8 hours agoAlbania boasts increased number of foreign investors
Periskopi(8 years ago)
(8 years ago)State Minister for Protection of Entrepreneurship Sonia Qato said foreign investors do not hesitate to come to Albania and that their number has increased. In a television interview, Minister Qato gave an answer to all fears recently circulated in the media that Albania has been in danger since one year, in [...]
State Minister for Protection of Entrepreneurship Sonia Qato said foreign investors do not hesitate to come to Albania and that their number has increased.
In a television interview, Minister Qato gave an answer to all fears that have been circulated recently in the media that Albania risks from one year to the other facing the challenge of reducing foreign direct investment in conditions where two major energy projects ( TAP and Devolli are being completed, the ATSH reports.
We guarantee that investments are only on the rise, she said.
The fact that in the first 3-month of 2018 an increase of 62% of foreign investment has been noted, says we are not in these conditions, and this indicates that there is no hesitation from foreigners. Foreign investments have not fallen and Tap is not the only investor and does not break the balance”, State Minister for Protection of Enforcement Sonia Qato stressed.
A few days ago it was the European Commission's report, which provided assessments on the performance of foreign investments in Albania compared to countries in the region.
Foreign Direct Investment Inflows are expected to fully finance the current account deficit. Over the past 10 years, foreign direct investments have financed 76 percent of the current account deficit. In 12 months, until September 2017, The net iHD exceeded the deficit by 41 percent, while construction of two major energy projects peaked. The Economic Reform Programme predicts that Foreign Direct Investments will remain strong and will exceed the current account deficit by about 20 percent annually on the programme. This Economic Reform Programme recognises the fact that direct Foreign Investment revenues related to two projects will be reduced, but it seems to expect without any question that this will be offset by new Foreign Direct Investment projects. Nevertheless, Albania's success in attracting foreign investment in recent years has been widely focused on the industry based on natural and integible resources”, the report says.
In this regard, the Commission estimates that these types of investments carry with them the risk of running out, while proposing that Albania focus on investments that represent added value and include it in the global supply chain”, the EC report quoted. / ATSH
