Working Group on Energy
The Albanian Government has a special focus on attracting both domestic and foreign investments. Energy remains one of the priority sectors of the country and currently, the sector is in the process of completing the legal framework in the renewable energy sector, as well as meeting the requirements of the Technical Secretariat of Energy, an important transitional phase in terms of rising regulatory requirements. The state budget includes respecting concrete incentives to encourage investment in energy. The delivery of natural resources (hydrocarbons) could not be more fragmented as it has been to date. Albania has become attractive for large companies (such as SHELL) which introduce Albania not only in the regional market but also in the world market. Although large investments are nearing completion, the country is on the verge of major investments in infrastructure, e.g. Vlora airport, Saranda airport, etc. Within the next 3 years, infrastructure investments will be large. Natural resources and energy are important assets and will continue to play a key role in the country’s GDP. However, their development must take into account the sustainability of the environment, as well as the impact on the potential of other sectors of the economy, such as tourism.
On October 4, 2019, in the meeting of the Investment Council “On Investment Potentials and Priority Sectors” chaired by the Minister of Finance and Economy, Ms Anila Denaj, and with the special participation of the Minister of Infrastructure and Energy, Ms Belinda Balluku held the meeting, it was suggested to continue discussions at the technical level in the framework of joint working groups between MFE and MIE.
One of the main objectives of this technical working group is to evaluate the potentials for investment in the energy sector and propose a coordinated work plan with all parties involved with the final goal of creating favorable conditions for investment in the energy sector. Additionally, it will facilitate and propose necessary legal and regulatory procedures aiming to evaluate, prepare, and implement the necessary concrete actions for the development of the energy sector.
Following the Joint Working Order between MFE and MIE, with the aim of assessing the potential for investment in the energy sector, the first meeting at the technical level was held on 25 February 2020 with the participation of 9 representatives, in the premises of MFE. Among the main tasks of the working group is the follow-up of concrete measures following the implementation of the Energy Strategy 2018-2030, including the debate on a long-term national strategy with a clear vision, on priority sectors with potential for investment.
The discussion points of this meeting were:
- Presentation of the object, methodology, members, and product of the working group
- What are the current legal and regulatory developments for the sector / sub-sectors and what can investors expect, the real investment capacities of the priority sub-sectors in ENERGY / NATURAL RESOURCES?
- What can be the following concrete measures to attract investors and financing?