News

April, 2018/Tirana. The Bank of Albania and the EBRD launched the EBRD Transition Report 2017-2018, EBRD’s annual update on reform progress and economic developments across 37 countries from Central Europe to Central Asia and the Southern and Eastern Mediterranean.

According to the Report, Albania’s economy grew in line with comparators pre-crisis, but lagged behind post-crisis until recently. The report – Supporting growth– focuses on the challenge of keeping progress with reference to the experience of average incomes economies. The report also presents the continuity of the structural reform and a new evaluation of the regional countries progress conducted by EBRD based on their transition to sustainable economies.

On April 26^th 2018, the President of FIAA Mr. Tom Kristian Larsen received in the association premises the Ambassador of Japan in Albania, H.E Mr. Makoto ITO. The purpose of the visit was the presentation of respective Institutions and their role in Albania.  During the meeting it was discussed on the present economy of Albania along with the actual business climate, with particular focus on new foreign investments, cooperation between Albania and Japan and justice reform process. Japan Programs have been a valid supporter to Albania and the newly opened Embassy is expected to have even a bigger role and impact  in the near future.The cooperation between the two countries should further expand. To this regard, H.E Mr. Ito reiterated that FIAA is a strong business organization, supporting investors and a valuable partner for all the foreign representative bodies in Albania.

Foreign Investor Association in Albania announces the outcome of the Assembly Meeting of its Members, during which three new Board members were elected representing the main foreign companies in the country such as STATKRAFT, SHELL and ANTEA Cement. The Assembly voted also for the election of  the FIAA new Chairman, Mr. Tom Kristian Larsen, who is the Chief Executive Officer of STATKRAFT in Albania.

In March 6th, FIAA held the Annual Assembly Meeting of the Members and conducted election process for three new Board Members including the Appointment of the Chairman of FIAA for the next two years to come.

In his opening speech, the outgoing President of FIAA, Mr. Silvio Pedrazzi highlighted some of the main achievements and challenges he had during his Chairmanship of three years within FIAA and emphasized the importance of the Organization as the best Instrument for the Foreign Investors in Albania. Mr. Pedrazzi did also thank the FIAA members for the support and trust given to him, expressing his will to further continue his mission on representing FIAA as Member of the Board of Directors.

The World Bank Group (WBG) is supporting the Berlin Process and the Trieste Declaration of the WB6 and the EU in the establishment of a regional mechanism to coordinate policies with the goal of increasing investment flows as well as firm level investment leads and commitments within the six Western Balkan economies (WB6) (Albania, Bosnia and Herzegovina, Kosovo, Macedonia (FYROM), Montenegro, Serbia). The six economies have undertaken to identify and eliminate the main obstacles derived from regulations, measures or governmental actions that prevent or hinder the expansion of foreign direct investment within the region.

The Albanian Secretariat of Extractive Industries Transparency Initiative (EITI) organized on February 28th, 2018 a Conference on “Presentation of the EITI 2016 Report and Promotion of Transparency in the Natural Resources Utilization in Albania”. The publication of the EITI 2016 Annual Report which aims at promoting Transparency in the Governance of Natural Resources in Albania, marks the conclusion of the National Secretariat’s annual activity and it is the result of the cooperation between MSG and Interest Groups. FIAA-s Executive Director, present in this Conference delivered a Message on the importance of the Transparency and Accountability of the use of Natural Resources of the Country as an important factor for the attraction of the Foreign Investors.

Albanian Investment Council held on 13^th of February a Meeting chaired by the Minister of Finance and Economy, Mr Arben Ahmetaj. In the agenda of the meeting was the presentation of the main findings of the Secretariat on the functioning of the e-Permits Platform, as part of the Deregulation Reform, as well as the launching of the process for the preparation of the new unified law on investments by the International Finance Corporation (IFC).

On February 13th, the appointed FIAA representatives in the Multi-Stakeholder Group of Extractive Industry Transparency Initiative (EITI) met with the Head of Albanian EITI Secretariat, Mr. Ardit Kamberi .

The aim of the meeting was to discuss on the perspectives of the objectives of EITI Secretariat and the role of the Private Sector in the process.

Mr. Kamberi praised the commitment shown by the representatives of the companies in the EITI reporting process in Albania, considering this group as an essential pillar of the substantial triangular cooperation (Government Institutions, Companies and Civil Society) in the activity of the Albanian EITI.

The novelty of 2016 EITI’s report is the inclusion of the Energy sector in the EITI reporting process, reconfirming the comprehensive nature of the process in the exploitation of natural resources.

FIAA’s Chairman, for the third time has been officially appointed as a Business Member in the Albanian Investment Council. Investment Council is a platform aiming to support the creation of business enabling environments by promoting better diagnosis of investment climate problems and improved policy design and by strengthening the position of reformers within governments.