FDI slightly contracts, tourism revenue recovers

TIRANA, Dec. 15 – Foreign direct investment slightly contracted in the first three quarters of this year as the slump in commodity prices and the sale of the country’s key oil producer almost paralyzed investment in key oil and mining sectors. Meanwhile, travel income and remittances picked up while foreign companies operating in the country cut the transfer of profits to their parent companies, according to central bank data. The major Trans Adriatic Pipeline project, already in its pipeline construction stage, and the Devoll hydropower plant by Norway’s Statkraft were the key contributors to maintaining the FDI pace which for…