Despite the crisis to find employees, the increased costs from the increase in wages and the strengthening of the lek, foreign entrepreneurs are continuing to invest in Albania. Data from the Bank of Albania show that the value of foreign investments until September reached 1.16 billion euros, 72 million more than in the same period of time a year ago.
This is the highest level ever recorded. "It is a big figure for Albania, considering that the latter is small. It is a positive trend. We've done well, but it's still small," said American investor Mark Crawford.
The increase in the value of properties in the country has also attracted the attention of foreigners, listing real estate purchases at the top of foreign investments. The list is followed by investments in the banking and financial sector, hydrocarbons, energy and trade.
"There are many foreign tourists who are especially investing in real estate and not only. They are a sector where generally no large workforce is required. Everything is ready and the investment is carried out without obstacles", he added.
However, the growth of foreign investments is now clearly dominated by the reinvested profits of enterprises, while new capital inflows are almost at a standstill. According to the Bank of Albania, the reinvested profits in 9 months reached 628 million euros, or 54 percent of the total investment flow in the first half of the year.
"This should be read as positive news as it shows that capital is not going abroad, but is being re-invested in Albania."
Data from the Central Bank show that in the third quarter of the year, which coincides with the period of July-September, the level of foreign investments from abroad reached the figure of 411 million euros. (A2 Televizion)
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