TIRANA, October 2
Albania attracted more Foreign Direct Investments (FDI) inflows to Albania during the first half of 2017 (H1) from western countries. Detailed data from the Bank of Albania (BoA) on FDIs according to their countries of origin confirmed that Switzerland was the first major investor during H1. Albania received an estimated Euro 87 million in FDI from Switzerland mostly during the first quarter of the year. Moreover, the Netherlands rank second with Euro 77 million and Austria ranks third in the list of countries with the largest share of FDI inflow into Albania. The country received Euro 44 million from Austria during H1. They have invested in the energy sector, mainly in Ashta Hydro Power Plant that is being constructed by Verbund Company.
Further on, France ranks fourth with an estimated €40 million in FDI. Some €35 million were invested during the first quarter of 2017 in the construction works that French companies are undertaking for the Trans Adriatic Pipeline (TAP). Meanwhile, Greece and Italy rank fifth and sixth with respectively €29 and €22 million.
Countries with the largest share of FDI inflows into Albania during the recent years
During the recent years, Greece has been the country with the highest FDI inflow into Albania. Albania received an estimated €1.2billion from Greek companies during the years mostly in the telecommunication industry.
The Netherlands ranks second regarding their FDI stock in Albania for the recent years, So far the country has received €817 in FDI from Dutch investors.
Canada ranks in the third position due to the activity of Bankers Petroleum, an oil and gas exploitation company that started exploration in Albania since 2014 in Patoz-Marinza area, the biggest onshore oil field in Europe. The company agreed to be acquired by affiliates of China Geo-Trade Petroleum group in 2016.
Switzerland ranks fourth with €647 million FDI mostly in the energy sector.
In the meantime, even though Italy is the main trade partner of Albania and also has the highest number of foreign enterprises in the country it ranks fifth in terms of FDI stock. This is explained by the fact that Italian companies in Albania I general are small and they focus on the footwear and manufacturing industry. During the first half of 2017, Albania received an estimated €632 million in FDI from Italy.
Moreover, the list includes Turkey, Austria, Cyprus, and France.
News Source: monitor