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CESPIC is delighted to announce the release of the report ALBANIA IN THE EYES OF THE WORLD 2020. ‘Albania in the Eyes of the World’ is an annual report that collects and analyses different socio-economic metrics drawn from specialized reports and studies. In particular, the aim of ‘Albania in the Eyes of the World’ is to describe where Albania currently is and where it is heading in different social, economic and political fields. In brief, ‘Albania in the Eyes in the World’ is intended to be a kind of vademecum providing guidance on Albanian development path. In only one document it is possible to find a set of information whose combination eventually turns out to be extremely valuable for students, scholars, journalists, policy-makers, entrepreneurs and investors.

Ministry of Finance and Economy (MFE) is implementing last year of the Action Plan for 2014-2020 of the Business Development and Investment Strategy. MFE with the support of GIZ ProSeed project, in February 2020 started the work for drafting the new Business Development and Investment Strategy (BIDS) 2021-2027.

In this frame, in January 20^th, 2021 it was organized a consulting meeting with business organizations discussing on the proposed measures in the Draft. Present in the meeting was the deputy Minister of MFE and international experts that have supported drafting of the strategy, which will serve as a key instrument for policies to foster business and attract investments in Albania, basing on the competitive advantages that Albania offers.

As of January 1^st, 2021, the Albanian Government started the implementation of the Fiscalization. Fiscalization in practice, appears to be a concerning issue for businesses in overall, with many gaps for clarifications and need for support in this transition process.

In this frame, FIAA has been deeply involved in the respective discussions on clarifying various raised issues and questions from members through the great cooperation with the Big 4s in Albania (Members of FIAA and the Tax Council) and General Directory of Taxes experts. The Questions and Answers process on various raised issues is still going on and FIAA is following up through regular communication with the Tax authorities.

FIAA Board of Directors held its first meeting in early January where among others was bid “Farewell” to two Board Members who further continue their careers with other challenges, respectively Mr. Rohan D’Souza the Chairman of Shell Albania who was promoted to another country, and Mr. Perparim Kalo who recently was elected as a Judge in the Constitutional Court of the Republic of Albania.

The Board recalled the year that Albania and the entire world went through, with all the difficulties the business coped with and also shared the insights and perspectives from the various industries FIAA represents and not only.

During December ’20, the Ministry of Finance issued an Instruction in the Tax Procedures, where Account-blocking orders were foreseen to be issued for debtor businesses and for shareholders and administrators. In this ambit, Meeting discussions have been hold among the Board Members and the Tax & Law Committees of FIAA, and we prepared a Letter to the Minister of Finance and Economy asking for the Review of the “Instruction in the Tax Procedures. The Ministry had a quick reaction on considering the concerns that business community raised and decided to amend the instruction.

The European Commission team chaired by Mr Javier Menendez Bonilla from DG NEAR, and Andrew Williams and Christina Vanghele from DG NEAR, Sarah Jurreit from DG ECFIN and Kamil Valica from DG Employment together with business representatives and stakeholders in Albania discussed during a virtual meeting on December on the business environment challenges, features and opportunities for the coming years.

FIAA’s Executive Director, Ms. Jazoj participated and contributed with FIAA-s insights on the Albanian economy, key challenges for business and some recommendations for improvements and of the business climate and economy.

In the ambit of industrial talks with members, FIAA held another interesting meeting with representatives from the telecommunication and Information Technology industries.

The meeting was very fruitful as it brought more insights from the invited participants, sharing their experiences during the Pandemic, difficulties, challenges, as well as learned on the industry concerns and their perspectives on the current doing business in the country.

During the recent visit of Keith Krach, Under Secretary for Economic Growth, Energy, and the Environment, the United States and Albania signed a historic memorandum of economic cooperation between the two countries. This memorandum is considered a significant achievement in elevating the economic relations between Albania and USA. The US firm – Bechtel signed an agreement for the construction of the Skavica hydropower plant, which seems to be the largest contract ever awarded to a sole U.S. firm, is a very good start.

FIAA’s Chairman and Executive Director meet the new Chairman of Shell Industries in Albania

Chairman and Executive Director of FIAA have welcomed to a business network Mr. Ante Frens, successor of Mr. Rohan D’Souza, Chairman of the Shell Industries in Albania and FIAA Board Member. Shell Companies in Albania have joined FIAA from the very beginning and represent good business practices and ethics in our country. Shell Companies have served continuously in the FIAA Board and supported with their experience and know-how.  The new Chairman was introduced with other FIAA members and was briefed on the mission and work of FIAA in Albania.

In the ambit of FIAA industrial talks, the Board Members have meet to share concerns and perspectives on the current doing business in the country. Representing different industries in the country, the Board have shared their experiences and perceptions coming from banking, consultancy, real estate development, oil industry, infrastructure and telecommunication.

In view of the fact that Albania is now preparing for the Electoral Run of the political Parties, the Board of FIAA considers as very important the communication with the members, the Government, Opposition and other Players in the political Arena, stressing stronger than ever, improvement of the Business climate in the country.