Albania Basic Information

According to A2zdirectory, Albania is among the poorest European countries with a developing economy, with a significant share of agriculture and tourism. The state unit is a parliamentary republic. Executive power belongs to the government, especially its president. Albania is an EU candidate country, the approval to start accession talks was given by the EU Council in March 2020.

The Albanian economy has an unbalanced structure and is therefore highly dependent on external influences. Tourism and agriculture have the main share in the creation of GDP. Export performance is weak, only 30% of goods and services created are exported. Imports of goods are twice as high as exports. The largest trading partner is the EU. The passive balance of the current account of the balance of payments is balanced by income from services in the field of tourism and remittances of Albanians working abroad (especially EU and GB), which make up to 15% of GDP. The main mineral wealth of the country is oil, copper and other non-ferrous metals. The key and promising sectors of the Albanian economy for development are agriculture, tourism, transport infrastructure, renewable energy and mining of mineral resources.

Opportunities are opening up for Czech companies in the field of railway and rolling stock reconstruction, intelligent road transport systems, and the construction of new airports and ports. Other opportunities are offered in the energy sector, where solar and wind power plants are being developed, as well as in the supply of machinery and equipment for the mining and quarrying industry.

The potential for long-term growth is limited by the outflow of qualified labor abroad and the inability of state structures to control the gray economy, which accounts for up to 40% of GDP. The country faces high levels of corruption and weak law enforcement. The business environment is complicated with the connection of politics and business. An experienced and commercially and politically influential local partner is key for a Czech company to enter the market.

The covid-19 pandemic has affected the tourism sector and the export-oriented textile and leather industry the most. The economy coped with the drop in GDP in pandemic 2020 by increasing state investment at the expense of its indebtedness. However, the increase in debt is not significant enough to affect the country’s credit risk. Therefore, the world’s credit agencies have left the country’s credit rating unchanged. In 2021, according to government data, the economy recorded economic growth of 8.5%, for 2022 economic growth of 3.5% is expected (government), or 3.0% (EIU), or 2.0 (IMF). Year-on-year inflation is expected to range from 4% to 6% in 2022, the average inflation for 2022 is expected to be 4.2%. Unemployment will decrease slightly.

Practical telephone numbers (emergency services, police, firemen, information lines, etc.)

• Hygea Hospital Tirana, tel.: + 355 42 390000, hospital emergency service tel.: +355 42 323000
• American Hospital in Tirana – phone: +355 42 35 75 35
• integrated system: 112
• emergency medical assistance: 127
• traffic police: 126
• police – rapid intervention: 129
• firefighters: 128

It cannot be guaranteed that a person who speaks other than Albanian will answer the call on the numbers listed. If an ambulance is needed in the area of ​​the capital Tirana, the Emergency Response Team (ERT) can be contacted, phone number: +355 (0) 682112112; the crews speak English and provide immediate first aid or transport the patient to hospitals.

Contacts for legal offices for use in a possible dispute:

• Kalo & Associates , Perparim Kalo – managing partner, Tirana office: Kavaja Avenue, G-KAM Business Centre, 4th Floor, Tirana – Albania, Tel.: +355 42 233 532, Fax: +355 42 224 727, e-mail: [email protected], Web: www.kalo-attorneys.com,
• Boga & Associates , Genc Boga – Director, Ibrahim Rugova street, Green Park, Tower I, PO Box 8264, Tirana, Albania, Tel.: +355 4 2251 050, Fax +355 4 2251 055, Email: [email protected], Web: www.bogalaw.com,
• LPA Law Firm Albania , Oltjam Hoxhilli – managing partner, Tirana office: Rruga E Bogdanave, EuroCol Building 5th Floor, Tirana – Albania, Tel.: +355 4 48 05 499, Fax: +355 4 22 20 222, e-mail: [email protected], Web: www.lpalbania.com.
• PRiZM Law Firm (former implementer of the PROPEA project in Albania) , address: Rr. “Andon zako Cajupi”, Nd.3, H.11, K.2, Zyra Nr.3, Tirane, contact person: Ms. Enida Sena, lawyer, phone: +355 68 22 07 449, e-mail: [email protected]

Important web links and contacts

Country leadership:

• President – www.president.al
• Parliament – ​​www.parlament.al
• Government – ​​www.kryeministria.gov.al

Ministries and important state economic institutions:

• Ministry of Europe and Foreign Affairs – www.punetejashtme.gov.al
• Ministry of Finance and Economy – www.financa.gov.al
• Ministry of the Interior – www.mb.gov.al
• Ministry of Defense – https://www.mod.gov.al
• Ministry of Agriculture and Rural Development – www.bujqesia.gov.al
• Ministry of Infrastructure and Energy – www.infrastruktura.gov.al
• Ministry of Education, Sports and Youth – www.arsimi.gov.al
• Ministry of Health and Social Protection – www.shendetesia.gov.al
• Ministry of Justice – www.drejtesia.gov.al
• Ministry of Culture – www.kultura.gov.al
• Ministry of Tourism and Environment – www.turizmi.gov.al
• Albanian Electricity Company – www.kesh.al
• Energy Regulatory Office – www.ere.gov.al
• General Directorate of Customs – www.dogana.gov.al
• Government Investment and Development Agency – www.aida.gov.al
• Statistical Office – www.instat.gov.al
• National Bank of Albania – www.bankofalbania.org
• Public Procurement Agency – www.app.gov.al
• National Entrepreneurship Center – www.qkb.gov.al

Important business associations:

• Association of Foreign Investors – www.fiaalbania.al
• Tirana Chamber of Commerce and Industry – www.cci.al
• Union of Chambers of Commerce and Industry of Albania – www.uccial.al
• Business Association of Albania – www.biznesalbania.org.al
• Confederation of Albanian Industry – www.konfindustria.al
• Albanian Agricultural Trade Council – www.kashalbania.org/en

Offices and missions of international organizations in Albania:

• International Monetary Fund – www.imf.org/external/country/ALB/
• Delegation of the European Union in Tirana – www.eeas.europa.eu/delegations/albania_en
• United Nations Development Program in Albania – www.al.undp.org
• World Bank – www.worldbank.org/en/country/albania
• European Bank for Reconstruction and Development – www.ebrd.com/albania
• Organization for Security and Cooperation in Europe – www.osce.org/albania
• US Agency for International Assistance – www.usaid.gov/albania
• Council of Europe in Albania – www.coe.int/en/web/tirana/home