News

The High Judicial Council in cooperation with the Ministry of Justice completed on March 11th, 2022, the public consultation cycle on the proposal for the new Judicial Map.

The cycle of 8 consultative meetings during January-March 2022, has had 6 consultations with stakeholders exercising their activity in the jurisdictions of the courts of appeal Vlora, Gjirokastra, Shkodra, Korca, Durres and Tirana and 2 meetings with representatives of civil society and the business community. These meetings were attended by representatives from local chambers of advocacy, representatives from the General Prosecutor’s Office, judges and judicial civil servants.

The Foreign Investors Association of Albania (FIAA) hold in February 17th its yearly event, a traditional celebration which gathered the Foreign Business Community in Albania and the highest Diplomatic representatives along with key institutions in the country. The Event, called “A Prosperous Business Year 2022”, was greeted by the Minister of Infrastructure and Energy, Ms. Belinda Balluku who together with her key staff paid a serious commitment and engaged in thoughtful discussions with all the participants.

The Ministry of Tourism and Environment has recently established the Advisory Committee for Private Tourism Sector, with participation of national business associations, chambers and commerce, Academics, NGOs and stakeholders operating in tourism industry.

The first meeting of the Committee was hold on February 15^th, at the presence of the Minister of Tourism and Environment, Mrs. Mirela Kumbaro. FIAA was represented in the meeting by the Executive Director, Ms. Marinela Jazoj, at the quality of Permanent Member of this Committee.

WASHINGTON, February 11, 2022 – Albania’s economic model requires greater investment in people’s skills, firm productivity, sustainability, and public finances, says the new World Bank Country Economic Memorandum (CEM) for Albania, released today.

Albania has been severely impacted by the economic shocks which followed both the 2019 earthquake and the COVID-19 pandemic. Once the ongoing health crisis subsides, the country will need to refocus on its long-term economic objectives, which include building a strong and sustainable growth model to improve citizens’ living standards, thereby helping incentivize people with skills and talent to remain in Albania.

The Improvement of the Investment Climate in the country is the new focus of the Albanian Minister of Finance and Economy Mrs. Delina Ibrahimaj.  It was first stated by the Minister during the presentation of the White Book of FIAA in October 2021, where the Minister said that the White Book has been consolidated as a “platform” where foreign investors and state authorities discuss together the challenges of doing business in the country and comes as a long way guide, where we will need to improve and cooperate.

The Albania’s Economic Reform Program 2022-2024 is currently under drafting process. A European Commission team from DG NEAR visited Albania in mid-November with the purpose to interact with the relevant stakeholders on business environment, challenges and opportunities, policies to promote entrepreneurship and attract FDIs, concerns on informality as well as impact to competitiveness. FIAA was represented in this discussion by its Board Member Mr. Ante Frens who shared insights of the foreign Business Community and highlighted the preparation of the FIAA White Book as a very comprehensive and useful document containing both concerns and recommendations for the business environment on different themes and sectors of the economy. The White Book Document has been very welcomed by the European Delegation in Albania and highly appreciated by the Ministry of Finance and Economy.

In frame of the discussions for the chapters of the European Integration Partnership Platform, FIAA’s representatives from the Membership have been highly active in the organized Working Groups. During the period September- November have been held introductory and discussion tables, specifically on the following Chapters:

Chapter 1 “Free movement of goods”, Chapter 3 “Right of establishment and freedom to provide services”, Chapter 6 “Company Law”, Chapter 7 “Intellectual Property Law”, Chapter 16 “Taxation,

Interview with Chairman of FIAA on Business Climate and Albanian Investment Potentials

The Investment Council (IC) held a plenary meeting to discuss the opportunities and challenges related to the internationalization of Albanian Micro, Small and Medium-sized Enterprises (MSMEs). The meeting was attended by all IC members and other representatives from the public and private sector and development agencies in the role of observer.

Chaired by the Minister of Finance and Economy, Ms Delina Ibrahimaj, during her speech underlined the importance of MSMEs for the country’s economy and highlighted Government’s support through tax incentives, recent policy efforts through the newly adopted Business and Investments Development Strategy (BIDS), and other regional initiatives such as CEFTA, Open Balkan, which are providing support to SMEs in regards to exports.

In early November, the Ministry of Finance and Economy introduced the draft of the Fiscal Package 2022 during a Fiscal Council Meeting, which was shared for comments and concerns from the representatives of the Business Community. The draft was further distributed to FIAA Members for comments and opinions. Several suggestions have been collected and further addressed to the Fiscal Council, specifically on excises, VAT, National taxes and the amendment to the “Income Tax” law on salaries. Nevertheless, the Fiscal Package Draft was given a short time for consultation and there have been objections from Business on the presented draft claiming for more time in disposal and proper consultation with the Business Community representatives. FIAA is looking forward for the start of the roundtable discussions with the Ministry of Finance on various concerning issues which are also part of the White Book Content.