Highest investments from the Netherlands during first quarter

Tirana Times
By Tirana Times June 27, 2019 19:39

Highest investments from the Netherlands during first quarter

TIRANA, June 26- The Netherlands was the largest foreign investor in Albania during the first quarter of this year, according to data on the inflow of foreign direct investments published by the Bank of Albania. The country invested 77 million euros during January-March, down by 11.4 percent compared to the same period a year earlier, but three times higher compared to the last quarter of 2018. 

The largest investors from the Netherlands are Statkraft, which the Bank registers as a Dutch investment even though the company is Norwegian. Statkraft is a company working on renewable hydropower energy and has built two hydropower plants in the Devolli River (Moglica and Banja). The second Dutch investor is oil industry company Shell, which is looking for oil in the area of ​​Shpiragu in Berat.

For the first time since 2016, Switzerland is no longer the main investor. Investments from this country during the first quarter of 2019 were 67 million euros, down 37 percent compared to the same period last year. This trend reflects the fact that the Trans-Adriatic Pipeline (TAP) is already on its way to be fully completed within 2019, and Switzerland was registered as the main venue of the pipeline’s investments in Albania which was also the largest investment in the country with a total of about 1.5 billion euros.

The third largest investor in the country was Austria, with 25 million euros in the first quarter, followed by Turkey with 19 million euros. Italy follows suit, with the highest growing investments during in January-March 2019 (on an annual basis), increasing by 15 million euros, from the previously negative. Investments from France decreased by 55 percent on an annual basis in the first quarter, also an effect from TAP due to the activity slowdown of the company Spiecapag, a French-based TAP subcontractor. French investments were 12 mln euros in the first quarter. 

Since the last quarter of 2018, Switzerland has been the largest stock investor in the country, which means that in total over the years the investments from this country amounted to 1.37 billion euros (until the end of March 2019). Investments from Switzerland increased rapidly since the second quarter of 2016 when TAP was started, as this is the country where the pipeline has its headquarters, although investments are made by a conglomerate of countries. [TAP’s shareholders are British BP (20 percent); SOCAR (20 percent) from Azerbaijan; Snam S.p.A. (20 percent) from Italy; Fluxys (19 percent) from Belgium, Enagás (16 percent) from Spain and Axpo (5 percent) from Switzerland.]

The second largest investor in the years is Greece, with a stock of 1.14 billion euros, as a result of telecommunications and bank investments, but that are in stagnations for several years. The third is the Netherlands, with a stock of 1.1 billion euros, followed by Canada with 976 million euros due Bankers Petroleum, Italy with 693 million euros, and Turkey with 578 million euros.

Tirana Times
By Tirana Times June 27, 2019 19:39