Greece Leads Foreign Investments List
Albanian Daily News
Published July 4, 2017
Greece leads the list of countries who have invested in Albania, leaving behind, by several times, countries which may have a bigger economic potential. But this doesn’t seem to have prevented entrepreneurs from neighboring countries to see our country as a good opportunity of investments, thus continuing the historical trend of the past 27 years.
According to the data supplied by the Bank of Albania, in the first quarter of this year, foreign direct investments made by Greece in Albania amounted to 1.222 million euros. This figure has increased compared to a year ago, when this figure was 1.206 million euros or 2 years ago when this figure was around 1.175 million euros. Greece is followed by Holland. At the beginning of the year, the amount of its investments in the country was 869 million euros as opposed to 688 million euros a year ago.
Meanwhile, the map of FDI spreads even more in the geographical aspect, placing Canada third in the list of countries which have chosen Albania to spend their money in the form of investments. Canadian investments in Albania this year amounted to 839 million euros, as opposed to 740 million euros last year. Italy, which is closer to Albania and which has a tradition of economic cooperation with our country, Italy, is behind Canada. In the first quarter of the year, the total amount of Italian investments in Albania was 576 million euros, or two times less than Greece, although it has been constantly considered as Albania’s main trade partner. But, in terms of FDIs, it doesn’t seem that way.
Recently, Chinese investments have seen a significant growth too.
The same theory also applies for Turkey, the investments of which in our country amount to around 500 million euros as opposed 400 million 2/3 years ago. However, the amount Turkish investments in Albania have registered a growth. The same thing can also be said for investments coming from Austria, which at the start of this year amounted to 443 million euros. Investments from Austria are higher than investments from Germany, an important economic partner for our country. But, the amount of investments from this country made to Albania was only 141 million euros this year. The UK and France, two countries which have powerful economies, have not invested a lot in Albania. Their investments amount to 40 and 80 million euros respectively.