Albania "steals" Italian money, 5500 enterprises/ Vinciguerra: I will expand my activity! Alku: Increased interest
Once one of the least desirable countries to invest or live in, today Albania has become one of the least expensive destinations and a favorite place to invest, especially by Italians. In our country there are 5500 Italian enterprises or those that have a partner from this country in their company. Meanwhile, in Tirana alone there are about 20,000 Italians who live and work.
"From tourism to renewable energy and gastronomy. These are areas with great potential for investment. Representatives of Italian businesses that have opened activities in Albania show that the profit is high. According to the data, the interest is very high to open Italian businesses during 2025, while expectations are even higher for next year" - says Alida Lula, journalist, editor-in-chief of SCAN in the material dedicated to the presence of Italian investments in our country.
Giovanni Vinciguerra has been opening his business in Tirana for several months with one of the most well-known brands in gastronomy, and according to him, he will expand his activity to the south of the country.
"4 months ago, I opened a business in Tirana. I brought a well-known brand of cuisine, which is authentic from Naples. Albanians have welcomed me very warmly. It is a brand that is present in many developed countries, in Tokyo, Dubai, Paris, etc., and now also in Tirana. When we opened this business, the customers here welcomed us very well. Tirana is already in the center, because it has an airport under development and we plan to expand our activity to the south of Albania. I am originally from Naples, I have been here for some time and my desire was to bring a true Neapolitan product. Now I have completed it, I want to invest further on the coast, because during the summer there are many tourists, especially in Vlora and Saranda. The beginning was a challenge, but we have an objective for people to know more about our products, we have over 70 branches and to develop this brand. In Albania, I felt good, Albanians are a little more keen on learning foreign languages. I have learned some Albanian myself and I still want to perfect it. So far "We are satisfied with the profit," says Giovanni Vinciguerra, Italian entrepreneur.
Young Italians, entrepreneurs and retirees choose it as a new place of residence, as they see Albania as a country in search of new investment opportunities. The opening of enterprises has influenced the employment of many people, and there is no shortage of services and consultancy that these businesses offer.
"At the Italian company where I work, we provide consultancy not only in the private sector, but also in the public sector. There have been numerous collaborations with international organizations with a main objective, the protection of personal data, as well as ISO certification and safety at work. This successful experience in Italy has been the reason for businesses and the public sector to benefit from this consultancy and receive all the benefits of the legislation. Expectations are optimistic. The activity is expanding, providing consultancy also to investments in Albania, because in Albania there is a law on the protection of personal data that is part of the EU directive, and this has favored our consultancy and it has been well received. Expectations are high and we see interest from Albanian companies in how the consultancy and the law ''124'' will be implemented" - says Marseda Aliaj,
consultant in an Italian business.
Trade exchanges show that the textile sector holds the main weight, followed by the agri-food sector, followed by machinery and equipment. The figures 'speak' that foreign investments in the real estate sector from January to March reached 104 million euros from 84 million euros in the same period. The second sector with the highest value of investments is that of financial and insurance activities with 75 million euros, a slight increase compared to the previous year. Next is the extractive industry with 51 million euros invested.
"Italy is one of Albania's main economic partners, ranking as the second largest investor in the country. Currently, Italian investments amount to over 1.7 billion euros. So why do Italians choose to invest in Albania? Is it the free labor force, the geographical proximity, the potential and the climate for doing business? What is the role of the Italo-Albanian Chamber of Commerce and the contribution it is making," says journalist Alida Lula in Standup.
Neritan Alku, the representative of this Chamber, indicates that more and more Italians are investing in Albania.
"The interest of Italians is in fashion, gastronomy, agro-tourism and agro-processing. Their desire is growing year by year, the consultancy is continuous. We do our orientation as a Chamber. Taxes are lower in Albania and the labor force is cheaper. But, the potential that Albania has is growing, there are 3 innovative sectors. Italian business itself, taking into account these indicators and since Albania has become a tourist destination, makes it quite attractive" - says Neritan Alku, Representative of the Italo-Albanian Chamber of Business
As efforts are being made to encourage foreign investment and improve the business climate, Italy will help Albanian businesses prepare to compete in the European Union market. A fund of 30 million euros is available, where each enterprise can apply for financing of up to 500 thousand euros at low interest rates.
"In the area of innovation and renewable energy, there is a lot of interest. Trade exchanges are increasing between the two countries. Interest in Italian investments is increasing, and we are even seeing it extending to the south and north of Albania," adds Alku.
The prospects for Italian entrepreneurs bring the need and necessity of coordination in the choices of strategic sectors to focus on. In the new government mandate, the commitment to simplifying rules and procedures to create a favorable environment for investments has been expressed, also with the aim of Albania's entry into the European Union, where Italy is one of the main supporters of this process.
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