the public in EU member states about the progress that countries who are candidates and potential candidates for EU membership are making in fundamental areas, such as fight against corruption and organized crime, economic development etc.

FIAA Executive Director participated in a Business lunch with several journalists from different EU member states who visited Albania this February, in frame of promoting a better understanding of the EU’s enlargement process and offer insights into the key reforms in the candidate countries and potential candidates for future EU membership. The February’s study visit to Albania focused on economic governance and rule of law as key enablers for a conductive business environment and opportunities in the country.

Being one of the key organizations in the country, FIAA was picked as one of the main representatives of the business community in Albania expected to share views and perspectives with the EU Journalists. During her presentation, Mrs. Jazoj made a broader picture of Albanian potentials and challenges providing also information into a broader perspective for the investment opportunities and areas where work should go on.

Business Process Outsourcing (BPO) is emerging as a new industry in Albania with a good potential on attracting big corporates around the world, seeking for countries with low cost of labour. This sector is recently under the attention of the Albanian Government too, aiming to turn it as a sector with high potential in particular for the youth employment.

In February 20th-23rd, 2017, FIAA together with AIDA and Albanian Outsourcing Association participated with a Promotional stand in CCW Fair Berlin. This participation was enabled with the support of Swiss Embassy in Tirana through the Project RisiAlbania. The entire Team has been continuously consulted by Avasant Experts who are appointed by RisiAlbania to support the BPO Sector and the Organizations who work with it. The presentation of FIAA in CCW Berlin was very important not only for the gained Networks, but also for learning new models in this industry which is in the early stages in Albania.

In February 15^th, FIAA presented the findings of the 2016 Business Environment Survey and Perceptions of Business for 2017. Foreign Investors, International Institutions, High Diplomats and other Stakeholders in Albania were invited to learn on the findings and to hear the different perspectives shared by the FIAA Executives, by the Ambassador of EU Delegation in Albania and by the Minister of Finance.

The main findings of the Survey showed that this study was conducted with the participation of the major foreign companies operating in our country, summarizing their perceptions and attitudes towards the different elements of the business climate such as, tax procedures, business confidence, competition, judiciary, etc. According to the survey, the overall business confidence of investors didn’t show any improvement compared to the previous year, however, the majority of businesses say that their business activity for 2016 has increased despite the not good perception of business climate in general.

Early this Year, the Board of FIAA at the proposal of Ernst & Young Albania established the new Committee on “Tax & Financial”, which activity will support FIAA members for a healthy business and tax environment in the country as well as to provide high-quality information on the current and future developments in the tax system in order to enhance stability and predictability of the business activity in Albania.

This Committee is Chaired Mrs. Anisa Jasini, representative of Ernst & Young Albania.

The committee will work in close collaboration with the FIAA Members, the Ministry of Finance and related authorities, Financial Institutions in the country and other stakeholders.

The Tax Committee Working Agenda for 2017 will mainly focus on:

• Identifying tax issues faced by members and general business community having a negative impact on a specific sector or industry.
• Promoting tax changes required to improve the business climate based on EU legislation and best international practices.
• Presenting the association’s position on required tax changes to the EU Delegation and other international institutions.
• Providing technical support to the FIAA Board of Directors in its discussions with the government or other institutions.
• Updating members on tax development by organizing conferences, seminars and round tables
• Commenting on tax bills (on selected area of interest to our members) and their compliance to the letter and to the spirit of the applicable EU framework.

In cooperation with its members and the other FIAA Committees, in September 2017 will be issued the second edition of FIAA WHITE BOOK Albania, which will present the most pressing obstacles on doing business environment and will address recommendations to the Leading Government.