New economy minister targets FDI as priority

TIRANA, July 18 – Making Albania more attractive to foreign direct investment and improving the business climate by reducing bureaucracy will be the key priorities of the Economy Ministry, new minister Edmond Haxhinasto of the Socialist Movement for Integration has announced.
“In cooperation with the Investment Development Agency we will introduce a guide on investments that will give information on the ways, reasons, and sites of investments also identifying the priority sectors and regions in order to make Albania more attractive in the region.
The regulatory reform cutting the number of inspectorates from 36 to 11, in an effort to increase efficiency and cut costs for businesses will also be on top of the ministry’s agenda for this year.
“The regulatory reform is a very complex reform that will have an impact on improving the business climate and reducing bureaucracy,” said Haxhinasto.
Before taking over as economy minister, Haxhinasto served as foreign minister. He replaced his party colleague Nasip Naco in the latest cabinet reshuffle last June.