News

The New Law on Tourism was discussed with the stakeholders and approved in late July 2015 by the Parliament. The new law on tourism provides a range of changes for the tourism sector, aiming to transform it into one of the most important economy sectors in the upcoming years.

According to the new law, a foreign company chosen by the Ministry of Tourism will evaluate, classify and standardize businesses operating in the tourism sector in Albania, by issuing certificates of evaluation for each business (such as restaurants, hotels, guesthouses, etc). Another novelty of this law is the vast support and facilities provided to strategic foreign investors in this sector.

Various stakeholders in the Agroprocessing, Tourism and BPO Sectors in Albania have been called by FIAA to be part of discussions on Albanian Potentials for Investments in these sectors.

These meetings are conducted on the framework of the project on Attracting Investments in Albania which aims the identification of the main potentials which are considered as attractive for new/more investments in the country.

On July 27^th 2015, the Albanian Parliament approved Law no. 77/2015 ” On amendments and additions to Law no . 125/2013 “On Concessions and Public Private Partnerships” , changed.

Under this law, public private partnership can be accomplished in one of the following forms:

– As public works concession;

– As public service concession;

– As public works contract and

– As public service contract.

FIAA has recently celebrated the 15th Anniversary of its creation. Foreign Business Community members and the Highest Representatives of the Albanian Government were gathered in a special place and a friendly atmosphere. On this occasion, the Members who have trusted FIAA for 15 years, were given special Awards in the presence of the Prime Minister of Albania.

    The awarded businesses who have accompanied FIAA throughout its Journey are Albanian American Enterprise Fund, Coca Cola Bottling Shqiperia, Fushe Kruje Cement Factory, Vodafone Albania, Deloitte Albania, KPMG Albania, Intesa Sanpaolo Bank, Tirana Bank, Procredit Bank and Boga Associates.

Special thanks go to the Sponsors of the 15th Anniversary Event: First Investment Bank,  Bankers Petroleum Albania and INTERSIG- Vienna Insurance Group.

Thank you for your continuous trust!

Being in an era of different undertaken economic reforms, during March –April 2015,  FIAA conducted the “Business Environment” survey in cooperation with members of the association as well as other partners (such as Foreign Embassies and Chambers of Commerce) consisting in 91 successful face to face Interviews. The main focus was on gathering feedback and opinions on the business environment in Albania. Survey results will help FIAA identify the problems and challenges faced by investors, which should be addressed for government policies in order to improve the business environment in the country.

INTPOW, a networking organization in Norway founded to promote cooperation between Norwegian and foreign players in the renewable energy industry in June 3rd made a business visit to Albania to get informed on the new business opportunities in the Renewable Energy.

Part of the agenda, was a Meeting with the Minister of Energy and Industry Mr. Gjiknuri and his Team.

The New Law for Strategic Investments was recently discussed with the stakeholders and approved. As stressed by Minister Ahmetaj during the session of the Economy Parliamentary Commission, the new law is expected to increase investments in the mining sector, transport, tourism and agriculture.

The new law on foreign investments predicts the administrative procedures and regulations, which will facilitate and accelerate the investment procedures. The law aims to attract and boost public and private investments and offer more easing procedures for local and foreign investors.

The Government of Albania (GOA) has taken good steps to creating new Technical and Economic Development Areas (TEDAs), considering this a highly effective and competitive instrument for promoting domestic investment and attract foreign investments.

According to the Law, the term “Technical and Economic Development Areas”, means “Free Zone” with respects to the customs code of Albania.

“Attracting FDI-s in Agro processing, Tourism and ICT”

FIAA and RISI Albania organized the Launching Conference of a Joint Initiative on “Attracting Foreign Investments in Agro-processing, Tourism and ICT Sectors”. This initiative is a joint cooperation between FIAA and RISI Albania with the main goal to promote the Albanian potentials in the sectors of Agro-processing, Tourism and ICT to all those foreign Investors who are interested to invest in Albania.

This cooperation consists in the close collaboration among stakeholders, such as: Albanian Local Businesses, local Business associations, Bilateral Chambers of Commerce, AIDA, Ministry of Agriculture as well as Foreign Embassies in Albania. The Action is funded by SWISS EMBASSY in Albania and it is a co-financed two years initiative between RISI Albania and FIAA, where RISI is the main supporter.

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The shadow economy is recognized as one of the biggest challenges for economic growth in Southeast Europe. The conference aimed to create a platform for cooperation to suppress shadow economy and establish the mechanism in the form of regular annual meetings between all key actors. The conference has provided an opportunity to agree the agenda for combating shadow economy – one of the major obstacles for development of business sector and better climate for foreign investments in Southeast Europe.

The long-term effects on the economy and options for market control and protection through efficient and fair tax and customs policies, as well as labor and market policies were the key issues and topics that were addressed at the conference.

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