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Greek investment in Albania increases

Xinhua, May 19, 2015 Adjust font size:

More than 500 Greek businesses operate in Albania, Albanian National Institute of statistics (INSTAT) said on Tuesday, while more than 300 Greek businesses seek for information regarding investing in Albania.

Despite Greece's bad economic situation where in the past five years more than 200,000 businesses declared bankruptcy, there is an increasing tendency of Greek businesses to establish in Albania in the past years.

During the 2011-2013 period, the number of Greek businesses in Albania doubled and investments with Greek capital have reached the amount of 1.1 billion euros (1.23 billion U.S. dollars), from 782 million euros in 2012. The main fields where these businesses operate in the country are the bank system, the construction sector, health care services, telecommunication, trade and education system.

According to the Greek government, one of the main reasons why Albania has become an attractive destination for Greek businesses is that many Albanian citizens who lived in Greece have migrated to Albania.

Other reasons include the geographic position of Albania, the institutional framework regarding foreign investments, the facilities offered to foreign investments in the country, the human resources skills, the stable economic development of the country and tax coefficients. Endit