Foreign Direct Investment firmly back on the Albanian agenda, announces PM Edi Rama
- Albania jumps 1.7 points on 2014 Index of Economic Freedom
- FDI Net Inflow of $1,369,659,000 into Albania in 2011 (IMF)
- London-based investment company, Charles Street Securities LLP, backing first 5* resort in Albania, Lalzit Bay Resort & Spa
Foreign Direct Investment (FDI) into Albania, the emerging Balkan nation headed by Prime Minister Edi Rama, is back on the agenda as the country focuses on building a strong economy.
Speaking at the recent ‘Albania Calls’ business forum at the Austrian Chamber of Economy, Mr Rama expressed how important foreign investment into the country was and how much of a priority he and his government were making it, saying,
“This is a quite peculiar moment for our country, a moment when we start turning things around, when we fully employ our economic potential, when we really free up our markets to investors.”
This collaborative approach is one that is central to the minds of the modern Albanian government who have realised the key role of foreign relations to the success of the previously communist country. And this revolutionary approach is having a positive effect.
The 2014 Index of Economic Freedom, that uses 10 factors covering Rule of Law, Limited Government, Regulatory Efficiency and Open Markets to determine the ‘economic freedom’ of a country, has revealed that Albania scored 66.9 on a scale of 1 – 100, an increase of 1.7 points on the previous year’s Index, ranking it 25th of Europe’s 43 countries.
Highlighting improvements that include structural reforms of, amongst other things, competitive flat rate taxes and trade reforms, and with a score that is also above average in the worldwide ranking, the Index notes a 17-point increase for Albania in the past 20 years, proving that Edi Rama’s efforts are paying dividends for the Albanian economy.
This sense of increasing economic stability and a positive forward-thinking stance has had a knock-on effect for those looking to invest their monies in the growing Balkan country. Instilling a sense of confidence and optimism with regards to growth potential in Albania, this has been reflected in the numbers following through financially.
The International Monetary Fund (IMF) has shown that FDI Net Inflows reached an impressive figure of $1,369,659,000 in 2011, their highest ever value, up from a mere $325,138,300 in 2006, a major increase of $1,044,520,700 in foreign monies invested in Albania in just 5 years.
Taking advantage of the many benefits of investing in Albania from outside of the country – including its wealth of natural resources, excellent location that offers great potential, no governmental restrictions to investment and EU candidacy having been granted in advance of an expected joining of the EU in coming years – increasing numbers of overseas companies and individuals are looking to spend their hard-earned cash on Albanian shores.
One such foreign investor is Charles Street Securities LLP, a London-based investment company founded in 1984 by Managing Partner and Chief Executive Gerard Mizrahi. Having seen the real investment potential in the Albanian market, CSS LLP are backing the development of the country’s first high-end resort, Lalzit Bay Resort and Spa, situated close to the capital Tirana on the stunning Adriatic coast.
Mizrahi explains why CSS LLP were keen to get behind such an exciting and ground-breaking project,
“We’re proud to have invested in the emerging market of Albania. Forming an important part of our portfolio, it is clear that there is much room for growth when getting in at an early stage in a market such as this. We are sure that our investment in Albania is a wise one and look forward to a prosperous future.”
The financial backers of Lalzit Bay Resort are in good company. Albania’s Deputy Minister of Energy and Industry, Dorian Ducka, recently announced that the country is anticipating Trans Adriatic Pipeline (TAP) to invest a breathtaking 1 billion Euros of direct foreign investment, making Albania a key player in the movement of natural gas to the Western Balkans.
And this positive movement is set to continue, with Rama having big plans for the continued development of FDI and the future of Albania in general. One such plan that will feature heavily is the expected introduction of an Investment Council that will work directly with those putting money into Albania, providing structure and encouraging collaboration.
Lalzit Bay Resort and Spa offers affordable property options for those looking to invest in Albania. The luxurious resort provides five star facilities, including a beach club and tennis courts, boutique shops, top restaurants and bars.
Properties range from 1 or 2 bedroom apartments to 3 or 4 bedroom villas, boasting spacious indoor and outdoor space, optional private swimming pools and the very best fixtures and fittings, all inspired by California’s elegant and modern beachfront houses. Prices range from €35,000 to €360,000.
With investors such as Charles Street Securities LLP already a part of this improving picture through Lalzit Bay Resort and Spa, the future is looking bright for Albania and for those who have followed suit with their money.
For more information about Lalzit Bay Resort and Spa call +44 845 125 8600 or visit www.lalzitbay.com