Download Albania Trade and investment opportunities

Albania
Trade and investment
opportunities
Territorial Workshop Albania
Prague, 16 March 2017
Albania – Key Figures
Population
2,9 million
Work Force
1.085 million
Medium Age
Official Language
32 years
Albanian
From PRG
Surface
Coordinates
Time Zone
Major Airlines (CSA, Alitalia, Lufthansa etc)
28,748 sq. km
41 00 V, 20 00 L
GMT +1 (Same as PRG)
Greece 212 km, Kosova 112 km,
Neighboring Countries
Macedonia 181 km, Montenegro 186 km
Major Cities
(Population)
GDP
GDP per capita
Total Exports
Total Imports
Direct Foreign Investment
Companies with Foreign Capital
Inflation
Largest Exporting Markets
Largest Importing Markets
Tirana (800.000) Durres (276.191) Korça
(365.000) Shkodër (218.523) Vlore (183.100)
Commercial Agreements
Membership
NATO Alliance Member; EU aspiring country
11.59 billion $ (2015)
3,840 $ (2015)
1.958 billion $ (2015)
4.382 billion $ (2015)
5.073 billion $ (2014)
10.580(2015)
1.9% (2015)
Italy 45.2%, Kosova 7.6%, China 7.4%, Spain 6.7%,
Greece 4.6% (2014)
Italy 35.4%, Greece 11%, China 8%, Turkey 6.7%,
Germany4.3% (2014)
•Albania is an aspiring EU country and has signed the EU
Association Agreement
•CEFTA – Albania is member of Free Trade association of
Central Europe
•Albania is member of World Trade Association and has
free trade agreements with a number of countries
•Free Trade agreement with Turkey
•(EFTA) –European Free Trade Association
Measuring Progress
• Albania is ranked in the 58-th place out of 190 countries, 32 places better than 2016 - "Doing
Business 2017“ , World Bank report
• simplification of paying taxes through online payment, Albania has improved with 45 places
• Albania is ranked in the 65-th place in the world referring to “Index Economic Freedoms
2017” Heritage Foundation report
• As reported, procedures for opening a business have become cheaper and don’t require capital.
• Government is in the process to remove subventions for many public services like, electricity, water,
agriculture products, and railway transportation.
• Albania has improved 20 places, now is ranking in the 42nd place - referring to the report for
“Economic Freedom in the World” for 2016 of the Frasier Institute
• The most improvement were International Trade, where Albania has improved with 35 places and
• Legislation where Albania improved with 48 places
Albania - Investment Indicators
• Macroeconomic Stability
• Stabile prices. Stabile Exchange rates. Low Inflation
• Inflation Rates - 2013: 1.9%, 2014: 1.6%, 2015: 1.9%
• Domestic economy and Trade is expanding
• In First Quarter of 2016 growth was 3%
• Projected: 2016 = 3.2 %; 2017= 3.5 %; 2018 = 3.8 %
• Competitive low Tax and Incentives
• Competitive taxation system
• Incentives for strategic investments. Incentives for strategic sectors (Agriculture, Energy, Tourism).
Investment initiative: Albania “1 Euro”
• Competitive Labor Cost
• Albania has the lowest wages in Europe;
• Social security ‘on costs’ amount: – 24.5 % of gross wages
• Training and employment formula is supported by Government
• Free Trade Agreements with largest markets - Free trade agreement with EU, Turkey, CEFTA and EFTA.
Albania - Investment Potential
• It is the gateway to the Balkans
• Strategic location of Albania in the West Balkans and it’s vicinity to the European markets
• Connection to Europe through two ports in the Adriatic and the Jon sea
• Favorable climate for strategic sectors like Agriculture and Tourism
• Free Trade Economic Zones: planning two free zones
• Albania is looking for Strategic Private investors to develop two full service Free Zones for technology and
economic development, located in Koplik and Spitalle.
• Significant Increased Foreign Investments
• Approximately 1 billion USD per year for the period 2008-2014.
• More than 10500 companies with foreign capital
• TAP (Trans Adriatic Pipeline) – project will invest $1.5 billion in 2016-2017. 215 km land and 37 km sea
• Ease of registering businesses
• One-Stop-Shop for registering, license, permit requests etc. Time = 8 hours / Cost = 0.7 Euro
Albania - Investment Opportunities
Open to multiple forms of Investment: private, public-private, strategic
• Tourism and Agriculture
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The coast and middle region has 285 days of sunshine and 2,000 mml rain per year
The average daily temperature in January is 6.5 °C, while in July and August it is about 24.5 °C
Similar seacoast as Greece and Montenegro but more competitive pricing for land or services
Mountain tourism is underdeveloped; 38 % increase year on year for Czech tourists
• Energy and Mining: renewable and traditional
• Patos-Marinza is the largest onshore oil reserve in Europe
• Large reserves for other minerals
• Transport and Logistic
• Extensive road and railway network well connected to major European routes and ports
• Possibility for new Airports connecting South and North regions using low-cost options
Questions?
Ilirian Kuka
Embassy of Albania in Czech Republic
Business and Economic Affairs
e-mail: [email protected]
phone: + 420 776 147 540