Albania will pay $1.7 ml to improve the business climate

Albania will pay $1.7 ml to improve the business climate

Rules for doing business in Albania are about to change due to an incentive by the government to improve the legislation framework in this regard, according to official sources. The government has asked to be assisted in this process by the International Financial Corporate, a financial body of the World Bank.

Albania will pay $ 1.7 ml for consultancy services offered by the IFC with the goal to strengthen the private sector in the country, mainly in the field of trade, investments, competition and agro business. The collaboration between the government and the consultancy organ will last until 2019.

The agreement compiled for this assistance program from the IFC foresees that the IFC will also offer consultancy and assistance in the property permissions’ reform, for the establishment of an efficient and unique ticket office for the registration and licensing of new businesses, for the improvement of laws and policies related to foreign investments and for a strategic plan for the attraction of foreign investments in the agro industry field.

The improvement of the business climate in Albania is a step forward in attracting more foreign strategic investments in the country and will provide an improved legal framework of doing business in the country.

News source: Scan TV
Photo credits: Wikimedia


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