News

During its May Meeting, Albania Investment Council (IC) discussed on “ Investments and Legal Security on Property”, a meeting chaired by the Minister of Finance and Economy, Mrs. Anila Denaj but with presence of the Key Relevant Stakeholder, Mr. Artan Lame as Head of the Newly created State Agency of Cadastre. In support of this meeting, the Investment Council hold a series of Consultation Meetings with Business Organizations, with FIAA as was one of the Contributors with presented Concerns and Recommendations on the property issues.

In this meeting, FIAA was represented by its official appointed Member in the Council, FIAA’s Chairman Mr. Tom Larsen.

For more information please visit: https://www.investment.com.al/investment-council-meeting-on-investments-and-legal-security-on-property/

The Property Issues were at the focus of a discussion Meeting during a round table with several Members of FIAA and Investment Council Secretariat. The discussions intended to address property-related issues from the investors’ point of view and the respective legal certainty that the investors should have in Albania. Most of the identified concerns were related to:

• High Opportunity of Social Conflicts and Overlapping of Ownership Titles;
• Failure to develop a structured agricultural market and the lack of an insurance scheme;
• No access to Financing (Grants / Credits) by the owners;
• Very Low Property tax related to income;
• Reduced opportunity for land consolidation and agro-business development;
• High unemployment at the regional and national level due to lack of investment;
• Very low level of Foreign Direct Investments in the property/land sector.

Ministry of Finance and Economy in cooperation with the Secretariat of Albania Investment Council held an open discussion with businesses from the sectors of agri-processing,  active inward processing regime (fason regime) and export with regard to the 2019 VAT Reimbursement Strategy and the Fight against Informality. The meeting was chaired by the Minister of Finance Mrs. Denaj and attended by the General Tax Director, Mr Enton Duro.

The Extractive Industries Transparency Initiative – EITI, is an international initiative with main object to develop and implement a mechanism for declaring revenues earned from the use of Natural Resources through Extractive Industries, publishing of these data in an understandable format by everyone and their oversight by providing to the general public information on public revenue and expenditure, thus, contributing to a public debate and the establishment of mechanisms for the good governance of these revenues to the benefit of communities.

The Extractive Industries Transparency Initiative – EITI, is an international initiative with main object to develop and implement a mechanism for declaring revenues earned from the use of Natural Resources through Extractive Industries, publishing of these data in an readable format by everyone and their oversight by providing to the general public information on public revenue and expenditure, thus, contributing to a public debate and the establishment of mechanisms for the good governance of these revenues to the benefit of communities.  This is accomplished through the establishment and functioning of a Multi Stakeholders Group (MSG), which includes government representatives, companies operating in this sector, and full, independent, active and effective participation of civil society, who are committed to work together in order to develop and promote the transparency and good governance of this sector.

Foreign Investor Association in Albania hold the Annual Assembly Meeting during the evening of March 20^th at Mak Albania Hotel. During the Meeting, the Chairman of FIAA Mr. Larsen addressed some words by highlighting the main achievements and challenges FIAA had during the 2018. He also congratulated the Board Members of FIAA for supporting the FIAA mission and their commitment in particular the Members whose mandate came to the end. The Meeting continued with a Presentation of the activities and actions of FIAA during the year along with the respective financing reports. The second part of the  Assembly works was the introduction of the Candidates running for Board Member and their election. The candidates were representing main foreign companies in the country like SHELL, Bankers Petroleum, Colliers International and Kalo & Associates.

On March 5^th the Board of Directors of FIAA had their regular Meeting during which they meet with the New Minister of State for Protection of Entrepreneurship in Albania, Mr. Eduard Shalsi.

The Board welcomed Mr. Shalsi in the premises of FIAA and addressed to him different obstacles that the Foreign Investors are facing in Albania. They highlighted the value of the White Book Document FIAA has prepared, which, can be a good starting point for the Minister to follow his agenda as an Advocate of the Business and Business Climate.

Prof.Dr. Perparim Alikaj

Member of MSG, ALBEITI

Chairman of the Mining, Oil and Gas Committee of the Foreign Investors Association of Albania (FIAA)

Transparency is the showcase by which a society allows appreciation of one of the fundamental human rights and freedoms, as it is the right to be informed. As such, it has been constantly in the focus of public opinion request to become familiar with the creation and distribution of material goods at national level.

Early this year, FIAA hold its yearly ceremony “Wishes for a Prosperous Business Year ahead”! This event brought together a large part of the Foreign Business Community in Albania, representatives of the diplomatic bodies along with several representatives of the state institutions in the country.

During the Event were introduced as Guests of Honor  the newly appointed Ministers respectively, Ms. Belinda Balluku in the quality of Minister for Infrastructure and Energy and Mr. Eduard Shalsi as  Minister of State for the Protection of Entrepreneurship in Albania.

The FIAA’s President, Mr. Tom Larsen expressed some remarks and his gratitude to the members who have trusted FIAA throughout its existence and have stayed together for more than 18 years.

Albania Tourism Investment Summit, the Official Summit in the Albanian Tourism industry was launched in Tirana on 27th of November, organized by FIAA in close cooperation with the Ministry of Tourism and Environment and under the auspices of the Prime Minister of Albania. This Summit was an ideal opportunity platform for discussion on challenges and developments in tourism, for in-depth discussions, meeting national and international key players and experts, exchanging ideas and following up stimulating conversations around the next big trends driving this sector. The Summit brought together important stakeholders in the tourism industry from Albania and abroad, who find this country an excellent destination for the start of new tourism projects and approach of international Operators and Hotel Brands.