E-Newsletter 2024, Issue II

July 2024

Dear Reader,

With the trust that you are all doing well, we are glad to share with you our Electronic Newsletter, reflecting different actions taken by FIAA Members, as well as views, insights and approaches towards the business climate during April-June 2024! 

Wishing you all a very nice summer! 

This information is also available on our website: www.fiaalbania.al

Participation in the common effort of around 20 business organizations regarding the draft law on the establishment of a new National Economic Chamber

The draft law on the establishment of a National Economic Chamber in Albania gathered around 20 business organizations in Tirana to discuss on several occasions on its content and necessity. The business organizations have been actively engaged by expressing their concerns on the draft content, directed to the Minister of State for Entrepreneurship and Business Climate, the Prime Minister of Albania, and the Diplomatic Corps in the country...Read more

FIAA’s reaction on the Draft Instruction “On Implementing the Agreements on Avoiding Double Taxation and Preventing Fiscal Evasion” prepared by the Ministry of Finance

FIAA reacted on the notification of the Ministry of Finance on the draft instruction “On Implementing the Agreements on Avoiding Double Taxation and Preventing Fiscal Evasion” by collecting and sharing the suggestions of its members, elaborated in detail by its Tax Committee...Read more

Document on the Key Matters pressing foreign business activity in Albania to be shared with key stakeholders in Albania

Under the leadership of FIAA’s President Balazs Revesz, and with the active collaboration of its members, FIAA conducted one of its flagship initiatives to date, aimed at collecting the most pressing issues and concerns in the business lines where its members operate...Read more

Business Environment Insights

PwC’s 27th Annual Global CEO Survey - Albania Findings

In times of pressure from technology, climate and other megatrends, CEOs in Albania feel more optimistic about global growth prospects and show readiness for reinvention, although their confidence appears to be fragile. Three in ten Albanian CEOs report that they have accepted lower returns for climate-friendly investments. 50% expect generative AI to significantly change the way their company creates value in the next three years. For more statistics on CEOs in Albania, read here

INSTAT Survey on Innovation Activity 2020-2022

The INSTAT survey on innovation activity, conducted with enterprises with 10 or more employees, showed that in the period 2020-2022 42.9% of them had conducted one innovation activity. The comparison of results with the previous survey for the period 2018-2020 showed that the innovation activity increased by 6.3%...Read more

Coca-Cola celebrates 30 years of presence in Albania

FIAA is proud to share some highlights from the celebrations of the #30VjetRealMagic of Coca-Cola presence in Albania, a success story worth being shared and recognized as one of the most important case studies of foreign investment in Albania and of the milestones of Albania's path in the free economy.
In this anniversary, the President of Coca-Cola Bottling Shqipëria, Mr. Luca Busi, emphasized the importance of continuing the ambitious vision of a common future, while ensuring the daily contribution of the company to the economic growth and sustainability.
FIAA congratulates Coca-Cola for their long journey in Albania, driven by principles of standards, responsibility and sustainability...Read more

Boga & Associates Marks Two Decades of Excellence in International Legal Directories

Boga & Associates is pleased to announce its sustained success in the world’s most reputable legal directories, solidifying its position as Albania’s leading law firm. For over two decades, prestigious directories such as Chambers & Partners, The Legal 500, IFLR1000, and WTR1000 have consistently ranked Boga & Associates at the top. In Chambers Europe 2024, Boga & Associates is the only Albanian firm ranked Band 1 across all practice areas....Read more

ESG Essentials Conference by Deloitte

Deloitte hosted a very interesting conference on ESG essentials which offered the opportunity to businesses to have an insightful exploration into the complexities of Environmental, Social and Governance practices and to stay ahead of regulatory requirements which will come with the imminent shift towards mandatory ESG reporting.
A panel of experts from Deloitte and other foreign companies operating in Albania shared good practices that can be useful to all companies which are planning to undertake efforts and investments in this field.
FIAA’s Executive Director Marinela Jazoj, congratulated the organizers for this timely intervention in the business environment as FIAA stands strongly in favor and promotes the implementation of ESG in Albania, which was demonstrated in the promotion of this event among FIAA’s membership. 

