FDI challenge looms as major investors reduce Albania presence, TAP, Devoll HPP near completion

TIRANA, Dec. 18 – EU, North American, Turkish and Chinese companies reduced their Albania presence in 2016 amid a slump in commodity prices affecting their oil and mining operations in the country and a rather aggressive nationwide campaign against informality the Albanian government launched in late 2015. A report published by state-run statistical institute, INSTAT, shows the number of foreign-owned companies and Albanian-foreign-owned joint ventures dropped by 5 percent to 5,637 in 2016, registering the first annual decline in at least seven years when data is available. However, the FDI inflow registered an almost record high of €943 million, but…