News

The Albanian Government approved on 1 July 2021, the non-application of penalties until 1 January 2022 for incompliance with the e-invoicing law requirements. The decision taken by the Council of Ministers was approved through a normative act with immediate effect, published in the official gazette. The decision stipulates that no penalties shall apply until next year for taxpayers’ offences in relation to the timelines for entry into force and effective application of the Law 87/2019 “On the invoice and the system for monitoring the turnover”.

Ministry of Justice (MoJ) has shared for consultation “The Draft Intersectoral Justice Strategy 2021-2025”. The Draft Intersectoral Justice Strategy 2021-2025 aims to consolidate the legal and institutional framework of the justice system, to incorporate modern European practices in criminal justice, to improve the infrastructure of the justice system, including innovative electronic solutions that support a substantial increase in efficiency and transparency in the justice sector, which are fundamental for the business climate too.

The Agenda of the last Meeting of the Investment Council was focused on the Discussions for the Draft Business and Investments Development Strategy 2021-2027. This draft Strategy had been highly at the FIAA Board ‘Focus, as an important strategic Document for the future of the Investments and Business in the Country.

In June 9^th, the FIAA Board of Directors gathered in their first meeting after the newly elected members had joined. The main focus of the meeting was on the FIAA’s upcoming agenda as well as the New Board restructuring. Main discussions among the board members were “brainstorming” on the business concerns and issues that FIAA members report. The Board agreed that the Lobbying process will continue as intensively as before, but the approach with the authorities should be improved and restructured by embracing new ways.

In June 1^st, the Foreign Investors Association of Albania (FIAA) held its Annual Assembly Meeting. This Meeting was the first with physical presence of businesses after a long social distancing that society experienced due to the pandemic.

This event, along with the Assembly of Members launch, was also business nature and an opportunity for some informal networking which, was very helpful after such a long period of isolation, thus rejuvenating FIAA relationships and friendships in a conducive and relaxed environment.

The Delegation of the European Union in Albania, during the second trimester of the year has started preparing the Annual Report 2021 on Albania. As in previous editions, they welcomed input from business organizations to obtain views on the topics covered in the report. The structure of the Albania 2021 Annual Report required for each of the criteria – political, economic and European standards (chapters), an evaluation of Albania’s progress since June 2020. Focus is on the Progress measured in terms of concrete decisions taken, adopted legislation and degree of implementation.

During  spring the European Commission has disbursed €90 million to Albania under its COVID-19 related macro-financial assistance (MFA) programme. Albania is the eight country to receive a disbursement from the €3 billion emergency MFA package for ten enlargement and neighborhood partners, which aims to help them limit the economic fallout of the coronavirus pandemic. This disbursement will contribute to mitigating the severe negative socio-economic consequences of the coronavirus pandemic in Albania.

For more information, please visit: https://eeas.europa.eu

The French renewables company Voltalia has won the contract for the construction and operation of another 100 MW solar plant in Albania, following its successful bid in a tender run by the Albanian Ministry of Infrastructure and Energy. The European Bank for Reconstruction and Development (EBRD) supported the tender by providing technical assistance.

In the frame of the communication that FIAA keeps with Diplomatic Bodies in Albania and further to the prior meetings held with the Ambassadors of Japan and Ambassador of Israel in Albania, FIAA’s President Dr. Alvensleben and Executive Director Ms. Jazoj had a meeting with H.E Mrs. Sophia Philippidou, Ambassador of Greece in Albania and the representatives of the Greek Trade Office. Main discussion of this meeting was focused on the current business environment and main issues that the business faces, along with views on the publication of the FIAA Manifest. The Greek Ambassador and her Team highlighted the importance of a better investment in the country along with easing of bureaucracy, fight against corruption and a pro-business environment. Among others, it was also discussed the close cooperation between FIAA and the Greek investors in the country. Greek investors are an important part of the entire foreign Investment flow in Albania and their interest will be in the light of FIAA actions and Lobbying initiatives.

In March, the IC held a discussion meeting on the main challenges and recommendations to fostering innovation in entrepreneurship, with a focus on the governance of the ecosystem, cooperation in the context of the “quadruple helix”, access to finance and digital economy. The meeting was chaired by the Minister of Finance and attended by IC members, and other representatives.