Switzerland, IFC Support Vlora Business Environment

TIRANA, Nov. 8 – Switzerland in a strong partnership with the International Finance Corporation (IFC), being a member of the World Bank Group, and in close cooperation with Vlora municipality, southern Albania, are co-financing a project on sub-national competitiveness. The project focuses on improving the local business investment climate by simplifying administrative procedures and providing better services which will help reduce the cost and risk of doing business, the Swiss Cooperation Office in Tirana said in a statement. IFC has signed an agreement with the Vlora municipality which marks the launch of a joint commitment to increase the competitiveness and level of private investment.
Vlora is the second locality in Albania to be included in IFC’s sub-national competitiveness project in the country. “Our activities with IFC complement our development plan. We hope to reduce the administrative burden for doing business and attract new companies to invest in Vlora. IFC’s assistance in this effort is crucial,” said Shp쵩m Gjika, Mayor of Vlora.
“In line with the national strategy on business and investment, Swiss Cooperation focuses on improving the local business environment in the areas of policy implementation, regulatory framework enforcement and capacity building,” said Daniel Zust, Counsellor, Country Director of Swiss Cooperation Office in Albania.
Improving the competitiveness of municipalities is especially important during the financial crisis when competition for investors is getting tougher. “We are pleased to work with Mayor Gjika and his team. By assisting Vlora and other municipalities in Albania to simplify procedures, we hope to develop a more favourable business environment, stimulate investment and development of the country’s private sector,” said Ivan Nimac, IFC Investment Climate Program Manager for South East Europe.
IFC is also implementing the sub-national competitiveness project in Durr쳠and Shkodra municipalities, equally funded by Switzerland. It is estimated that citizens and businesses in Durr쳬 Shkodra and Vlora will be able to save $6 million USD annually as a result of administrative simplification and the reduction in time, fees and taxes.