Fewer investors coming from Western countries, more from East
18/01/2019 21:39
Opposition’s protest in front of Tirana City Hall brings smoke and flames, clashes with protective barriers 26/04 15:42
After the fall of communism, most of the foreign investments in Albania have arrived from the EU countries, but recently, the foreign capital geography is changing.
“The traditional investing countries, such as Germany, France and Italy, are moving away, leaving room for investors coming from the East”, said Ardian Hackaj.
After the crisis of 2008, Western companies have become more careful with their investment plans, avoiding risky countries such as Albania. The Eastern ones find it easier to get into these markets, according to Hackaj.
For him, attracting new investments from the West is only harder, but not impossible. Albania must improve the factors that make it a risky country, such as the infrastructure and bureaucracy. Besides improving the business climate, the government should also use fiscal incentives.
Foreign investments have been the main source of the economic growth in Albania, but experts warn that the completion of the TAP project and of the Devoll Cascade will create a huge gap in the economy which Albania doesn’t seem able to fill.
Top Channel
