Foreign investments, "fear" for their data - Report/ "The law must be completed and enforced"
Businesses operating in our country raise concerns about the weak implementation of data protection regulations, which they say has led to major personal data breaches in the past, which have eroded trust from international investors and business partners and given Albania an unfavorable reputation.
According to the report by the Foreign Investors Association in Albania (FIAA), this reputation brings challenges for companies that handle sensitive data, especially those operating in the business process outsourcing (BPO) sector, to find international clients.
The report also states that the currently weak implementation of data protection regulations hinders foreign investment and discourages existing companies from investing in data protection compliance, as this would result in a cost disadvantage to companies that are not compliant.
The report emphasizes that despite the adoption of a new law on personal data protection in 2024, which replaced the 2008 law, many provisions enter into force two years after publication, which leaves open the possibility of suggestions to address its weaknesses.
Given this, the report notes that the weak implementation of the previous data protection law clearly shows that the creation of a legal framework in itself is not enough. “To ensure a good level of data protection and to gain a better reputation, more work needs to be done. “We recommend further refining the legislative framework with appropriate secondary legislation, strengthening the capacities of the Commissioner for Personal Data Protection to ensure that he can implement the new legislation and taking initiatives, together with the private sector, to enable companies to comply with the new legislation in this area.
In the sub-legal acts to be undertaken, it is recommended to establish a transparent methodology for the implementation of penalties as well as extensive consultation with interested parties, especially from the private sector, prior to their adoption, to ensure that all provisions can be implemented in practice.
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