TIRANA, February 6
Foreign direct investments to Albania showed a positive trend during the recent years. Based on the data provided by the Bank of Albania (BoA), FDI inflow to Albania during 2015 was higher compared to 2014. More specifically, FDI inflow during 2014 was Euro 869 million while in 2015 it was Euro 890.
Moreover, FDI inflow for the third quarter of 2016 is €286 million, while during the same quarter of 2015 it was €255million, which means that FDI during Q3 of 2016 increased by 12 percent.
Further on, a positive trend of FDI inflow was seen from the second quarter to the third quarter of 2016.
In the meantime, even the number of foreign capital firms in Albania increased. According to the data provided by the National Business Centre, some 1,323 companies from Italy, Greece, Turkey and other countries were registered during 2016. The presence of foreign companies in Albania during 2015 increased by 25 percent.
Albania is the cheapest country for investments in the EU
Albania is the cheapest country to invest in Europe. Based on comparative data by EUROSTAT, the cost of investing in Albania accounts about 55 percent of the average cost in EU member countries. Regarding the calculation of investments’ cost, EUROSTAT includes investments in different sectors starting with construction, engineering works, transportation, information technology, etc.
An index is created based on all these indicators and the average level in the EU is considered a reference value.
In most of the cases, the lowest investment costs are typical for countries with problems related to financial, social and political fragility. This explains why the countries with the highest investment costs are the countries with the highest standards of living such as Norway, Switzerland, Iceland, and Sweden.
News Source: ATA
Photo Credit: jphotostyle