In frame of collaboration FIAA has with the Albanian Investment Council, during January 2016 businesses of Mining, Oil and Gas Committee met with IC experts aiming to identify main concerns and gather concrete recommendations from businesses, organizations and institutions in order to improve the complaining procedures in relation to taxation, customs, inspections etc, which were part of the Agenda of IC meeting in March 2016.
Read MorePrime Minister Edi Rama presents taken reforms to FIAA members
Albanian Prime Minister Edi Rama attended FIAA’s traditional annual ceremony on 27th of January 2016. During the ceremony FIAA presented a midterm review assessment of the main requirements its members had asked to the Government two years ago. The assessment of the 10 Top Promises Paper was prepared by FIAA in cooperation with the Foreign Business Community.
Mr. Gent SEJKO – Governor, Bank of Albania
“The BoA expects Albania’s growth trend to continue in 2016”
FIAA: What are current economic indicators telling you about the state of the economy in Albania?
Mr. Sejko: Economic growth was 2.98 % in the third quarter of 2015. Our estimate of growth for the full year 2015 is 2.7 %, compared to 2.0% in 2014 and 1.3% in 2013. For 2016 we forecast growth above 3.0%, which means a moderate growing trend. This is positive for Albania, especially considering the current difficult economic environment in the region and the eurozone.
Mr. Christoph DENK – Head, EBRD in Albania
“EBRD plans further support for foreign investors in 2016”
FIAA: How do you see the outlook for Albania in 2016?
Mr. Denk: We think that the economic outlook for Albania will continue to improve steadily in 2016. Overall we expect the economy to grow by around 3.3% in 2016, up from 2.2% in 2015.
FIAA produces dedicated promotional brochures on Agro processing, Tourism and BPO sectors in Albania
Three dedicated Promotional Brochures are produced by FIAA and will serve as good tools to attract international investors who are interested to know on Albanian potentials in the sectors of Agro-processing, Tourism and Business Process Outsourcing. The Brochures will be disseminated to all Embassies in Albania and will be distributed in different events and Exhibitions inside and outside the country.
This initiative is cooperation between FIAA and RISI Albania with the main goal to promote the Albanian potentials in the sectors of Agro-processing, Tourism and ICT.
Presentation of EBRD Transition Report 2015-2016
The Bank of Albania and the EBRD launched in December 17th the EBRD Transition Report 2015-16, which is the EBRD’s annual update on reform progress and economic developments across 36 countries from Central Europe to Central Asia and the Southern and Eastern Mediterranean. The report outlines some of the key developments in Albania over the past year and it discusses the transition challenges ahead – for Albania and for the wider region.
Read MoreInformation Session on Support to harmonization of economic and trade legislation with EU acquis
The members of the European Integration Committee of FIAA in cooperation with the German Government Project – GIZ, held an information session on Support to harmonization of economic and trade legislation with EU acquis.
The objective of this Event was informing the Members of the Committee on EU Integration process and structures in Albania; explain how the policy and law harmonization planning, drafting and implementation is done and the Role of the Albanian Ministry of Economy as one of the key players in this process.
DELEK Group to invest in oil and gas sector, tourism and agriculture
Following the Prime Minister’s Rama visit to Israel, the PM office announced that Israeli companies will invest in the water management sector, oil and gas sectors, tourism and agriculture sectors.
During 2016, the biggest Israeli investing group in oil and gas field, DELEK Group will start investing in Albania. DELEK Group has expressed interest to invest in the oil and gas field and on 2016 it will start exploring the Albanian ground for new oil sources. The group has also expressed interest to invest in the tourism and agriculture sectors.
Read MoreFIAA Board meets with EU Ambassadors and Head of EU Delegation in Albania
In December 2nd, FIAA Board of Directors was invited by the Head of EU Delegation for a presentation session with EU Ambassadors in Albania. During the Meeting there were raised and discussed most of the current hot issues the businesses are facing. Several Ambassadors got informed on the most critical emerging issues disclosed from the FIAA Business Survey 2015 and agreed to make a proper follow up on these concerns. EU Ambassadors also stressed the urgent need for the Reform on Justice as a key element on the Business Climate of Albania. Ambassadors agreed that it is very important to keep regular communication with businesses and altogether contribute to the creation of a favorable business environment in Albania.
Read MoreAmerican Investment Bank in Albania, the newest second tier bank
After the approval of the purchase of the Credit Agricole Bank from American Bank of Investment, the Governor of the Bank of Albania Mr. Gent Sejko licensed officially ABI- American Investment Bank, during a special ceremony in December 2015. The American Investments Bank is the newest investment in the banking sector.
The American Investment Bank is present in Albania after buying the total shares of Credit Agricole Albania bank on October of this month.
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