TIRANA, Dec. 1 – Greek companies have been invited to participate in the energy privation tenders the Albanian government will launch next year under concession contracts in an effort to double the country’s electricity production and diversify recourses through promotion of renewable energy in the next few years. The appeal came last week by Economy Minister and deputy PM Ilir Meta during the fourth forum of the Greek-Albanian economic relations “Challenges and perspectives” held in Tirana from November 24 to 30.
Addressing participants, minister Meta, who is also responsible for energy and trade, guaranteed Greek investors they will find a favourable business climate and government support to accelerate their investments, assuring of transparent internationally assisted tender procedures.
Greece, where an estimated 500,000 Albanian immigrants live and work, is currently the top foreign investor and the second biggest trade partner after Italy since the early 90s.
Greek Ambassador to Albania, Nicolas Pazios described the economic forum as an opportunity to increase trade exchanges between the two neighbouring countries, which last year increased by another 2 percent to 650 million euros. He also hailed two of the latest investments by Greek companies, the Titan cement plant in Fushe-Kruja and the Hygeia hospital in Tirana, worth 430 million euros, according to the ministry’s press office.
Greek businesses are present in almost every sector of the Albanian economy, including strategic ones such as telecommunications, banking system, energy, industry, construction, trade and tourism, significantly contributing to the country’s economic growth.
Minister Meta said that recent developments in Albania which has had its visas lifted in the Schengen area, the NATO membership, the adoption of legislation under EU standards and the implementation of free trade agreements with the EU and regional countries would further contribute to the boost economic cooperation and attract more foreign direct investment.
“Attracting green field investments and the further implementation of the public-private partnership schemes in the sectors of energy, infrastructure and industrial parks are a prime focus,” said Meta.
Data made available by the Albanian Institute of Statistics show exports to Greece during the first 10 months of this year increased to 7.2 billion lek, up from 6.5 billion during the same period last year. On the other hand, imports from Greece dropped to 50.5 billion lek, down from 55.8 during the January-September 2009.
Immigrants & remittances
The severe crisis financial Greece has been experiencing since 2009 has also affected thousands of Albanian immigrants there, significantly cutting jobs in the construction and agriculture sectors. Remittances have also registered a sharp drop.
According to a survey carried out by bank of Albania, the amount of remittances immigrants sent to their families in Albania registered a considerable drop in 2009, reflecting the effects of the financial crisis in their host countries, mainly Greece and Italy, where more than one million Albanian immigrants live and work.
The average amount of quarterly remittances a household received in 2009 dropped to 270 euros, down from 289 euros in 2008, according to findings of a survey carried out by the Bank of Albania and the country’s Institute of Statistics (INSTAT).
Remittances are a major source of income for a considerable number of Albanian families in urban and rural areas. Some 46 percent of immigrants sending remittances were reported to living in neighbouring Greece, compared to 41 percent in Italy.
