Where are the investment opportunities in Albania from the Adriatic-Ionian Region?
The answers were provided at the workshop organised within the 7th EUSAIR Forum on 16 May 2022.
The first day of the Forum Workshop on Investment opportunities in Albania from the Adriatic-Ionian Region held, with reason, on the highest, 23rd floor of Maritim Hotel Plaza and brought a better perspective on current situation and opportunities to the audience.
Competitive labor costs (approximately 420 EUR average gross wage), young, educated and skilled population (half of population is under 35 years old), macroeconomic stability, custums-free access, a great potential for growth and support given by The Albanian Investment Development Agency (AIDA) through providing information and data, contacts, site visits, advices, personalized monitoring and ongoing assistance with various Albanian ministerial departments generate positive investment climate and attract investors. Italy is the most present Adriatic-Ionian country and more than 3000 Italian SMEs operate in Albania.
The Albanian government has identified 6 key sectors for investment: Tourism, Agriculture, Energy, Transport, Manufacture, ICT-BPO and TEDA. Tourism is one of the most important sectors with a major significance for the Albanian economy, both in monetary and employment aspects and with positive forecasts of further growth. The sector in 2020 pandemic year recorded a direct contribution of 10.6% of GDP and contribution of 17.5% to total employment in Albania, creating about 194,600 new jobs.
Flagship project Tirana 2030, the new General Local Plan designed by Stefano Boeri Architetti together with UNLAB and IND has revived investment in the construction sector and the city is a large construction site where construction is taking place rapidly and extensively, as could be seen from the hotel's 23rd floor. The project Tirana 2030 includes advanced infrastructure, green corridors and an enhancement of the city’s architectural heritage, schools open 24 hours, facilities for citizens, renewable energy sources, improvement of the agricultural system and accessibility for all. Promoted by the central government and developed in close collaboration with local administrations, Tirana 2030 is also the largest flagship project heading a programme for the future of all major Albanian cities.
The Workshop was chaired by Alban Isteri, President of Durres Chamber of Commerce and Industry and Vicar Vice President of Forum of the Adriatic Ionian Chambers of Commerce with participation of Francesca Mondello, Director Tirana Office for Albania and Kosovo – ICE, Mileva Meksi, Director of the Investment Department, AIDA and Sara Zotaj, Head of investment and aftercare sector, AIDA, Ines Mucostepa – President of Union of Chambers of Commerce and Industry, Donatella Romozzi from Regione Marche and Katerina Nejdlova from DG Grow, European Commission opened the event.