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Working Groups

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New working groups to follow up on the recommendations and discussions held at the Investment Council’s meetings.

Context:

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.

Objective

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.

Meeting I

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.

Working Group on the Energy Sector, Tirana, 25 February 2020

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?

Advance Css

Objective

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.

Meeting I

Following the Joint Working Order between MFE and MARD, aimed at assessing the potential for investment in the agro-processing sector, the first meeting at the technical level was held on 21 May 2020, with the participation of 10 representatives, via Zoom platform. The purpose of the meeting was to formalize the MFE + MARD working group at the technical level, updating on the work carried out by the ministries and agree on the tasks and deadlines for submission of materials which will be presented at the next meeting of the Investment Council in order to take concrete action in promoting the agro-processing sector in the context of the country’s economic recovery, especially post-COVID-19 pandemic.

Meeting II

The second meeting at the technical level was held on 25 June 2020, with the participation of 7 representatives, via Zoom platform.

Meeting III

The third meeting at the technical level was held on 13 August 2020 in close cooperation with RisiAlbania & KASH, via Zoom platform.

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Objective

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.

Kick-off Meeting

Following the Joint Working Order between MFE and MIE aimed at assessing the potential for investment in the Information Technology sector (with a focus on digitalization), a kick-off meeting was held on 20 May 2020 via Zoom platform, between representatives of MFE and MIE.

Meeting I

The first meeting at the technical level was held on 26 June 2020, via Zoom platform.

Meeting II

The second meeting at the technical level was held on 29 July 2020, via Zoom platform.

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1st Meeting of Working Group on the Blocking of Bank Accounts, Tirana, 5 February 2020

Meeting I

On the issue of blocking and unblocking the taxpayers’ accounts by the commercial banks based on the relevant orders issued by the tax and local fees directorates within municipalities, with the participation of representatives from:

  • the Municipality of Tirana and the Tax and Local Fees Directorate
  • the Albanian Association of Banks
  • second-tier banks
  • business chambers (AmCham, Confindustria Albania)
  • MFE

During the discussions, it came out as necessary to intervene in the sub-legal framework and a proposal was drafted and submitted to MFE for amending point 90 of Instruction no. 24/2008 “On Tax Procedures”.

2nd Meeting of the Working Group on the Blocking of Bank Accounts, Tirana, 22 October 2020

Meeting II

Convened with a special request by the Deputy Minister of Finance and Economy, Ms Vasilika Vjero, the second meeting of this working group was attended by around 20 participants: MFE, Municipality of Tirana, DPTTV, GTD, Association of Banks, Amcham Albania, Confindustria Albania, BKT, and Raiffeisen Bank Albania. During the meeting, the participants discussed technically all the issues brought by the business representatives specifically on the UMF24, and an improved draft order was agreed to be presented to the MFE within November 2020.

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Meeting I

On some concerns raised by businesses regarding the imposing of local taxes and fees by five municipalities. The participation in this meeting was quite wide with representatives from:

  • The Municipalities of Fier, Kukës, Puka, Selenica, Tropoja
  • Business associations and chambers of commerce: AmCham, Confindustria Albania, FIAA, AREA
  • Ministry of Finance and Economy
  • Ministry of Defense
  • Ministry of State for Protection of Entrepreneurship

Working Group on Local Taxes, Tirana, 27 February 2020

The discussion focused on (1) concrete proposals related to various current legal frameworks, (2) the need to build a manual to explain clearly the methodology for establishing local government taxes and fees for which MFE expressed commitment, (3) transparency on tax and tariffs imposed by municipalities and other complex issues faced by the business to pay local taxes.

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

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