US State Department: Albania has good business laws, but investors complain

US State Department: Albania has good business laws, but investors complain
Authorities in Albania have guaranteed a friendly environment in terms of laws, in order for businesses to operate efficiently; however, companies still have complaints. This is the finding of a recent report issued by the US State Department concerning business climate in Albania in 2018. “Foreign investors mention corruption, especially in the judicial system, lack of transparency in public procurements, the poor application of contracts and other constant problems that exist in Albania”, the report quotes.

Meanwhile, according to the report, there are also other important investors who claim that they’re pressured into hiring subcontractors with political ties. “Rules and laws that regulate the business activity change quite frequently and the business community does not have a say in it”, is another element of criticism that the US State Department report points out. However, the report also states that states that existing laws in Albania favour businesses.

“The Albanian legal system does not discriminate foreign investors”, the report states, adding that “the law on foreign investments aims at providing a friendly legal environment for foreign investors”. According to experts of the US State Department, Albania’s regulatory system has improved in the recent years, however, there are still challenges. “Inequalities in the application of legislation, bureaucracies and the lack of transparency act as obstacles for the business community”, they say. “Albania does not impose restrictions on domestic investors to invest abroad”, is another finding of the report in question, confirming that the conditions for Albanian businesses wanting to invest abroad have also improved.

 

 

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