“What can Albania Adjust to Attract more Investments?”

TIRANA, September 18

The Albanian business ecosystem needs improvement in order to increase its productivity and attract more foreign investments. This was said by Ricardo Hausmann, Director, Harvard’s Center for International Development for Top Channel. Hausmann was part of a four-year project (2013-2017) launched in Albania focused on identifying the country’s binding constraints and proposing policy solutions that can relax them.
According to Hausmann, the Albanian government during its first term was able to successfully solve two major problems inherited from the past, the fiscal and the energy crisis. He said that the major foreign direct investments during the last year were in the energy sector.
Moreover, he added that there is much to be done for turning Albania into a more attractive destination in terms of tourism goals. Hausmann highlighted the option of a new airport in the south as well as the construction of small seaports and more investments in luxury tourism and five-star hotels.
He stressed that traveling to Albania by air is too expensive and the government must address this issue. Further on, attention should be paid to the agriculture sector and to the manufacturing sectors.
Speaking about a way for attracting more investments in the country, Hausmann said that in his opinion there isn’t something specific wrong in the tax system, however, the business ecosystem needs improvements. He mentioned the importance of explaining to foreign investors what the opportunities that Albania offers to them are and also the fight against bureaucracy. In the end, he said that a proactive policy on foreign investments is vital. Albania can’t wait that investors come on their own and thus, Hausmann says that a marketing strategy is needed to attract investors that are exploring other opportunities.

News Source: TCh

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