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F I A A Foreign Investors Association of Albania

F I A A Foreign Investors Association of Albania. R E P O R T O N F I A A’s A C T I V I T I E S FIAA – Foreign Investors Association of Albania. March 20, 2007. About FIAA. FIAA was established in April 2000.

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F I A A Foreign Investors Association of Albania

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  1. F I A A Foreign Investors Association of Albania R E P O R T O N F I A A’s A C T I V I T I E S FIAA – Foreign Investors Association of Albania March 20, 2007

  2. About FIAA • FIAA was established in April 2000. • FIAA is an apolitical and non-profit organisation, entirely supported by membership fees and support from the founding members. • FIAA represents foreign investors in Albania with investments totalling more then USD 700 million. • FIAA is a well-respected organisation in between government and other world bodies, such as: IMF, World Bank, EBRD, OECD and OSCE.

  3. Organizational Structure • General Assembly • Board of Directors • Permanent Office

  4. InvestmentSectors • Airlines • Audit • Banking and Financial Institution • Construction and Infrastructure • Petroleum Industry • Cement and Bitumen Industry • Leasing • Beverage • Consulting • Insurance • Express Couriers • Hotels and Restaurants • Housing and Development • Telecommunication and Information Services • Training and Education

  5. Mission & Key Roles Mission • To contribute together with the Authorities to a better investment environment for foreign and domestic companies on the market through open, informal dialogue between different willing stakeholders in order to attract more investors coming in Albania. Key Roles • To provide support and direction in an unfamiliar local environment. • To provide a meeting place for Foreign Investors to discuss issues of mutual concern that lead to solutions. • To voice Foreign Investors’ concerns to government • To offer the government an international knowledge base for the establishment of sound economic structures • To provide a social atmosphere for foreign investors and to actively pursue • To attract foreign investors to the Albanian market place

  6. Highlightsfrom FIAA’s work & achievements A voice on the governments’ business roundtables • Since August 2002, FIAA is a member of the Consultative Council of Business at the Ministry of Economy. • The Consultative Business Council is where all major topics affecting foreign investors are discussed. • FIAA has been active in voicing the concerns and issues affecting its members.

  7. Highlights from FIAA’s works & achievements Some of theses issues • The yearly Fiscal Package and the draft/budgets • Changes to tax laws (VAT, Tax on Profit, Withholding tax, Social and Health Taxes) • Different changes on custom tax- • Financial Leasing Law • Arbitration Law • Several changes in the commercial Register Law and Commercial Enterprises Law • Various meetings for Informal economy reduction in Albania (suggestion and opinions) • Various meetings for Administrative barriers reduction in the investments field • WTO agreements with the regions countries and the investors interests in special products • Finally it was the discussion of the new law for the National Registration Center of Businesses which is going to be a one stop Shop for those investors that want to register their businesses in Albania. Different members of FIAA like Wolf & Theiss, Raiffaisen Bank, etc were involved in giving suggestions.

  8. Highlights from FIAA’s work & achievements Changing “Article 45” • FIAA Executive Committee together with representatives from WB, OSCE, The Bankers Association, Deloitte & Touche sent a very clear message to Government forcing it to back down. The clause of Article 45 pertained to seizing of bank accounts. As a result a draft proposition was prepared and submitted proposing a new law. Reduction of Administrative Barriers • Regarding the Reduction of administrative barriers, FIAA’s has provided its feedback and suggestions to consultants fro the WB Group through various meetings with the FIAA Board of Directors as the representative of the foreign Community in Albania for improving the business climate. (January 23rd, 2005) Agency for Promotion of Foreign Investments • FIAA was one of the initiators for the creation of the Agency for the Promotion of Foreign Investments becoming also, member of the Board of Directors in the Supervisory Council of the Agency. The Agency and FIAA have developed fruitful collaboration regarding the Investor information and servicing in Albania as well the online services.

  9. Highlights from FIAA’s work & achievements Collaboration with the General Directory of Taxes • Participation and fruitful discussions about the transparency of the actions in the Tax Authorities, measures against corruption, clear market competition which was held in March 2006 followed by anonymous questionnaires. • A useful tool was the preparation of one packet of Tax Legislation which was delivered by CD to all the members of FIAA.

