Albania needs to intensify reforms related to the performance of SMEs in the country, which would contribute to the improvement of the economic growth prospects, the European Commission said in its 2012/2013 Annual Report on European SMEs.
The Commission noted that the implementation of the Small Business Act for Europe (SBA), which is EU's flagship policy initiative to support SMEs, can contribute to create a high and sustained economic growth path.
Among the priorities on the reform agenda remains solving the administrative constraints, which hamper business investment. This in particular refers to the uncertainty with property rights, the weak enforcement of the rule of law, and the inadequate physical infrastructure.
According to the report, the number of SMEs in Albania account for 99.9% of total enterprise. The sector has an 81.4% share in terms of employment and accounts for 68.4% of the generated value added in the economy.
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