Government and private sector representatives from the region discussed initiatives to improve the business environment and increase competitiveness
By Tirana Times Staff
TIRANA, Nov. 19, – The International Finance Corporation and Albania’s Ministry for Economy Trade and Energy hosted a two-day conference in Tirana this week, promoting reform in the business climate of the region.
The event brought together key policymakers, representatives of the private sector and academics from across the region to discuss the progress and challenges of related reforms.
“Albania and other countries in the region need to further deepen reforms initiated to develop the economy, improve the business climate and attract foreign investment,” said at the conference the World Bank’s director in Albania, Camilla Nuamah.
She added that no one can deny that in all countries of the region there is a gap between reforms on paper and their implementation on the ground. Their application must arrive to the private sector all of the country to achieve a greater liberalization of the economy.
While the representative of the European Commission Delegation to Albania, Ambassador Helmuth Lohan, praised as good news from European Union the acceptance of Albania’s request for candidate status, which according to him, shows that the country has made progress, but still has a high level of corruption.
“The annual global Corruption Perception Index, published yesterday by Transparency International, is a bad news for the region and Albania,” – Ambassador Lohan said.
He cited the European Union report on Albania’s progress, stressing that the country continues to crack down on corruption, but measures against it institutions are at times inadequate.
The conference organizer, the IFC, is a member of the World Bank Group, and according to its 2010 Doing Business report, the economies of Southeast Europe are among the fastest reforming in the world. Still, more remains to be done and the conference will focus on business environment reform in light of the current financial crisis.
“Improving the business environment by simplifying administrative procedures and providing better services will help reduce the cost of doing business in Albania and attract more foreign investment to our country,” said Dritan Prifti, Albanian Minister for Economy Trade and Energy. “Albania is pleased to host such an important regional event, and we thank IFC for supporting us in creating better conditions for doing business.”
At the conference, government and private sector representatives from the region discussed initiatives to improve the business environment and increase the competitiveness of companies with academics and World Bank Group representatives.
“The global financial crisis has highlighted the need for IFC’s advisory services in business environment reform, as competition for foreign investment becomes tougher,” said Giovanni Danielle, IFC Resident Representative in Southeast Europe. “Improving the quality and effectiveness of regulations leads to a better business environment.”
IFC is supporting governments in the region to improve the business environment by promoting reforms on the national and sub-national levels.
IFC is the only international financial institution focused exclusively on the private sector, the engine of sustainable development in emerging markets. Along with IBRD, it is currently seeking a capital increase to strengthen its ability to create opportunity for the poor in developing countries.
