TIRANA, Oct. 19 – Some 100 state-owned and private properties have been made available for rent online on the website of the Albanian Investment Development Agency, a government agency whose mission is to attract foreign direct investment, increase the competitiveness of the Albanian economy through support to SMEs and innovation.
“This is a transparent process and another opportunity to invest in Albania for local and foreign investors,” said Economy Minister Milva Ekonomi.
“Placing these 100 properties on the Albanian Investment Development Agency website makes it easier and more transparent for entrepreneurs to invest in Albania, by first of all considering the location of their business,” she added.
The property list available in English will also be updated with the other major remaining state-owned assets scheduled for privatization, says the economy ministry.
The initiative comes at a time when Albania is targeting to increase foreign direct investment after a slowdown in oil and mining investment due to a slump in international commodity prices.
Albania’s foreign direct investment registered a considerable recovery in the second quarter of the year fuelled by investment in two major energy-related projects as capital expenditure in the key domestic oil and mining sector has almost been paralyzed due to a slump in commodity prices.
Central bank data shows FDI recovered by an annual 24 percent in the second quarter of the year when it climbed to €261 million but the first half performance suffered an annual 12 percent decline to €418 million as FDI in the domestic oil production, one of the key drivers of Albania’s FDI in the past few years, dropped by four times.
After the sale of INSIG insurer earlier this year, the OSHEE electricity distribution operator, Albpetrol oil company remain the most important state run companies.
The Albanian government also has minority stakes in ARMO oil refiner and Albtelecom operator.
