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BoA: Chinese companies likely used Canada, tax havens for major Albania investments

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9 years ago
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TIRANA, July 5 – Chinese companies invested more than $600 million in two major oil and airport acquisitions in Albania last year, but official data shows the stock of Chinese foreign direct investment in the country remains almost non-existent, hinting the investment has been made through Canada, the former headquarters of the country’s largest oil company, or tax havens like Singapore. Official central bank data shows the stock of Chinese foreign direct investment to Albania was at only €7 million at the end of the first quarter of 2017, compared to €2 million at the end of 2015, when no…

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Story Highlights

  • Chinese companies invested more than $600 million in two major oil and airport acquisitions in Albania last year, but official data shows the stock of Chinese foreign direct investment in the country remains almost non-existent, hinting the investment has been made through Canada, the former headquarters of the country’s largest oil company, or tax havens like Singapore.

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