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FDI in Albania up 11.3 pct year-on-year in Q3

Xinhua, December 14, 2016 Adjust font size:

The Foreign Direct Investments (FDI) in Albania amounted to 276 million euros (293.32 million U.S. dollars) during the third quarter of 2016, data published by the Bank of Albania(BoA) showed Tuesday.

According to the Albanian central bank, the net foreign direct investment inflow saw an increase of around 11.3 percent in the third quarter compared to the same period of the previous year.

BoA's report on FDI also showed that this is the second consecutive month that foreign investments register an upward trend.

This has helped in mitigating the impact created by the strong decline of FDI in the first quarter of this year, according to the central bank experts.

But, considering all the data issued so far, it results that the annual balance sheet of foreign direct investment in Albania remains negative.

According to the Central Bank, the net FDI inflows amounted to around 660 million euros during the first nine months of the year. This shows that the foreign investments dropped by 5.6 million euros compared to the first nine months of 2015.

Economy experts said Tuesday that the progressive FDI growth came as a result of the government measures to ease doing business in the country as well as the ongoing works on major development projects, including the Trans-Atlantic Pipeline project as well as hydro power plants being constructed over the Devoll river cascade. Enditem