Albania’s Business Sentiment Weakens, AmCham Survey Finds

TIRANA, June 30

The business climate in Albania declined significantly during 2019, the business index from the American Chamber of Commerce confirms. Based on the perception of the AmCham members, the business climate in Albania in 2019 declined by 10.35 points compared to the previous year. Over 66 percent of the members said that the business climate in the country in 2019 was unfavorable or very unfavorable. Moreover, 26 percent gave a neutral response, while only seven percent said that the business climate was positive.
The findings of the index were unveiled on Monday. The AmCham President Enio Jaco said in the index preface that 2019 are concerning.
“The Index this year represents one of the lowest perceptions of your confidence since 2012 when we first started the Index. This is significant because if the trend continues, it may present real dangers to the economy,” Jaco said.

Meanwhile, the US Ambassador to Tirana Yuri Kim pointed out in her letter to the chamber members that the results of the survey were disappointing but not surprising. She highlighted that to nurture necessary economic growth, the members’ concerns about the internal political climate, unfair competition, corruption, and challenges finding qualified staff must be addressed thoroughly and quickly.

Based on the survey, the internal political climate, monopoly situation and unfair competition, lack of qualified workforce, the performance of the economy, and the overall business climate were the five top concerns.

Source/Photo Credit: AmCham