“We want to benefit from the special relation between Albania and Austria to have support but also take as much as possible from Austrian experience in vocational education training,” said PM Rama.
TIRANA, May 13 – “Test our determination and come and do business in Albania.” This is how Prime Minister Edi Rama appealed to Austrian investors this week at the Vienna Economic Forum.
Appreciating Austrian investments in Albania, the Prime Minister expressed readiness to further advance economic cooperation with Austria, which is one of the top investors in Albania. He also expressed the Albanian government’s commitment to create an attractive environment to foreign direct investment, which he described as key to the Albanian economy.
“We want to benefit from the special relation between Albania and Austria to have support but also take as much as possible from Austrian experience in vocational education training,” said Rama.
“The Albanian government is intensively working to set up the basis of sustainable growth and is also being supported by international financial institutions in these efforts,” added Rama.
In the 2013 Austrian-Albanian Day, Austrian companies operating in Albania said they were optimistic about Albania’s prospects and target expanding their activity in Albania where they are currently the third biggest foreign investors. 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 16 percent of total foreign investments Albania ranks the third largest foreign investor. 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.
