Hungarian companies eye Albanian options

TIRANA, March 10 – The latest visit by Albanian Prime Minister Sali Berisha to Budapest seems to have increased interest by Hungarian companies to invest in Albania. Hungarian companies see promising business opportunities in Albania, with bilateral relations set to take advantage of a promising business environment, according to the investment and trade promotion agency ITD Hungary.
Albania is particularly attractive since foreign investors are allowed to buy land in Albania in return for significant capital investments.
Albania also plans to privatize its energy distribution network, oil refineries and sell shares of state-owned companies, which may become appealing investment targets for Hungarian companies.
Total Albanian exports came to $962 million last year, of which 81 percent were shipped to Italy and Greece. Hungarian exports to Albania totaled $49 million US dollars in 2006 while, at the same time, Hungary imported Albanian goods worth $400,000 dollars.