News

22/09/2016

FIAA strongly condemn the recent and violent criminal attack perpetrated against the Administrator of OMNIX Group in Albania, Mr. Fadi Mitri.

The event had occurred in a moment in which FIAA, the International Partners as well as the Government of Albania are intensively working together in order to improve the Business Climate and to attract new foreign investments, much needed for the development of the Country and the improvement of Albanian‘ standards of living. This is a clear case action committed by single out-of-Law-individuals which can put at risk the reputation of the whole Community.

FIAA, even assuming it is an “isolated case” and appreciating the timely reaction of the Law enforcement forces, urges the State Institutions to take the strongest possible measures against those “common enemies”. Moreover, FIAA takes the opportunity to remind how important was the approval of the Justice Reform, so effectively supported by the Association from the beginning.

FIAA, as a representative of foreign Businesses that apply the best practices and the highest ethical standards,   stands ready to cooperate with all the healthy components of the Civil Society and with the State Institutions in order to avoid these unfortunate events happen again in the future.

The European Commission is in process of preparation of the Country’s Annual Report for Albania. In this regard, FIAA as key stakeholder in the business environment of Albania has met with various representatives from DG ECFIN (Directorate-General for Economic and Financial Affairs) to specifically discuss on recent developments in the economic criteria of the country. FIAA has admitted the progress in different economic sectors and has highlighted views and experiences of the foreign investors in Albania stressing the two most important concerns of the Foreign Investors, Predictability and Stability of legal and tax system. FIAA acknowledges the several reforms the Albanian Government has undertaken in regards to the improvement of the Business Climate and is looking forward to their proper implementation and expected impacts.

The Association of Albanian Banks published the 2^nd edition of “CSR Report 2015 – Banks for Society”. This publication aims to present the activities of banks in the context of CSR according to the 17 Sustainable Development Goals, adopted in 2015 by the United Nations, 15 of which are classified as social activities undertaken by banks, although the 2030 Agenda for Sustainable Development was adopted on 25 September 2015. Only in 2015, banks have financed more than 1.1 million euro for activities affecting the sustainable development and around 200 thousand euro for sponsorship in the arts, culture and sport.

For more information please visit: http://www.aab.al/al/article_view.php?id=216

Another product of the Albanian – Slovak cooperation is the preparation of some recommendations which would help the Government to fighting against corruption in Albania. These measures have been addressed by FIAA to the Albanian Government as measures to improve fighting corruption through a new approach towards online transparency and good governance.

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For the first time in Albania, FIAA has prepared and launched a Booklet for Business Ethics, which can be used and adapted by all Albanian businesses and serve as a good guide for the entire business community. This Manual will guide the business in their daily activity to respect and implement legal and institutional framework, fair competition and protection of consumer interests.

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The monitoring process of the Albanian Investment climate remains one of the main objectives of FIAA. In June 2016, FIAA and Business Alliance of Slovakia presented the final outcomes of Project, “Improving Business Environment in Albania” during a Conference with Members of FIAA, Slovak Team, Slovak Deputy Ambassador and other related partners. The project was financed by the Official Assistance of the Slovak Republic.

During the conference were presented the results of the quarterly Business Environment Index and the Assessment of the Law impact in Albania based on the monitoring of trend and developments of the Business  Climate in Albania for January 2015 – April 2016 period.

The Ministry of Finances has prepared a Draft Fiscal Package for 2017, which does not foresee changes in the tax level, but only an improvement and simplification of tax procedures in the country. The Package was launched during the Meeting of the National Economic Council in June 8th. The Package of Procedures Simplification is considered by the Ministry of Finance as a New Chapter for the business climate. FIAA has complemented the Ministry for this simplified package, aiming to raise business consent and strengthen taxpaying behavior though self-correction of the tax responsibility but also consider as a major challenge the implementation of these measures. 

Improving the business climate remains the goal of reforms for the government’s economic program. A High Level Policy Dialogue on Business Climate and Investment Attractiveness” was organized in May 24th in AIDA’s new premises. Discussions involved the Prime Minister, Minister of Economy, representatives of the IMF and World Bank, foreign investors in Albania and local business leaders. Prime Minister Rama and his Cabinet Members highlighted a number of reforms the government has undertaken as well as associated challenges, and assured foreign entrepreneurs of the Government’s support. He expressed commitment to the continuation of reforms and pledged the Albanian Government will remain a reliable partner in improving the country’s business climate.

Justice Reform approval in Albania is considered by the foreign Investors as one the most crucial conditions which would ensure sustainability of their investments in the country.

In May 23^rd, the Foreign Investors Association of Albania in cooperation with the Delegation of European Union organized a Conference focused on the importance and necessity of the Justice Reform approval in Albania. Through this Conference, the foreign investors and diplomats reminded the politics of the fact that the delay of approving such a crucial reform, brings serious consequences on the business environment’s confidence as well as in supporting and attracting new foreign investments. At his opening word, the Chairman of FIAA stressed the importance of the Justice Reform Approval as a key precondition for boosting and attracting foreign investments in Albania. He also said that every day, members of FIAA encounter unfair court decisions and it can’t go like this for long. The correct implementation of the law is fundamental for both existing inventors and the new ones, Mr. Pedrazzi declared.

In early May this year, foreign investors were part of a roundtable with the Minister of Justice. Main focus of the discussion was on different issues that businesses are facing with the System of Justice in Albania which is a crucial element on well functioning of the business environment in the country.

During the recent years the foreign Investors have stressed out several problems they face related to Courts and Rule of Law in Albania. For them, a credible justice system is the alpha of the investments sustainability and growth in a country. During his word, the Chairman of FIAA highlighted the importance of the communication with the Ministry of Justice as the main representing institution of justice. He further said, that based on the results of the survey that FIAA had conducted on Business Environment, it came out that issues related with Courts and Rule of Law were at the highest concern for businesses. And therefore, such a roundtable would give the opportunity to both business and Minister to address and discuss on the most concerning issues.