ATA News

New law for investments, improvement of business climate

Minister of Finance and Economy Ervin Mete participated in the presentation event of the findings of the survey of the Foreign Investors Association in Albania (FIAA) “Business Environment in Albania 2023”.

Attending this activity were Minister of State for Entrepreneurship and Business Climate Delina Ibrahimaj, FIAA President Alessandro D’Oria as well as FIAA CEO Marinela Jazoj.

The minister positively assessed the survey conducted by FIAA, which notes a significant improvement in the general evaluation of the doing business climate and the expectations for further improvement.

“The improvement of several survey indicators, such as those related to relations with the tax and customs administration, the level of transparency, competition, as well as the level of bureaucracy faced by businesses, confirm that we have had positive results in this direction” , said Mete while adding that there is still room for further improvement.

The minister stated that the government remains engaged through certain policies and initiatives to increase professional training and to stimulate the participation of young people in the labor market.

Mete emphasized that improvement of communication and cooperation between the government and businesses is essential to undertake reforms and sustainable policies, which will serve the country in the long term.

During his speech, the minister stated that the country’s economic progress has been positive despite the challenges and expressed the government’s commitment to further deepen the digitization processes, expand online services and further improve business climate.

Recently, the government has undertaken a series of legal changes to align our legislation with that of the European Union. A complete legal framework and aligned with European directives is a greater guarantee for investors because it helps them to be more protected and properly orient their investment plans.

In this regard, the minister stated that there is work underway on drafting a new unified legal framework for investments, which aims to make Albania even more attractive for foreign investors, stimulating investments in general and investments in priority sectors.

Last year, the Foreign Direct Investments reached a record figure of 1.3 billion Euros and the trend continues to remain positive. During the first 6 months of the current year, the foreign direct investments reached about 700 million