Albanian companies invested a total of 120 million euros abroad over the past five years
TIRANA, March 25 – As Albania seeks to attract more foreign investors, a recent report by the country’s central bank shows that Albanian companies are actually bypassing their own market to increase investments abroad.
Albanian companies invested a total of 120 million euros abroad over the past five years, which is not a huge number, but is nonetheless increasing every year.
The central bank’s data shows that Albanian business investments abroad are going up from year to year despite the effects of the economic crisis.
But despite the growth, profit from Albanian investments abroad was three times lower than profit from foreign investments in Albania.
Last year alone, foreign companies transferred around 347 million euros in profit from Albania to abroad. Albanian businesses in turn transferred only 111 million euros to Albania in profit from abroad.
Economic experts have seen with worry a tendency of Albanians choosing to invest their money abroad rather than at home due to its effects on the Albanian economy.
