FIAA holds the General Assembly Elections
In March 28th, FIAA hold the General Assembly Meeting of the Members and conducted election process for four new Board Members including the Appointment of the Chairman of FIAA for the next two years.
In his opening speech the President of FIAA, Mr. Silvio Pedrazzi highlighted some of the main achievements and challenges he had during his Chairmanship and emphasized the importance of the Organization as the best Instrument for the Foreign Investors in Albania. Mr. Pedrazzi did also thank the members for the support and trust given to his mandate and expressed his will to further continue his mission on representing FIAA as Chairman even for the next two years.Read More
“It is important that state institutions play a greater role in creating a business environment able to retain current investments and attract new ones”
FIAA: What is the IFC’s current long term finance investment strategy in Albania?
IFC was established in 1956 as part of the World Bank Group to support private sector investment in emerging markets to create jobs and raise standards of living. IFC’s financial products enable companies to manage risk and broaden their access to foreign and domestic capital markets. Our financial products consist of fixed and variable rate loans extended to the private sector, which finance both early-stage companies and expansion projects. IFC also makes loans to intermediary banks, leasing companies, and other financial institutions for on-lending. In addition to lending, IFC engages in equity investments that provide developmental support and the long-term growth capital the private sector needs. IFC invests directly in companies’ equity and also through private-equity funds.Read More
“Albania needs greater trust in law and order”
FIAA: During your time here in Albania, have you seen any change in the operating environment for foreign businesses in the country?
Mr. Larsen: Yes – several laws which have been passed, for example. I think the law on strategic investment is beneficial for investors that want to do business here in Albania. It gives businesses a one-stop window in terms of interaction with the government, and so on. We already have that kind of one-stop window in the energy ministry and in the project implementation unit which has been established in the Ministry of Energy, and I believe that the law on strategic investment should help all businesses.
The fact is that Albania is in a period of active reform and we are hopeful of seeing changes in the energy sector as a result. The whole energy sector is undergoing reform and the new energy law passed last year makes commitments to changes in the institutions, for example, liberalization of the market for power trading. We were originally expecting these things to be in place by now, but they will come. The government is committed to reform and it will make it happen. I think it will take some more years still before we have a fully functional power market here in Albania.Read More