FIAA: Albania must implement the judicial reform

Tirana, Albania
18 April 2016

On April 14th, the Foreign Investors in Albania Association highlighted through a press release the importance of the implementation of the judicial reform in Albania. According to the General Director of FIAA, Marinela Jazoj, the community of foreign investors in Albania fully supports and considers as very important the implementation of this reform in the coming months for a number of reasons.

Full press release

The much needed reform of the Albanian judiciary and its accomplishment is at the very high attention of the Foreign Business Community in Albania. The existing and potential Investors feel optimistic that all Albanian Politicians understand the importance of the reform. We are all conscious that, every day, the delay of the reform to be realized is costing Albania, new investments, new jobs, exports growth and the start of negotiations towards EU membership.

We must admit that the key political and administrative reforms needed in Albania are progressing, but have yet to reach a stage at which EU accession negotiations could start. It is clear by the EU that if the country wish to launch EU accession negotiations, it first needs to intensify its reform efforts in key priority areas, such as the rule of law, judicial reforms, the fight against corruption and organized crime, public administration reform and fundamental rights which are all key elements for boosting foreign investments in the country.

To Albania, sustainable Foreign Investments are the key component for successful and sustainable economic growth and also as a part of a method to social improvement. We believe that every rational citizen in this country recognizes that the benefits of new investments in the country will advance technology transfer, increase employment, enhance business competitiveness and boost international trade. All these benefits will contribute to higher economic growth, which is the main instrument for alleviating poverty in Albania.

As foreign businesses operating in this country, we will keep stressing that the role and quality of Albanian institutions, is of paramount importance for the business activity. Control of corruption and formalization of economy, better rule of law, including respecting international arbitration rules as well as political stability are the best indicators of a good governance and institutional quality of this country.

We want to stay here, and continue to invest more. But in order to do so and for the country to attract new foreign investments, we need a business environment where the Rule of Law will be prevailing.  The realization of the reforms of the Albanian Judicial system will define to a large extend the economic conditions in the country for the years to come and will affect significantly our investment decisions today.

Photo: Chris Potter / Flickr