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.
Read MoreIn the frame of the cooperation with Business Alliance of Slovakia on the Project, “Improving Business Environment in Albania”, in November 24th FIAA organized a Seminar on the results of the 3 Quarters of 2015. The Seminar’s purpose was to present the results of the quarterly monitoring Surveys on changes in the Business Environment Index in Albania and the identification of key trends and barriers to business.
The results referred to the main objectives of the survey, which are the Index of the Business Environment and the Assessment of the Law impact in Albania.
The Minister of Justice, Mr. Ylli Manjani called the main Heads of the Administrative Courts in Albania and the representatives of Business Community for a face-to-face discussion on the difficulties and barriers that business is having in the Administrative Courts System. The main line of discussion with Heads of Administrative Courts focused on expectations towards the present functioning of the Administrative Courts. The Minister highlighted the necessity for the good functioning of the Administrative Courts and promised for a continued communication for exchange of information and good measures which will facilitate both the work of Administrative Courts and Business in Albania.
Read MoreFIAA and European Bank for Reconstruction and Development (EBRD) in Albania held a Business Networking Event where EBRD presented its financing instruments in Albania with particular focus on ENEF (Enterprise Expansion Fund), an equity and quasi equity fund active in Albania and the region.
ENEF was established in 2014 and focuses on meeting the growing financing needs of dynamic local SMEs. EBRD acts as Investment Adviser for investments in the Western Balkans.
The European Delegation in Tirana published on 10th of November “ALBANIA 2015 REPORT”
The Report describes relations between Albania and EU, analyses situation in terms of political and economic criteria for membership and reviews the country capacity to gradually align legislation and policies with EU standards, in line with the stabilization and Association Agreement and the European Partnership Priorities.
The Report can be downloaded in the following link: http://ec.europa.eu/enlargement/pdf/key_documents/2015/20151110_report_albania.pdf
Read MoreThe Ambassador of Switzerland in Albania, Mr Christoph Graf hosted in October 2015 a business event with FIAA Representatives and the present Swiss Business Community in Albania. The meeting aimed the presentation of the Association to the Swiss Businesses not only for the purpose of the Networking opportunities, but also for the lobbing activities and other services FIAA does. During the meeting there were also presented the results of the Survey on Business Environment in Albania, which FIAA had conducted recently. Present businesses had the chance to ask questions, discuss on cooperation opportunities and common concerns towards business environment in Albania.
FIAA gives special thanks to the Swiss Embassy in Albania for hosting the Event and to RISI Albania for supporting the project on the attraction of Foreign Investments in the sectors of Agribusiness, Tourism and TIK in Albania.
Read MoreVodafone Albania Chief Executive Officer and FIAA Vice President
“We will continue investing in new technologies in Albania”
FIAA: How is Vodafone performing in Albania?
Dietlof Mare: Vodafone is showing a strong performance on both revenue and EBITDA results for this year. Such performance has driven us to continue investing in technology and network expansion across Albania. This year alone we are investing €25 million. The outcomes of all our efforts have been translated into a very positive take-up of new technologies such as 4G and M-Pesa and into a strong positive usage among customers and growth in the average revenue per active user. In less than three months since the launch, 6% of our data traffic is routed through our 4G network. This uptake has been faster than any European country where Vodafone operates.
Our attention has also been focused on cost efficiencies, because in order to keep such strong performance there is always need for focus and cost discipline. I am proud to say that we are still able to maintain very healthy EBITDA margins although we are operating in a highly penetrated mobile market.
Read MoreFIAA is having a regular communication and collaboration with the Albanian Investment Council in which addresses all the concerning business issues that foreign Investors face in Albania. FIAA Representative in this Council, Chairman Pedrazzi will present FIAA for the period 2015-2016. Mr Pedrazzi is very active on addressing the concerns of foreign Investors and also suggesting for appropriate measures. Among top issues addressed have been the conduction of a study for the evaluation of business tax inspections and also the Evaluation and fight against informal economy which refer to the major issues highlighted by FIAA Members in the course of a recently performed survey.
In response to the addressed issues, during September 2015, IC had prepared a questionnaire on Tax Inspection to collect comments and suggestions from the business in Albania. The approved recommendations of the Investment Council will be submitted to the Albanian Government for further decision-making.
Foreign Investors, International Institutions and other Stakeholders in Albania were gathered to discuss the main findings of the FIAA Business Environment Survey. The Minister of Economic Development, Tourism, Trade and Entrepreneurship, Mr Arben Ahmetaj was present in this roundtable, discussing and interacting on the most concerning issues of the Survey’s Business Environment Elements. Minister Ahmetaj expressed that Albanian Government considers as highly important the elements of FIAA survey, which are now part of the Discussion Agendas from the relevant institutional structures.
Present Foreign Investors expressed their concerns toward informality measures in Albania, tax audits and Inspections. One of the raised issues was frequent tax administration controls towards businesses, even in those audited by the “Big Four” in Albania.
Read MoreBy mid September, FIAA Board of Directors met Mrs Romana Vlahutin, Ambassador of EU Delegation in Albania. The Chairman Pedrazzi, shared with the Ambassador some of the recent actions of FIAA and expressed the necesity of cooperation with the European Delegation in most of these actions.
FIAA representatives presented to the Ambassador the newest initiative of FIAA, the establishment of the European Integration Committee and discussed on mutual collaboration related to Legal Compliance with EU acquis and EU legal Framework.
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