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Investment Council Main News, July – September 2024

Progress on IC Recommendations, January-June 2024

9 July 2024

The Secretariat published its latest report on the progress of IC recommendations for the first half of 2024. Since 2015, 334 recommendations have been approved across 33 meetings. While public institutions have shown improved willingness to officially share updates, only four out of eight approached institutions (MBZHR, AKPA, AKSHI, and ASHK) provided feedback. Currently, 48.2% of the recommendations are fully implemented, and 18% are in progress, with notable advancements in tourism, agriculture, and agro-processing sectors.
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Summary of Albania’s Macroeconomic Indicators, January-June 2024

8 August 2024

The report on Albania’s macroeconomic indicators for the first half of 2024 offers a detailed overview of the country’s macroeconomic situation, drawing on data from official sources and international organisations. The latest Census highlights a population decline despite high educational attainment, increased household use of renewable energy, and strong construction sector growth. Imports of machinery and equipment rose, but exports declined due to the lek’s appreciation. The financial sector saw increased lending to private non-financial corporations, particularly in trade, while foreign direct investment remains focused on the real estate sector.
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Meeting of the Investment Council: Addressing Challenges for Increasing Competitiveness and Market Access of Albanian Products with European Standards

3 September 2024

Chaired by Minister Blendi Gonxhja, the IC discussions focused on local entrepreneurs’ challenges in increasing the competitiveness of non-food products while complying with EU standards. Minister Gonxhja stressed the need for alignment with EU regulations to enhance market access, urging joint efforts to improve infrastructure, expand knowledge, and strengthen public-private collaboration. He announced the development of a new portal for exporters and invited ideas to address challenges.

Business representatives emphasised the need for enhanced specialized knowledge and support to better achieve compliance with international certifications. They called for increased assistance to boost productivity in domestic production and for targeted investments in high-tech sectors like energy and services. Additionally, they urged improvements in infrastructure and a reduction in bureaucratic barriers to facilitate business operations.

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The Secretariat Contributes to Tirana Connectivity Forum 2024

10 September 2024

At the Tirana Connectivity Forum 2024, during the panel “Increasing Private Sector Footprint in EU-Supported Connectivity Initiatives,” our Head of Secretariat, Dr Diana Leka (Angoni), shared key insights from the Investment Council’s analyses on SMEs’ internationalisation and compliance with EU standards. She highlighted local advancements in digitisation, the digital transition of SMEs, and market compliance while emphasising the need to better address challenges such as cybersecurity, infrastructure, and funding absorption. Dr Leka also discussed improvements in SEPA, green lanes, and roaming infrastructure, stressing the importance of human-centred development aligned with green and digital investments to support Albania’s integration into the Single Market.
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Contribution to Helvetas Regional Webinar: Fostering interactions between the private sector and civil society, facilitating space for change

19 September 2024

At the regional advocacy webinar for the Western Balkans, organised by Helvetas in collaboration with Reconomy and the European Training Foundation (ETF), the Head of the Secretariat highlighted the Investment Council’s ‘shared values’ approach. This strategy fosters dialogue among public institutions, the private sector, and development partners through an inclusive, evidence-based methodology. As a result, the IC has empowered stakeholders to advocate for their interests while establishing a platform that serves as a level playing field within the country.

Survey Findings: Enhancing Competitiveness and Market Access of Albanian Non-Food Products with European Standards

24 September 2024

Conducted by the Secretariat with input from 143 local companies, the survey shows that 93% acknowledge the importance of complying with EU standards due to the significant opportunities in the EU market. Many companies expressed a need for greater knowledge and expertise on trade requirements and innovation, often seeking consulting support. However, challenges remain, including high compliance costs, limited market demand for standardised products due to traditional practices, and insufficient awareness of legal obligations.
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Technical Note: To Increase Competitiveness and Market Access of Albanian Non-Food Products with European Standards – Business Perceptions

26 September 2024

The Secretariat’s technical note outlines the challenges local entrepreneurs face in improving the competitiveness of non-food products through compliance with EU and global standards. It recommends enhancing local data on producers, accelerating the adoption of new EU construction product regulations, and establishing regulatory requirements for various construction types. The document emphasises the need for stronger law enforcement through market surveillance and encourages chambers of commerce to enhance their capacity to provide current information on technical regulations and quality infrastructure in key sectors.
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SECRETARIAT'S RECENT PUBLICATIONS

To Increase Competitiveness and Market Access of Albanian Non-Food Products with European Standards - Business Perception

Technical Note

Enhancing Competitiveness and Market Access of Albanian Non-Food Products with European Standards

Survey Findings

To Increase Competitiveness and Market Access of Albanian Non-Food Products with European Standards

Matrix of Recommendations

To Increase Competitiveness and Market Access of Albanian Non-Food Products with European Standards

PDF Presentation

Minutes of IC Meeting XXXIV

Albania Economic Outlook, H1-2024

Progress on IC Recommendations, H1-2024

INVESTMENT COUNCIL’S MENTIONING IN THE MEDIA

RTV Klan, 5 September 2024 (in Albanian)

Competitiveness and Access to Finance in the focus of Investment Council

ABOUT ALBANIA INVESTMENT COUNCIL

The Investment Council is a platform set up by the Albanian authorities with support from the EBRD and the Swiss State Secretariat for Economic Affairs (SECO) to intensify dialogue between the government and the private sector, improve the business climate, and promote good governance.

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Albania Investment Council is supported by the Albanian Ministry of Economy and Innovation, the European Bank for Reconstruction and Development (EBRD), and the Swiss State Secretariat for Economic Affairs (SECO).

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