Over 90 pct of foreign investments in Albania concentrate in three sectors in Q3 last year

TIRANA, Jan. 5 (Xinhua) -- Energy, financial system and extractive industry are the three main sectors of Albanian economy that absorbed over 90 percent of foreign investments in the third quarter of 2017, data published by the Bank of Albania showed Friday.

The energy sector dominated the quarterly inflow of foreign investments, mainly as a result of the investments being carried out in Albania for the construction of the Trans Adriatic Pipeline (TAP) that will bring Azeri gas to Greece, Albania and then Italy.

This project is seen as the largest and most strategic investment in Albania due to its high impact on economy.

Another important project being carried out in the energy sector is the building of Devolli hydro power plant which is expected to give a significant boost to Albania's energy production capacities.

Bank of Albania said in a report that energy investments amounted to 193 million euro (232.8 million U.S. dollars) or about 65 percent of the quarterly investment flow in Q3.

Foreign direct investments are maintaining high levels, but economy experts here have voiced concerns, noting that Albania needs to diversify the investment sources and attract investments in other untapped sectors. (1 euro = 1.20 U.S. dollars) Enditem