UN: Albania Received Highest Flow of Foreign Investments

UN: Albania Received Highest Flow of Foreign Investments

A latest report issued by the United Nations (UN) regarding foreign investments in Western Balkan countries, shows that Albania is on top of the list with the highest amount of money invested by foreign investors.

Foreign direct investment increased during the past year in all six Western Balkan countries, according to the UN, with a total of Lek 3.7 billion, but one third of this fund, or 1,225 million USD, were invested in the Albanian economy. According to the UN, Albania has had the highest number of foreign investments for two consequent years.

However, this result shows the strong drop of foreign investments compared to the period before the economic crisis that started in 2008. Data show that compared to 2008, foreign investments in Western Balkan have dropped with 47 percent. According to the UN, this tendency has affected all countries besides Albania, where investments have kept the same pace and even increased during the last year.

The UN report says that the reason for this was the privatization of four hydropower plants from Kurum, and the resale of the “ARMO” company to the Azerbaijani “Heni Aset”. The UN direct foreign investment report of 2014 shows that Albania has a positive perspective and improved figures.

As the report quotes, the Trans Adriatic Pipeline (TAP) will be one of the biggest foreign projects in Albania, with huge chain profits for a series of industries, including manufacturing and transportation.

The energy sector had the most of the direct foreign investments in Albania. However,  the report results have caused debates, since some experts say that the amount of money invested in Albania is in some cases artificially inflated by foreign companies with the aim to reduce the tax burden.

News source: Top Channel
Photo credits: Wikimedia / Huhsunqu

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