TAP, Statkraft dominate FDI in Q1 2018
The two major investment projects in the energy sector have dominated the foreign direct investments in Albania in the first quarter of the year.
According to the Bank of Albania, energy investments amounted to 182 million euros, accounting for about 64% of total foreign direct investment during this period.
By crossing investment data by sectors with those by countries, one can conclude that these investments belong to two companies, TAP and Devoll Hydropower.
Swiss investments, the country where TAP is registered, amounted to 106 million euros.
While Dutch investments amounted to 76 million euros, mainly belonging to Stakraft Markets BV, the only shareholder of Devoll Hydropower Plant and registered in the Netherlands.
Significant investments during the first quarter also came in professional and administrative and support services activities.
The two groups that included these services generated over 60 million euros of foreign investment.
In the absence of detailed data, it is difficult to determine the exact nature of these investments, however a good part of the call center companies are, apparently, still attracting foreign investment.
The financial sector continued to generate significant investments in the first quarter, amounting to 24 million euros, which mainly belong to the banking sector.
Meanwhile, there is also a negative tendency of investments in the telecommunications sector, and the decline in profitability is prompting many strategic investors to show reluctance in making new investments.
The extractive industry recorded investments worth EUR 29 million for the first quarter, a sharp decline compared to the previous year.
Investments in this sector mainly pertain to the oil extraction industry.
SCAN
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