TIRANA, December 21
The Foreign Direct Investment (FDI) inflow to Albania from the European Union (EU), by the end of 2017 was Euro 5.45 billion, Eurostat confirmed. The volume of FDI inflow from the EU member countries to Albania accounts for 47 percent of the country’s Gross Domestic Product (GDP), Monitor magazine reported on Thursday. This is the highest rate compared to the other countries of the region. The list continues with Montenegro where FDI inflow from EU accounts for 37percent of the GDP, Serbia 36 percent, and Macedonia 24 percent. Meanwhile the Balkan country with the lowest FDI inflow from the EU in Bosnia and Herzegovina. EU FDI inflow to BH accounts for 15% of the GDP.
Moreover, official data from the Bank of Albania (BoA) confirm that Greece is the largest EU investor in Albania. The Greek stock of investment was Euro 1.2 billion at the end of 2017. Investments in the telecommunication and banking sectors have a major weight.
The Netherlands ranks second with an FDI stock of Euro 827 million invested in Devolli Hydropower projects in Banja and Moglica.
Italy ranks third with a Euro 610 million FDI stock that includes investments in the financial, BPO, and manufacturing. Austria ranks fourth with Euro 447 million mostly invested in the energy sector. French joined the top five with FDI stock of Euro 178 million due to Sipecapag Company, working in the Trans Adriatic Pipeline (TAP) project.
The latter, which accounts for a total FDI inflow of 1.5 billion, is registered by BoA as a Swiss investment although there’s a group of countries including Italy.
News Source: Monitor