Albanian economy ministry vows to raise investments, competitiveness.

By bne IntelliNews July 19, 2012
The Albanian economy ministry will continue to pursue improvement of the investment climate in the country and of the local economys competitiveness, the ministrys press office quoted deputy PM and economy minister Edmond Haxhinasto as saying. The ministry and the state agency for investment development (AIDA) will jointly draft a strategic document, which will be focused on a new incentive package for businesses, which is expected to increase investment incentives. The ministry targets an annual growth rate of exports of 10% to 15%, while raising support to strategic sectors such as renewable energy and mining. In the context of structural reforms, priority will be given to processes, which have already been started, including the privatisations of hydropower plants and state oil producer Albpetrol. The ministry will soon announce proposals for regulatory reform with the purpose of reducing bureaucracy and optimising the structures in a number of state bodies.

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