TIRANA, June 25- Executive Director of the American Chamber of Commerce Ilir Trimi, said businesses operating in Albania are concerned and frustrated by the political crisis. In a previously joint statement with other foreign business chambers, they wrote that “each day that passes without resolution erodes the confidence of citizens in our political system and economy, while deterring potential international investment.” That means that no one will invest or take business steps in a country where the political and economic risks are high.
The statement made by the American Chamber of Commerce, DIHA (German Industry and Trade Association in Albania) and the International Chamber of Commerce (ICC) Albania, placed the emphasis on the concern and frustration that the businesses in the country are experiencing due to the aggravated political situation. Trimi said that businesses live under the pressure and insecurity that the political climate reflects on the Albanian economy. They are in continuous working relations with counterparts in the region and abroad, who on their hand are limited to working with a country where political crisis is developing.
And the political situation has been an on-going issue. One of the worst indicators in the Business Index that the Chamber published in April 2019 was the “domestic political climate.” Trimi said that this indicator has deteriorated by -3.02 percent compared to the previous year, reflecting the concerns of the American Chamber of Commerce members. They addressed the problem that comes from political conflict and that causes uncertainty in them but also in the business community, an opinion shared with their homologues.
“Through this statement, we appealed to all political forces that they have the legal and moral obligation to work and find a solution not to let Albania lose its chances, some of which come from businesses that drive economic developments and those who are expected to come to the country,” said Trimi.
Investors make a detailed analysis of how they address a country by controlling all macroeconomic factors, fiscal policies, the workforce and the justice system. As the foreign commercial chambers are working hard to stabilize the optimal parameters that make the country interesting, creating regional markets and security, Trimi said that facing an investor is certainly harmful when the political situation does not guarantee stability.
And tourism is the first to reflect the harming effects of the political crisis. The statistics seem to have influenced the influx of foreign tourists, and tour operators are complaining that foreign tourists are concerned about the situation and tend to cancel bookings. Tourism is a vital sector to the country’s economy, with thousands of employees during the season who don’t only work in accommodation facilities, but also in the trade and services sector. Other endangered sectors that conclude contracts with homologous businesses are exports and attire. Other sectors which will become more important due to strategic investments in them, such as energy, infrastructure, or mines, are more at risk.
“As I said before, no strategic investor is coming to invest millions of euros in a country where sometimes violent protests are aiming to remove a government that has sent you [investors] an invitation to invest,” said Trimi.
