Investment Council discusses opportunities for improving Access to Finance for the Albanian agribusiness sector
The Investment Council (IC) held on 29 September 2016 its regular meeting chaired by the Minister of Economic Development, Tourism, Trade and Entrepreneurship, Ms. Milva Ekonomi. Attended the meeting, the Minister of Agriculture, Rural Development and Water Management, Mr. Edmond Panariti, as well as a group of representatives from agribusiness associations and donors assisting in the sector.
In her opening speech, Minister Ekonomi highlighted the measures undertaken by the Government towards the improvement of the business climate and promotion of private investments in the country, including those in the agro-industry. She mentioned that Investment Council remains a very good platform enabling a transparent, constructive and open debate with the business partners. In addition, Minister Ekonomi informed about the efforts of the Ministry of Economy, to build a database where all state and private properties will be placed on a website accessible to everyone interested in investing in Albania. She also stressed the concept of investment in agro-tourism, as an area that could be considered in the future.
In his word, Minister Panariti stated the special attention given to the sector and the efforts made by the Government in strengthening the capacities of the sector to increase the national added value of the agricultural products in order to increase their competitiveness, such as supporting the establishment of the refrigerated warehouses, collection points, processing lines, packaging and calibration as well as the continuous actions to support the scheme for the VAT reimbursement up to 20% to the farmers.
During the meeting, a presentation was delivered on the preliminary findings of a study financed by the European Bank for Reconstruction and Development (EBRD) on capacity gaps in the agribusiness sector in Albania. The objective of the study is to identify gaps and bottlenecks in the sector to inform EBRD regarding its future decisions on the provision of technical assistance and prospective activities.
The IC Members discussed on the concrete opportunities for investments and further improvements in specific agribusiness value chains, as well as the barriers and impediments to such investments, with the aim to address them within the institutional framework, through further actions of the Government in consultation with the business community.
For Meeting’s materials, click here.