Malta-Albania Business Forum held in Valletta, Albanian President urges intensified relations

President Ilir Meta attended Malta-Albania Business Forum in Valletta and during his speech, he urged the intensification of economic and trade relations by inviting Malta investors to assess investment opportunities in the country.

Meta emphasized several sectors such as tourism, energy, agriculture etc. inviting investors to appreciate the opportunities Albania offers.

“Albania can serve as a ‘regional economic center’ for the expansion of foreign investment into a Balkan market with more than 20 million customers and can be a regional ‘gateway’ to the European market. Another sector that is attracting many foreign investors is energy, especially renewable energies. Albania ranks second in Europe for water resources after Norway. Over 95% of electricity in the country is produced by Hydro Power Plants. There are about 180 concession contracts for the construction of more than 500 small and medium sized HECs, some of which are in operation, some are under construction and some are looking for funding. The Norwegian giant Statkraft is expected to complete one of the largest hydropower plants in Albania and the region within the next year, the Devolli HydroPower. Despite these investments, currently only 35% of the hydro power potential is exploited,” Meta said.

President of Malta Coleira Preca assessed that Malta and Albania should give a new impetus to economic and trade cooperation and take advantage of all business opportunities to explore new investment markets.

At the conclusion of the Forum, a cooperation agreement was signed between the Chambers of Commerce and a BtoB meeting was held between dozens of Albanian and Maltese businesses for initiating concrete investment projects.

SCAN

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