TIRANA, October 1
Potential foreign investors that require for information by the Albanian Investment Development Agency (AIDA), are interested in a wide range of sectors such as energy, tourism, manufacturing, agriculture, and Business Process Outsourcing (BPO). Representatives of the institution said for the Albanian Telegraphic Agency (ATA) that Albania is an attractive and growing market that offers steady economic, political, and juridical systems, a liberal economic framework, and adequate conditions for doing business.
The Albanian government is undertaking a series of new reforms that guarantee the law enforcement and to establish an internationally competitive business environment.
The new economic model has a focus on production and exports. In the meantime, the new structural reforms aimed at improving the business climate in order to have an impact on the growth of foreign investments in Albania.
According to AIDA the competitive labor cost, the young and educated population, competitive taxes and invectives, the optimal geographical location, the free economic areas, and macroeconomic stability are key factors for attracting new foreign enterprises to Albania.
The law on strategic investments entered into force on January 1, 2016. The law provides new effective methods and accelerated procedures for strategic investors interested in the following sectors: energy and mining, transport, telecommunication, infrastructure and urban waste management, tourism, agriculture and fishing, economic zones, and areas of development priority.
Foreign Direct Investments (FDI) were among the key elements that had an impact on economic growth during the last five years. They were strongly supported by two major energy projects, the Trans Adriatic Pipeline (TAP) and the Hydro Power Plants (HPP) in Devolli River. Foreign investments increased by 19 percent during the first half of the year compared to the same period of 2017.
News Source: ATA