The Albanian private sector, public authorities and financial institutions will strengthen dialogue and cooperation in order to improve the business climate and promote domestic and foreign investment in the country. This is the main goal of the Investment Council, the latest project launched in cooperation with international financial institutions during a ceremony held in Tirana on Wednesday.
The Council, an institution set up by Albanian authorities with the support of the European Bank for Reconstruction and Development (EBRD), was presented as a pilot project in Albania. The event was attended by Albanian senior authorities, EBRD’s officials as well as representatives from the business community. This project, launched as part of the EBRD’s Investment Climate and Governance Initiative (ICGI), aims at enhancing public private dialogue and encouraging concrete action to strengthen the business climate in Albania.
The first meeting of the Council gathered key decision-makers and stakeholders in the Albanian capital. They discussed impediments to investment and ways to promote domestic and foreign investment.
Prime Minister Rama addressed the participants saying that the Investment Council is a milestone as well a tangible result of the efforts started 18 months ago focused on the identification of complex problems in the business sector.
Moreover, the Premier declared that the Albanian Parliament is going to scrutinize and adopt a new law on investment.
“This law consists of a complete new legal basis that is going to foster investment freedom. On the other hand, it will increase predictability in the investment process,” Premier Rama said, while he added: “We are convinced that this law is going to open a new chapter on investment and investors in Albania.”
“We are proud to support the launch of the Investment Council. This is an important step forward and we are happy to see the Albanian authorities tackle head-on the challenges that the country faces. Improving the business environment is one of the priorities of the EBRD’s work in Albania and it is an integral part of everything we do,” Head of the EBRD Office in Tirana Christoph Denk said.
The work of the Council is supported by a Secretariat, an independent body of professionals selected and contracted by the EBRD to directly engage with the business community. The initial funding for the Secretariat is provided by Italy.
News source/photo credits: ATA