Seminar “Tax Changes in the Business Calendar for 2024” by Ernst & Young

EY Albania’s management team conducted a seminar on the tax changes added in the business calendar for 2024. The seminar which was aimed at business owners, CEOs, finance directors, chief accountants, legal and compliance officers, addressed specific topics such as: introduction of global minimum corporate tax of 15% for large multinationals, transfer pricing, treaty relief procedures, new income tax law affecting corporate and personal taxation, specifics and practical issues related to foreigner’s taxation and immigration rules, tax aspects of EU trade, and introduction of CBAM in the EU and its impact on non-EU imports.

Award of Excellence for ProCredit Bank Albania in the regional conference “Greening the Western Balkans”

ProCredit Bank Albania, as one of the partner financial institutions, received the “Award of Excellence” in the regional conference “Greening the Western Balkans”, organized by EBRD in Sarajevo, Bosnia & Herzegovina. This award motivates ProCredit Bank to remain committed to the green initiatives and to a sustainable economy. The conference program included detailed discussions in panels and sessions and the exchange of successful case stories, focused in the key role of the financial sector in fostering the green transformation of the residential sector....Read more

One Albania Talents Acquiring Leadership Skills in the 8th Edition of One Business Academy

For the eighth consecutive year, One Albania has successfully completed the One Business Academy program. This program aims to provide all participants with leadership skills to prepare them for taking leadership positions within the company. Since February, 34 employees have been involved in a dynamic and educative experience, by collaborating in groups under the mentoring of experienced professionals. At the end of the program they received certificates accredited by the Ministry of Finance...Read more 

Interview with Mr. Philipp Koronowski, Founder at VEGA GROUP

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Interview with Dr. Cemil Acar, General Manager at AlbChrome

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FIAA’s Business Lunch with EU Delegation to Albania and Ambassadors

FIAA’s Board conducted in May 15th a very fruitful business lunch with the Head of the EU Delegation to Albania, Mr. Silvio Gonzato, the Ambassador of Austria, Mr. Christian Steiner, the Ambassador of Greece, Mrs. Konstantina Kamitsi, and Head of Cooperation at the EU Delegation to Albania, Mr. Hubert Perr. The meeting aimed to follow up on the good cooperation that FIAA has established with the EU delegation in Albania since its very start based on the fact that most of FIAA’s businesses are coming from EU countries...Read more

Meeting with Top Representatives from the Hungarian Export Promotion Agency and the Embassy of Hungary to Tirana

In April 24th, FIAA welcomed in a meeting Dr. Laszlo Orlos, Head of the Office of International Affairs at the Hungarian Export Promotion Agency and Mrs. Katalin Beszteri, Trade and Commercial Attaché at the Embassy of Hungary in Tirana...Read more 

AlbChrome Inauguration Ceremony of a New Dedusting Facility, Canteen and Locker Rooms

FIAA Chairman, Mr. Balazs Revesz and FIAA Executive Director, Mrs. Marinela Jazoj, proudly participated at the inauguration ceremony of a new dedusting facility, canteen, and locker rooms, organized by our valued member AlbChrome shpk, one of the top references in the mining industry in Albania. With this investment which aims to improve the working conditions for Albchrome’s employees and positively impact their surrounding communities, adhering to the highest EU safety and health standards, Yildirim Group further enhances its already established profile as a highly ESG-aware company, which has discovered the unseen values within business.  We send our most sincere congratulations to Cemil Acar, PhD, General Manager of AlbChrome shpk for this impressive event!...Read more 

Vodafone’s Event on Agriculture and Artificial Intelligence in Albania

Vodafone Albania gathered partners and key actors of the agriculture and technology sector to discuss about the role of artificial intelligence in agriculture as part of the event "Agriculture and Artificial Intelligence". The aim of the event was to start a discourse in Albania about Intelligent Agriculture and for this purpose Vodafone Albania shared with the attendee’s concrete examples of how new technologies and Intelligent Agriculture have been implemented in Albania and in the world...Read more

NEW MEMBERS 

Membership to FIAA is open to all Foreign Investors, Representative companies and International Organizations working in Albania.

 Please contact us for further information!

IN FOCUS

Recommendations for improvement of the Business Environment in Albania 

Booklet on Business Ethics