But how will this be achieved?
First of all, the government says that a new unified scheme will be introduced to attract domestic and foreign investments alike. Secondly, an efficient mechanism will be put in place to settle disputes in the area of investments as quickly as possible and in the most equitable way possible.
“Long court cases and extra costs have been the main reason why many investors have withdrawn their investments. The aim of the bill is to reduce cost and the amount of time needed to settle disputes for these two types of investments. It’s very important that businesses settle their disputes with public institutions as quick as possible and by incurring as fewer costs as possible”, government experts say.
IMF’s criticism over business climate, government: This bill will improve it
The International Monetary Fund two days ago issued a statement where it criticized the Albanian government about the current business climate, while demanding reforms. Meanwhile, it looks like this bill will serve this purpose. “The approval of the investment bill creates a favourable climate of investments in the country, by bringing positive effects on the economy”, experts explain.
Experts: Political instability hinders investments
Political instability is the first one experts list in terms of the risks that an investment could face, domestic or foreign. Another obstacle relates to the fact that public institutions do not apply the law correctly. The countries of the region are also among the risks. Experts say that these countries could deter investors from investing money to Albania.