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Investing in Albania, the right idea

During his visit to Hamburg, Prime Minister Edi Rama addressed the Germany-Albania Economic Forum. The Prime Minister thanked Germany for the support it has provided as the largest donor for Albania in the last 25 years, and stressed that it remains a key partner in the development path of our country.

"The German government has been the most important donor for Albania in the past 25 years, and we cannot help but appreciate the extraordinary support that you have provided to our country in every area, especially in those areas that are crucial to people in the tough times we have gone through, ranging from energy, water and sanitation, support for small and large business, and so on."

The Prime Minister extended to German investors an invitation to explore the opportunities that Albania offers in areas with high growth potential such as energy, tourism, infrastructure, agriculture and food industry, water management.

"The potential is really great in the field of energy, from hydro to oil and minerals. I want to underline the fact that today we are seeing the recovery of the mining industry, where we are beginning to close the production cycle, together with that of extraction which until a few years ago did not happen in Albania. We are seeing further investments in oil exploration and other investments in hydropower plants, and all these are the ingredients of an economy that is increasingly based on sustainable sources of growth. The manufacturing sector has a huge development potential, with a still very low labour cost but with the highest quality that anyone could ask for in the European market."

After making a summary of the measures taken, both economic and fiscal ones, of the various incentives for improving the climate for doing business and for a favourable taxation system, the Prime Minister assured that investing in Albania is a very good idea.

"We have a very low labour cost, and 15% income tax for business, whatever it is, which in Germany cannot even be imagined let alone to be applied in reality, and then many other advantages, so in the end, making a balance, I can tell you that in general investing in Albania is a very good idea."

Tourism is a very important sector for the economy with untapped potentials, the development of which has been stimulated with specific incentives by the government.

"Albania has a very rich cultural heritage, and it is a country where cultural heritage is a very important aspect of what people find when they visit Albania. We want to transform this heritage into the backbone of our tourism development, developing and protecting nature, the beauty and our landscape as much as possible. We have approved a new legislative package to support investors in tourism, providing land for 1 euro per year, not per meter, per year, and based the scale of investment, the contract has a duration ranging from 33 to 99 years."

The Berlin Process has opened a new perspective of the Western Balkan region, not only for the promotion of political dialogue, but also of economic cooperation.

"Germany is a key strategic partner not only for Albania, but also for the entire region. Something very important has changed in the recent years thanks to the vision and the German influence on the initiative of the Berlin Process. The Berlin Process is what Chancellor Merkel began as an initiative to bring together all the leaders of the region and to create a new space for dialogue on the future and not the past."

The Prime Minister invited investors from Hamburg and Germany in general to consider investing in Albania as an investment in a regional market.

"I believe that today we are in a different situation, let’s say from 10 years ago, and our companies have been restructured, have adapted to some rules that have made them more competitive not only in the domestic market, but also when it comes to provide their readiness for partnerships abroad. And basically, not just the companies that are here but also many other Albanian companies today are connected with international partners, be they German, Italian, French or from anywhere. Everybody must understand that if 5 years ago investing in Albania, Serbia, Montenegro, etc. meant investing in a very small market, today thanks to the Berlin Process and to the initiative of the Chancellor, which is already an institution in relations with the region, today you don’t invest anymore in a small country, but invest in a larger market because it will be increasingly a regional market. The market is very different today, and the potentials are there for anyone who want to grab them."

http://www.kryeministria.al/en/newsroom/news/investing-in-albania-the-right-idea&page=1