Christoph Leitl, the President of the Austrian Federal Economic Chamber, has expressed the interest of Austrian companies to invest in infrastructure, energy and services, identifying non-hazardous waste disposal, tourism and vocational training education as fields with huge potential.
TIRANA, May 21 – One week after Prime Minister Rama’s visit to Vienna, some 70 Austrian business representatives accompanying Austrian President Heinz Fischer in an official visit to Albania have reconfirmed their interest in expanding their investments in Albania where they currently rank as the third biggest foreign investor.
“There were 200 Austrian businessmen in Vienna interested in learning about the Albanian government’s plans, and there are 70 today in Tirana. Cooperation between our two countries brings mutual advantage and interest,” said President Fischer.
Albanian President Bujar Nishani described Austria as an advocate of Albania’s strategic interest and a key investor.
“The relations between Albania and Austria have been traditionally excellent and date early in history. Austria, the firm supporter of Albania’s independence, is today an advocate of our strategic interest,” said Nishani.
“Austria is one of the three most important countries for direct investment in Albania in the sectors of insurance, banks, hydropower, mining, processing industry, law firms, hotels and an important trade partner,” added the president.
In an economic forum held this week in Tirana, Christoph Leitl, the President of the Austrian Federal Economic Chamber, expressed the interest of Austrian companies to invest in infrastructure, energy and services, identifying non-hazardous waste disposal, tourism and vocational training education as fields with huge potential.
“I appreciate the commitment of the Albanian government to overcome the shortcomings, such as the reduction of bureaucracy which is the best way. Our businesses need rule of law, good business environment and taxes. It is a pleasure to cooperate with Albanians,” said Leitl.
Albanian Economy Minister Arben Ahmetaj described the Albanian market as a regional hub offering opportunities for 26 million consumers.
“Austrian investors are an important part of the Albanian economy and the Albanian market is a regional port which with endless economic opportunities not only for 3 million consumers but 26 million consumers,” said Ahmetaj.
“Test our determination and come and do business in Albania.” This is how Prime Minister Edi Rama appealed to Austrian investors at the Vienna Economic Forum last week.
With investments in key sectors such as banking, insurance, energy, Austrian investors say they target expanding their investments even in infrastructure and tourism.
Speaking at the Austrian-Albanian Days which in 2013 marked 101 years of friendship between the two countries, Gerhard Schlattl, an Austrian commercial attach鬠said Albania remains an attractive destination for Austrian entrepreneurs and 2014 is seen as positive as far as investments are concerned. He urged further improvements in the legal framework, fight against corruption and availability of qualified staff.
With 14 percent of total foreign investments, Austria ranks the third largest foreign investor in Albania. Some 77 Austrian companies operate in Albania, representing 2 percent of the joint stock companies. Austria ranks the third most important partner for FDI inflows with a total of Euro 498 million in 2012, up from Euro 444 million in 2011 and Euro 147 million in 2007 with top investments in the banking, insurance and hydropower plants, according to Bank of Albania data.
