Improving the Business Climate – Boosting Investment: Proposals from International Investors in Albania

The event brought together representatives from the Albanian government, including Albanian Investment Development Agency, the tax office, and the finance minister, as well as international organizations and the private sector, such as GIZ, KfW, the World Bank, the EU Delegation, and AHK Nordmazedonien, to discuss strategies for strengthening Albania’s business environment and fostering investment. 

Opening remarks were delivered by FIAA President Balázs Révész and GET Team Leader Dr Ricardo Giucci, followed by speeches from Thilo Schroeter, Deputy German Ambassador, and Blerta Rama, Deputy Minister of Economy, Culture, and Innovation, who emphasized the study’s relevance to ongoing economic reforms. 

Commissioned by the German Federal Ministry for Economic Affairs and Climate Action (BMWK), GET’s Investment Study on Albania was developed to support the country’s efforts to align its legislation with EU standards. Conducted in collaboration with FIAA, the study is based on structured interviews with foreign investors and was presented by Dr Ricardo Giucci, Alina Kunde, and Felix Schwickert. It outlines 11 targeted policy recommendations to improve business conditions and promote economic growth. 

Key Insights from the Study 

• Regulatory and Administrative Barriers: Reducing legal uncertainty and improving administrative efficiency remain crucial for attracting investment.
• Taxation: Simplifying tax procedures and ensuring greater predictability in compliance and audits can enhance business confidence.
• Private Sector Development: Strengthening institutional support and fostering more effective public-private dialogue can help create a more business-friendly environment.
• Data Protection and Cybersecurity: Clearer regulatory frameworks and stronger enforcement mechanisms are needed as Albania advances its digital economy.