  10. Highlights from FIAA’s work & achievements • The President of FIAA participated in the 16th Annual Session of Crans Montana Forum, the most prestigious meeting place where key public figures and economic decision-makers can meet to develop their contacts and thus further advance their projects. • FIAA with several members has participated in different Trade Fairs, the recent one was “Albania Open for Investments”

  11. Participation in International Events Collaborations with the Countries in the region (SEE) • FIAA has been keeping good contacts with the respective Foreign Associations of the Region by exchanging different information on investment opportunities creating so a link for all the potential investors of the Region. FIAA has been present in different meetings held by FIA Serbia and Montenegro, FIA Macedonia, FIAA Bulgaria having discussed about the importance of conveying regional business priorities in SEE, Regional challenges and Perspectives, the practicalities of Free Trade Agreements as well many other issues related with the SEE countries as a whole. • Another important initiative of the Region FIA-s was the creation a Regional White Book, which is an overview of all the countries in the region. Each FIA has an ID card to be presented in the Ministerial Conference in Vienna where FIAA was invited respectively. During the Conference, the President of FIAA made a great presentation of the business opportunities in Albania.

  12. Developed relationships with different international and local entities Workshops: • Albania and European Union the New Free Trade Area ( November 2004) • To inform the business Community the new trade regime in particular the tariff structure for industrial and agricultural products. • “Trade Remedies under the WTO” an activity whose purpose was the free exchange of views on the possibilities for protection under the WTO trade remedy legislation. (March, 2004) • “Licensing and Inspection Reform in Albania” with the objective to be in use in the ongoing and inspection reforms in Albania.

  13. Developed relationships with different international and local entities Workshops: • National Meeting organized by the Ministry of Finance, IMF and leaded from the Prime Minister of Albania to promote the changes in the fiscal and economical policies for the 2006 Year. It was attended by 50% of the FIAA members who brought essential issues into direct dialogues. (May 2006) • National Conference organized by the Ministry of Economy with discussions about the Law for concessions as a key factor for the economical development. (November 2006),FIAA was represented by the Director Executive and KLP Industries, Bitumen production. • Albania Country Presentation at the Business Forum Program in London, (EBRD Annual Meeting April 2004). FIAA was represented by the President who provided a private-sector perspective of the challenges and opportunities currently facing investors in Albania. • FIAA had a special invitation to the OSCE conference about “Stimulating Foreign and Domestic Investments” hold in Dublin, Ireland. FIAA was represented by the Vice-President of FIAA. Most of the usual issues effecting Foreign Investors were discussed with special attention on the legal systems and in particular the Judicial Systems.

  14. Promoting FIAA Developed contacts with the Commercial Attachés of most embassies • Meetings with an Economic Mission from Austria. Offering information and different opportunities to invest in Albania. Presenting to the Austrian Firms with different contacts from the existing and local investors in Albania as well with the Albanian legislation and Fiscal system. Organized Network Meetings • The network Meeting FIAA has been organizing since 6 years now has been of great assistance for the member and the other guests. Being all under the same roof with important bodies decision-makers like Prime Minister, Ministers, Ambassadors, Key Institutions directors, International organizations representatives including the local investors brings opportunities to develop and organize contacts. The idea of making presentation of your business in front of all the invitees has been very successful. Almost all the members have made presentations through FIAA Network Meeting. Establishing of FIAA’s image as a responsible representative organization of international Business • Through the contacts of FIAA was made possible the First Business Roundtable with the Government of Albania organized by “The Economist” Conferences. They launched the event during the Sixth Anniversary of FIAA where the Prime Minister of Albania, the Ambassador of US and the Governor of Bank of Albania were present.

  15. Publications FIAA regularly reports to its members on issues of pressing importance through • Newsletters • Periodic Bulletins • Fact Sheets …and more prepared with and by our Members.

  16. Future Plans • Organization of new meetings • New publications • New sector committees • More trainings & activities for members • etc..

  17. FIAA General Assembly Meeting THANK YOU FOR YOUR KIND ATTENTION !

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