🇬🇧 Albania for entrepreneurs and investors

Albania is a country that offers opportunities for entrepreneurs and investors and is interested in attracting foreign investors and entrepreneurs mainly in the strategic sectors listed below:

• Tourism: Travel and tourism are one of the most important sectors for the Albanian economy, both in terms of money and employment, and for its positive forecasts of higher growth. The tourism sector in 2020 recorded a direct contribution of ALL 169.7 billion, with a total contribution of 10.6% of GDP, positioning this sector as one of the main contributors to economic development. This mainly reflects the economic activity generated by sectors such as: hotels and other accommodation facilities, travel agencies and tour operators, airlines and other modes of passenger transport. In 2020, the tourism sector made a 17.5% contribution to total employment in Albania, creating around 194,600 new jobs.
• Manufacture: Albania has a strong and vibrant manufacturing sector, led by highly successful companies in the textile and footwear sector. With this vast experience and skilled workforce, Albania offers great potential to diversify its economy, moving from the textile and footwear industry to the automotive industry.

KEY FACTS OF THE MANUFACTURING SECTOR:

• The growth of sector exports has continued in recent years;
• Exports of machinery, equipment and spare parts increased by 7.2% from 2019 to 2020 and by 24.4% in the two-year period;
• Cost-competitive in-house processing industry, mainly driven by the production of high quality leather clothing and footwear;
• Significant experience accumulated over the last 20 years;
• Partnership with the most famous companies and retailers throughout Europe;
• The main markets are Italy, Germany, Greece, France and the Netherlands.
• Energy: Albania has a very favourable geographical position, among the shortest routes through the western Mediterranean to the Balkans and Asia Minor, and consequently a considerable potential for renewable energy sources such as solar, wind, hydroelectric, biomass and geothermal. The use of these sources represents a long-term strategy for the implementation of three objectives: to support global economic development, to increase the security of energy supply and to protect the environment. Albania has committed to a mandatory target that 42% of the energy in gross final energy consumption by 2030 will be produced from renewable sources, up from 31.2% in 2009. In 2015, according to the published energy balance by EUROSTAT, Albania managed to produce 34.9% of energy from renewable sources, above the third indicative trajectory of 34.3%. The main instruments of Albanian energy policies include the harmonisation of the legal framework of the energy sector with European directives, consumer protection, the promotion of energy efficiency and the increase in the use of renewable sources. Energy planning is based on reducing costs and encouraging private and public-private investments.
• Agriculture: Agriculture is one of the most dominant sectors of the economy with a high development potential, constituting the main source of income and employment in the country. The contribution of the agricultural sector to GDP is 18.39%. One third of the country's employees work in the agricultural sector. The main objectives in agriculture are to improve irrigation and drainage systems, improve the food security chain and increase the competitiveness of agricultural products. The Albanian government intends to transform the "Made in Albania" brand into a certified and trusted brand in the international market.
• TEDA: The Albanian government is looking for developers and investors to create world-class TEDAs on areas of Spitalla, Koplik and Kashar. As currently anticipated, future developers will receive exclusive development and operator rights to these properties, through a long-term lease. The areas are close to a skilled workforce, educational institutions and city centres with a sizeable population. Developers and investors will benefit from Albania's competitive, educated and multilingual workforce, as well as recent reforms that have improved the business climate and competitiveness of the country. These include measures to strengthen investment conditions and improve trade and transport links, especially in Europe. These initiatives make Albania an attractive workplace in the region.
• ICT and BPO: Albania's potential as a favourite destination for ICT-BPO services emerged in 2000 as a developed market and regional powerhouse in the Balkans. Albania has become an important destination for ICT-BPO services with its urban culture, availability of resources, infrastructure and attractive investment incentives. Tirana is Albania's main ICT-BPO hub, followed by Durres, Shkodra and Vlora. The ICT-BPO sector in Albania has seen steady growth since its inception, increasing employment and reaching industry values ​​in excess of $ 130 million.

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Nycka, the Nomad