Albania aims to increase American investments - Saro: AFTERCARE application dedicated to foreign investors
The Albanian Investment Development Agency, in collaboration with the American Chamber of Commerce, held a roundtable discussion on American investors who develop their activity in Albania. AIDA Director, Laura Saro, focused on the importance of American investments in our country.
“Next year we are also launching an application called Aftercare. We will be online, dedicated to foreign investors, both existing ones and new ones who want to come. Our staff, all the directors, are responsible for making you feel at home, making you feel that we know how to do business professionally. So we have to help each other in this regard. American investments have continued to grow steadily in recent years. Last year we reached the peak, which was 60 million euros. The potential that you have and the potential that American investors can bring to Albania is very great. So we are looking forward to, and this is the main message, to do even better in this regard. We need to encourage having more American investors here in Albania, not only in terms of numbers and investments that grow our economy, but also in terms of expertise and what you bring here, and how we can improve with you around.”
On the other hand, Deputy Minister of Finance Andi Memeti provided a clear overview of the Albanian economy, while listing the reasons why American investors should expand their activity in our country.
“I want to give you a brief overview of the Albanian economy. And to do that, I will try to put myself in the shoes of an American investor. I mean, if I were in your country, what are the main things I would consider when thinking about investing in a small country like Albania? I think the first point is the market potential. The second point, which I think is important, is taxation for anyone doing business in a country like Albania. In Albania, in terms of taxes, all the services we provide, like tax declarations for example, are done 100% online, right now. Customs, on the other hand, has hired staff and has been operating in this direction since 2018.”
The head of the American Chamber of Commerce, Neritan Mullaj, highlighted the recommendations that should be taken into account to have a successful investor activity in Albania.
“Our recommendations in this proposal include harmonizing the Albanian state system with EU standards, resolving property-related barriers, simplifying procedures and integrating institutional accountability. Strengthening anti-corruption measures and improving transparency. Implementing effective public consultations, ensuring the involvement of citizens and stakeholders. Strengthening the implementation, transparency and accountability of public consultations. Modernizing tax legislation to align with EU directives and the practices of the European Court of Justice, increasing competitiveness compared to regional theories. Strengthening human capital to increase economic competitiveness. Financing for Workforce Development. Modernizing the labor code to reflect the changing needs of the workforce. As well as developing a competitive and sustainable tourism industry.”
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