News

Foreign Investors, International Institutions and other Stakeholders in Albania were gathered to discuss the main findings of the FIAA Business Environment Survey. The Minister of Economic Development, Tourism, Trade and Entrepreneurship, Mr Arben Ahmetaj was present in this roundtable, discussing and interacting on the most concerning issues of the Survey’s Business Environment Elements. Minister Ahmetaj expressed that Albanian Government considers as highly important the elements of FIAA survey, which are now part of the Discussion Agendas from the relevant institutional structures.

Present Foreign Investors expressed their concerns toward informality measures in Albania, tax audits and Inspections. One of the raised issues was frequent tax administration controls towards businesses, even in those audited by the “Big Four” in Albania.

By mid September, FIAA Board of Directors met Mrs Romana Vlahutin, Ambassador of EU Delegation in Albania. The Chairman Pedrazzi, shared with the Ambassador some of the recent actions of FIAA and expressed the necesity of cooperation with the European Delegation in most of these actions.

FIAA representatives presented to the Ambassador the newest initiative of FIAA, the establishment of the European Integration Committee and discussed on mutual collaboration related to Legal Compliance with EU acquis and EU legal Framework.

September 2015

“Fighting the informality is the only way to prevent the further increase of the taxes”

Foreign Investors Association of Albania with a considerable presence of 15 years has always been an active Partner of the Government and International Institutions of the country.

FIAA stands among the most important players which in cooperation with the Government enables the common goal of making Albania a better environment to invest and operate.

During September 2015 the Ministry of Economic Development, Tourism, Trade and Entrepreneurship organized the second roundtable on Technical and Economic Development Areas (TEDA), headed by Minister Ahmetaj and with the participation of representatives from the diplomatic body in Tirana, representatives of chambers of commerce and international partners.

During this roundtable were presented the new legal framework on the TEDA, the bidding procedure for TEDA Spitalla and the criteria and deadlines for the evaluation of bids.

The new law on strategic investments foresees that Strategic investors with a special status will be considered Businesses of foreign businessmen whose investment in Albania will be of EUR 1ml to EUR 50 ml worth.

The new law provides several facilities for strategic investors related to bureaucracies and other aspects during the implementation of their investment in Albania.

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.