News

The EITI Standard requires that the government, extractive companies and civil society are fully, actively and effectively engaged in EITI implementation. The Secretariat is seeking views from relevant Stakeholders! Please read the Link and give your views!

https://www.albeiti.org/site/en/albanias-2021-eiti-validation-call-for-views-on-stakeholder-engagement/

FIAA’s Executive Director Ms. Marinela Jazoj and Statkraft Representatives have conducted a series of meetings with Mrs. Gunn Vick, Director of Hydro Power at NORWEP (Norwegian Energy Partners) exploring potential cooperation and opportunities in the region. Both Institutions share common values and interests which would help both to create synergies for respective memberships and potential partnerships among businesses in Norway and Albania. FIAA and NORWEP will soon work towards a potential Conference with Companies and institutions from both countries where will be shared experiences and know-how on the Renewable energies as well as grounds for new potential investments.

At the occasion of the appointment of the New Minister of Finance and Economy, FIAA’s Board Representatives, President Mr. Alvensleben, Deputy President Mrs. Gegprifiti and Executive Director Ms. Jazoj were received for a courtesy Meeting by the New Minister, Mrs. Delina Ibrahimaj.

The meeting was mainly focused on the business climate in Albania, Reforms in process and the endorsement and support to the publication of White Book 2021-2025, a document providing recommendations from the business community on various obstacles business has with current legislation, fiscal issues, etc.

FIAA’s President Mr. Alvensleben and Executive Director Mrs. Marinela Jazoj met with Mr. Luigi Soreca, Head of the Delegation of the European Union to Albania.

Ambassador Soreca and Chairman Alvensleben highlighted the long cooperation among the two institutions, the respective roles and contribution at the best of country’s business environment and reinforced the will to continue even a stronger cooperation in the near future. Among the discussions, was also the endorsement and support to the publication of White Book 2021-2025, which was highly welcomed by Ambassador Soreca, strongly endorsing the role and Work of FIAA on the Business Environment in Albania.

In frame of the FIAA’s commitment to improving the business climate in Albania, the Tax and Legal Committee ‘Experts under FIAA, have prepared the first Draft of the White Book Albania 2021-2025. The draft is now under broader consultations with more businesses, members of FIAA and it is treating a significant part of the legal and tax framework in the country by addressing the most concerning issues in the doing business environment, along with proposed solutions and recommendations for each area of interest.

Chapters of the White Book draft cover mostly the: Tax Law; Business Registration Law; Banking Regulatory Framework; Corporate Law; Concessions Law; Energy Renewables Law; Bankruptcy Law; Fiscal Regime on Hydrocarbons in Albania; Hydrocarbons Law; Employment Law; Law on Invoice and Turnover Monitoring System (Fiscalisation Law); Pension Fund Law in Albania; Residence and Work Permit Law; Carbon Tax/Excise Tax; Trademarks Protection as well as Waste recycling Management.

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.