E-Newsletter, Issue 3

November 2018

Dear Reader!

We are pleased to share with you the third edition of 2018 FIAA  e-Newsletter. 

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

Albania Tourism Investment Summit 2018  

The Albania Tourism Investment Summit is the Official Summit for the Albanian Tourism sector, set to take place at Mak Albania Hotel in Tirana on 27 November 2018.
This Summit will be a unique networking event in Albania, an ideal opportunity platform to discuss challenges and developments in the tourism sector, to have in-depth discussions, to meet national and international key players and experts, to exchange ideas and follow stimulating conversations around the next big trends.... Read more

Survey on Business Compliance in Albania

FIAA has recently conducted a Survey with its members focusing on Business Compliance.The finalized survey is focused on the issue of Business Integrity, an important element for the business climate in the country. FIAA believes that talking and practicing good ethics, values and integrity in business is an integral part of the core values of the functional economies and necessary to fight corruption and to build transparency. The Survey’s outcomes will be presented and discussed in the coming days, in a dedicated Roundtable with the participation of business and related stakeholders in Albania.

FIAA Representatives of Mining Committee meets with the Deputy Minister of Industry in Albania

A delegation of FIAA representatives from the Mining Industry has meet with the Deputy Minister for Energy and Industry Mr. Aliko to discuss on the current situation of the mining industry. The talks were mainly focused on the recent changes presented in the New Fiscal Package for the increase of Excise Tax in bituminous coal and related articles which do fiercely affect the ongoing activity of the companies operating in this sector....Read more

FIAA receives the New President and CEO of Bankers Petroleum Albania it its premises

President of FIAA, Mr. Tom K. Larsen and Deputy President, Mr. Turker Sengonul developed an introductory meeting with the President and CEO of Bankers Petroleum Albania, Mr. Xingyun Sun. Bankers Petroleum is now part of the successful Chinese Oil Company GEO -Jade, which has moved all out its HQ functions from Calgary to Fier with special focus on the only business in Albania. Mr. Sun has recently moved to Albania to lead operations of Bankers in the country which is among the most important foreign investments in Albania and one of the most outstanding members .... Read more

INVESTMENT COUNCIL Meeting “On Formalization and Competitiveness in Tourism” 

The Investment Council (IC) hold its regular meeting this time focused on “Formalization and Competitiveness in Tourism.” Chairing this Council, Minister Ahmetaj said that “Although the tourism sector has a substantial growth, its formalization remains a challenge for the country. During the last tourism season, many tax control structures were engaged, although in the focus were not penalties, but taxpayers’ education and, of course, further formalization."...Read more

Deloitte Albania Forum on raising awareness on the benefits of good financial reporting

In September 2018, Deloitte Albania organized an event dedicated to the presentation of findings of the national survey on “The Importance of Good Financial Reporting in Albania”, conducted under the framework of the Project “Enhancing the Quality of the Financial Reporting (EQ-FINREP)”. The project has been implemented by the Ministry of Finance & Economy and supported by the World Bank and SECO.

As part of on-going improvements and developments in the accounting profession, this event aimed to identify the key challenges faced by accountants and enterprises in Albania. According to the survey of users, 44% of users of financial report indicate that the lack of risk and explanatory information is one of the most accentuated gaps in the financial reporting. However, according to the accounting experts, this is a positive indicator which shows that entrepreneurs are eager to have a qualitative financial reporting. This is an incentive for more details to be used in financial statements, and it encourages further improvements in financial reporting.

Present in the event were representatives of the Ministry of Economy and Finance, representatives from World Bank, Swiss Embassy and SECO.

Hilton Garden Inn opens doors in Tirana

Hilton Garden Inn Tirana is the newest hotel in the city.  The official opening Ceremony took place in September 26^th and was attended by distinguished guests.

Prime Minister of Albania, Edi Rama, present in the opening event gave his warmest blessings for the newest hotel in Tirana.

For more information please visit: hiltongardeninn3.hilton.com

TAP Launches Offshore Construction works in Albania

Very recently, TAP marked the start of construction works for the 105km offshore pipeline section. The physical offshore pipeline installation is planned to be carried out in 2019, as per TAP’s schedule. The milestone was celebrated in a ceremony attended by Edi Rama, the Prime Minister of Albania, Damian Gjiknuri, the Minister of Infrastructure and Energy, Armando Subashi, the Mayor of Fier, as well as TAP’s Management.

For more information please visit: www.tap-ag.com

 INTERVIEWS   

Interview with Mr. Maksim CASLLI - Country Leader of Deloitte Albania & Kosovo

"Important changes in the current business environment would be necessary to make Albania achieve in the near future double digits growth!"

FIAA contributes on the talks for the Drafts of Fiscal Package 2019

Recently, the foreign business community was presented with the second package of Drafts for the Fiscal Package 2019. Being part of the Fiscal Council in the Ministry of Finances, FIAA distributed the proposed articles to its members 'Community for opinion and feedback....Read more

FIAA Partnering in the upcoming Tirana Economic Forum

Tirana Economic Forum is a high-level meeting of the most influential Albanian and international political, corporate, and intellectual leaders to address pressing challenges currently facing Albania and the world.....Read more

2018 EIRA-Energy Investment Risk Assessment

EIRA is a distinct publication which aims at assessing specific policy, regulatory and legal risks concerning foreign and domestic investment in the energy sector of different countries.  Considering FIAA’s active role in the energy sector of the country, the Secretariat trusted FIAA to be a peer reviewer to the EIRA project, and bring attention to the challenges faced by the business and investor communities and maybe contribute to.... Read more

           JOINING FIAA 

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

 Please contact us for further information!

HAPPENING SOON