Economy


Albania is a statehood candidate for EU membership, is a member of WTO since 2000 and a member of the North Atlantic Treaty Organization since April 2009.

Albania achieved a positive growth on the economic front in spite of the worsening effects of the economic and financial crisis that hit many countries in the world, Albania has succeeded in achieving an economic growth rate of 6% during the period from 2000 to 2009 and more than 3% during the period from 2010 to 2011, but with the continued slowdown of the European economy, and the indirect impact on  Albania of the  repercussions of the global financial crisis, the economic growth rate dropped to less than 2% in 2012, and to 1 percent in 2013. The economic growth rate for year 2016 reached 3.5% according to the World Bank report on Balkan economies, while the Albanian government hopes to achieve an yearly growth of 3.8% for 2017.

Albania occupies a strategic position in the Western Balkans, and by developing a market economy, and the lack of tax burdens as well as the abundance workforce of educated young people, as well as for the low level of wages, Albania seeks to provide many investment opportunities for foreign investors.

Albania is also characterized by an abundance of natural resources as Albania enjoys a good potential of renewable energy sources, Albania also owns vast tracts of agricultural land, but it also has more than 400 km of excellent potential tourism coastline. In addition to possessing good reserves of valuable metals such as copper, iron and chrome.

Structural reforms, have contributed to legal, financial and administrative own trade liberalization and facilitating the establishment of business in promoting investor confidence in the Albanian economy measures.

The foreign direct investment attracted a fundamental pillar of the pillars of the future development of the Albanian economy, through the exploitation of natural resources, and the development of sectors that are still level of performance below the level, such as renewable energy, tourism, agriculture and infrastructure and services business. "

Albania adopts a free market economy, and seeks to create a favorable climate for attracting foreign investment. It has also signed a large number of bilateral investment agreements with several countries such as the United Kingdom, France, Germany, Italy, Austria, Switzerland and the United States, China, Russia, Israel, Egypt, Malaysia, Cyprus, Kuwait, Turkey, Serbia and others.

Albania enjoys excellent potential to qualify it to be a magnet for foreign investment, and there are still many sectors  that have not been exploited yet.

Embassy of the State of Qatar recommends that it should be referred to before starting any investment projects in Albania, in order to obtain more important information relating to the legal framework for the protection of foreign investments as well as other issues related to economic affairs.