TIRANA, February 21
Albania ranks among the destinations that Italian enterprises would suggest for investing during 2017. According to economia-italia.com, Albania ranks beside countries such as Cuba, Greece, Great Britain, Morocco, and Thailand. The Association of Italian Chambers of Commerce Abroad has drafted a detailed profile for every country, Business Atlas 2016. It includes information and suggestions on the most interesting sectors for investors in each of the countries.
The report says that currently, 400 Italian companies are registered in Albania. Moreover, it says that the situation is favourable and one of the best sectors to invest is energy. So far, the value of Italian investments in this sector is Euro 3 billion. Meanwhile, the Trans Adriatic Pipeline (TAP) project is considered a good opportunity for Italian companies given the fact that both countries have signed an agreement.
Regarding short-term investments, some of the best sectors are agriculture, tourism and the garment and footwear industry.
The report highlights that investing in Albania is possible in sectors such as energy, tourism, transportation, and mining. It also points out that even the garment and footwear industry improved.
“The labour cost is too low. The average monthly wage is about Euro 300. The profit tax is 15%.
Moreover, it also stresses that Albania has a high level of corruption and investors must take into consideration this factor.
“Albania is turning into a Cuba in the Mediterranean Sea. It is like Cuba was to the US, a country of great natural beauty, with low taxes where sharp-witted investors can dare to invest. Albania is a good country for investing in the tourism industry and other sectors related to it,” the report said.
News Source: Monitor