E-Newsletter, Issue 2

July 2019

Dear Reader!

We are pleased to share with you the 2nd edition of 2019 FIAA  e-Newsletter. 

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

FIAA Management wishes You a Happy and Relaxing Summer! 

FIAA presents the outcomes of the Business Environment Survey in Albania 2018-2019 

Unfavorable Business Climate, Monopoly and Corruption continue to remain the most concerning issues. 

During a mid-year event in June, FIAA presented the outcomes of its Business Environment Survey 2019. The Survey was conducted among the Membership of FIAA which are the most important foreign businesses in the country, operating in various industries such as, energy, oil, mining, banking, telecommunications, manufacturing, etc, that represent the biggest part of the FDI-s in Albania........Read more

Investment Law, discussions are going on

During the last months, FIAA has circulated among its members the Draft Unified Investment Law, which is open for consultation. As a follow up of the various comments and opinions, the Responsible Body for its Business Consultation, the Albania Investment Council in cooperation with the Ministry of Finance and Economy and presence of IFC Experts organized in June 25th a consultation round table.... Read more

Investment Council discusses on the Investments and Legal Security on Property

During its May Meeting, Albania Investment Council (IC) discussed on “Investments and Legal Security on Property”, a meeting chaired by the Minister of Finance and Economy, Mrs. Anila Denaj but with presence of the Key Relevant Stakeholder, Mr. Artan Lame as Head of the Newly created State Agency of Cadastre.

In support of this meeting, the Investment Council hold a series of Consultation Meetings with Business Organizations, with FIAA as was one of the Contributors with presented Concerns and Recommendations on the property issues. In this meeting, FIAA was represented by its official appointed Member in the Council, FIAA’s Chairman Mr. Tom Larsen.....Read more

SHELL confirms potential of significant Oil discovery in Albania

Initial tests on the Shell Upstream Albania B.V, (Shell) Shpirag-4 appraisal well near Berat, central Albania, have confirmed the flow potential of a significant light oil discovery.

“The Shpirag discovery was the first in Albania’s onshore ‘fold and thrust belt play’ (the geological setting where the hydrocarbon reservoir sits) in which Shell became involved,” said Marc Gerrits, Shell’s Executive Vice-President, Exploration. “We are pleased that these initial tests have confirmed the potential of this discovery and look forward to growing our business in Albania.”

For more information please visit: www.shell.al

20 years of Sigal UNIQA, Avni Ponari is awarded the "Grand Decoration of Honor" by the Austrian President

Sigal UNIQA Group Austria, the largest and the Leading insurance company in Albania celebrated in June its 20th anniversary since its founding. This anniversary brought together hundreds of dignitaries from business, diplomatic corps, government, financial institutions, partners, staff and associates.

Sigal Company was founded in 1999 by Mr. Avni Ponari and his initial coworkers and since 2002, the company has always been the first in the insurance market and shown to its customers the highest European standards.

For more information please visit: www.sigal.com.al

Two important Awards for Intesa Sanpaolo Bank Albania - A clear vision towards a sustainable growth

Intesa Sanpaolo Bank Albania informed its stakeholders about  two important Awards given by the well-known International Financial Magazines following their assessment of the Albanian banking system as:

“BEST BANK GOVERNANCE ALBANIA 2018” by “CAPITAL FINANCE INTERNATIONAL- cfi.co”  and "CORPORATE BANK OF THE YEAR IN ALBANIA” by “CORPORATE INTL GLOBAL AWARDS 2019”.

We confirm our commitment and dedication for achieving a sustainable growth of the country’s economy” – declared Mr. Pedrazzi, CEO of Intesa Sanpaolo Bank Albania.

For more information please visit: www.intesasanpaolobank.al

New Member

FIAA Representatives met with an UNDP Mission

FIAA representatives were invited for a business breakfast with UNDP Albania, an activity set up with the most important actors of the private sector in Albania. The UNDP was represented by the Country Resident Head and the representatives from Regional Centre in Istanbul who introduced their recent programs and focus on the private sector engagement and development of partnerships. On the other side, FIAA representatives introduced their initiatives on support of the Economy and Communities they work with... Read more

Labor Inspectorate and Public Procurement Agency Agree on Implementation of Labor Code for Businesses

Businesses should be aware of the obligations to abide by the Labor Code, requiring them to treat their employees fairly and equitably regardless of their gender or other characteristics, according to a Memorandum of Understanding between the State Labor and Social Services Inspectorate (SLSSI) and the Public Procurement Agency (PPA). The agreement was signed on June 14th by Ms. Reida Kashta, director of PPA and Mr. Arben Seferaj, Chief Inspector at the SLSSI. The signing ceremony was also attended by Deputy Minister of Finance and Economy, Mr. Erjon Luçi, and the World Bank Country Manager in Albania, Ms. Maryam Salim.....Read more

Telekom Albania officially under new management

From May 2019, Telekom Albania has started a new phase in the company’s journey to become the most preferred and trusted operator on Albanian market. Company ownership was completely transferred from OTE Group (part of Deutsche Telekom Group) to Albania Telecom Invest (“ATI”), representing a group of well-known investors.

The company will be managed Mr. Emil Georgakiev, the Chief Executive Officer of Telekom Albania. He has an extensive experience and knowledge in telecoms, being one of the key figures in Vivacom Bulgaria for more than a decade. 

For more information please visit: www.telekom.com.al

Presentation of the Study on Corporate Social Responsibility in Albania

As the pioneer of the implementation of best practices in Corporate Social Responsibility, ANTEA Cement in collaboration with the Albanian non-governmental organization ACIT (Albanian Centre for Competitiveness and International Trade), partnered to present a study on the status of development of Corporate Social Responsibility in Albania. The presentation was followed by an open discussion and proposals on this topic. Representatives of public schools from Fushë Mamurras, Thumane and Shpërdhet acknowledged the direct investments that ANTEA Cement has accomplished under its annual CSR action plan, as well as its significant impact in supporting the community.

For more information please visit: www.anteacement.com

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IN FOCUS

 Albania Business Environment ISSUES follow up

SURVEY 2019

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

 Please contact us for further information!