TIRANA, Aug. 22 – The 2nd Albania Business & Investment Summit is scheduled for 14 & 15 September 2007 in Tirana in another sign of how Albania has attracted more and more interest from international investors in its post-communist economy.
With its developing market economy, Albania offers many opportunities for investors, not least in the areas of private equity and venture capital as well as energy/infrastructure, according to organizers of the summit.
The new Albanian government will try to offer an improving two-day trading potential, especially with the European Union markets as part of their re-generation program. Albania has also entered into free trade agreements with all Balkan countries, opening new opportunities for trade within the region.
Albania signed the June 2006 Stabilization and Association Agreement, considered as the a first step toward membership in the bloc.
The SAA has been ratified by ten EU member countries and 15 more are expected to ratify it before the country takes another step toward becoming a candidate, something that may take many years.
No fixed time has been set for its membership.
Albania’s economy remains one of the fastest growing in Europe according to the International Monetary Fund and the local financial sector has been gaining strength and has brought more certainty and stability for economic transactions, while allowing an increasing number of foreign banks to enter into the market.
An on-going privatization process presents opportunities in strategic sectors, mining, power generation, oil and gas, telecommunications, finance and banking.
Italy and Austria have led the field so far and the door is open for business with leading companies and investors throughout the region and in the broader EU.
Nevertheless, the country is expected to make radical reforms to approximate its economy to the EU’s market.
Overcoming the power crisis remains a top priority as it is affecting Albania’s overall development and attention to foreign investors.
