US Patton Boggs hired to attract more FDI

TIRANA, July 19 – Government has hired international US-based law firm Patton Boggs to help attract more funds from foreign assistance programs and increase foreign direct investment. Sources quoted by local media say Patton will receive 5.5 million lek (54,000 dollars) a month under the contract.
According to the central bank data, FDI increased by 29 percent year-on-year during the first quarter of 2010. Government describes this as a very positive indicator considering that the growth was not a result of privatizations.
The Patton team in Albania will be lead by Frank Wisner, a well known retired US diplomat.
The Economy and Energy Ministry has recently selected Patton Boggs Llp as the international consultant for the sale of state-owned oil company Albpetrol.
The US company which also served as consultant for the privatization of oil refinery ARMO, has been given a deadline of six months to assess the company and decide on the method of privatization.