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Over 32,000 new businesses opened in Albania in 2016

Xinhua, April 12, 2017 Adjust font size:

Albania reported a new record in the number of businesses registered at its National Business Center last year, local media said Wednesday.

According to the statistics, there were 32,478 businesses registered -- 30,867 businesses were Albanian, 1,247 were foreign, 301 businesses were companies with both Albania and foreign capital invested, while 63 businesses fell into the "other" category.

Although the number of businesses that opened last year was high, statistics showed there was also a high number of businesses wanting to close up shop.

Economic experts said this was the result of the government's move to end informal economic activity, as many businesses that owed arrears to the tax administration had applied to be closed. However, there was a possibility that these businesses re-opened under other names.

On the other hand, the National Business Center said it had begun to provide services in April in a sort of "one stop shop" to cut down on bureaucracy and lower business costs.

Businesses now have a single center dedicated to registering, as well as issuing permits and licenses. Endit