Albania saw 676.6m euro of foreign investment in 9-month period of 2017: Minister Ahmetaj
Foreign direct investment plays an important role in the country’s economic growth.
The two biggest projects in Albania are TAP pipeline and Devolli HPPs, which are expected to be completed this year.
But the government is optimistic that it will not feel their absence, as they will continue to be productive in the country’s economy.
According to the figures presented by Minister of Finance and Economy Arben Ahmetaj, foreign direct investments for the 9 month period of 2017 amount to 676.6 million euro, while the expectations for this year are higher.
“If we move on the same pace as the third and fourth quarter, then we will get almost the same figure that we had in 2016. I would like to emphasize that these investments in the next two years are in the stages of completion and they will go into operation in the Albanian economy, both Devoll and TAP. Of course, these two major investments will be replaced by serious investments in tourism, construction and agriculture, but in other respects, you should think that the completion of foreign investments increases the productivity of the Albanian economy,” Minister Ahmetaj said.
Asked by TV SCAN, whether there are any concrete projects that are expected to compensate TAP and Devolli, Ahmetaj replied:
“There are two components that equalize and exceed them, the first is an organic growth of foreign investment: there are 1100 foreign companies in 2017, which are neither TAP nor Devolli, but are companies with 8 or 10 million and they generate the organic growth and foreign investment. Secondly, there are some great projects, starting from the Vlora airport, or some important tourism projects.”
Over the last few years, a number of legal changes have been undertaken to improve the business climate, especially for attracting foreign investors.
Thus, in 2017, some legal and fiscal facilities were approved for investments in the tourism sector, which are expected to bring popular brands in Albania.
SCAN
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