FDI grows to 837 mln euros

TIRANA, March 28 – Foreign direct investment, one of the main sources of Albania’s economic growth representing around 8 percent of the GDP, registered a record 837 million euros in 2010, the highest level during the past seven years. Central bank data reveal FDI during the whole of 2010 rose by 19 percent or 157 million euros compared to 2009. Data show FDI more than doubled to 250 million euros in the final quarter of 2010 compared to the same period in 2009
Privatization in key sectors (banking, telecommunications and energy) has been the main source of FDI. So far the government has retained no special rights or ‘golden shares’ when privatizing strategic companies, but the existing legislation allows it to.
The launch of a new privatization wave under which government has identified 1,280 public assets including strategic enterprises it intends to privatize by the end of this year is expected to give another boost to FDI, increasing government revenues.
The privatization list includes remaining state owned shares in strategic oil, and phone companies, small hydropower plants, military facilities and small and medium-sized enterprises, except for big hydropower plants and dams, schools, hospitals and public buildings and offices which will remain under state ownership.