Amid climate change challenges, Albania, which is primarily reliant on hydropower, is transitioning to a resilient green economy by diversifying into solar and wind energy. Albania is to date also the only Western Balkan country to have approved the objectives set by the European Union on renewable energy and energy efficiency, thus acting as a catalyst for regional joint success towards the fulfilment of all EU requirements in the energy domain. These facts have made the country attractive to international investors.
In addition to the good work of the Albanian Government in achieving this success, an important role is played by the country’s foreign investment community, under the banner of the Foreign Investors Association of Albania [FIAA], who have made important investments in the fields of renewable energy, oil and gas, construction, mining and manufacturing.
These companies mainly hail from the European Union and have a European entrepreneurship culture and advanced standards, and which – through their investment policies and energy-efficient technologies – support green transition and dialogue on building a green, low carbon and climate-resilient economy in the country. These investors are the best examples and, through an organisation like the FIAA, they transfer their knowhow and provide policy advisory services that help the country and the local business community to promote green solutions and energy efficiency investments. On the other hand, our member companies provide an important role with their corporate environmental, social and governance (ESG) performance. Furthermore, they are also investing in the right skills to advance the green transition process.
Albania is the only Western Balkan country to have so far aligned with EU renewable energy and efficiency goals, thus enhancing its appeal to global investors
The FIAA’s most effective contributions to the development of Albania’s economy and the improvement of the country’s business climate – and which receive solid recognition from member companies and local and international partners – are the committees it has founded, the FIAA White Book and Survey that focus on advancing the business climate in Albania, the Business Ethics booklet, and various conferences and networking events that the association organises.
The FIAA operates active committees (Tax, Energy, Digital Economy) that comprise top managers and experts from its member companies. These forums discuss government and stakeholder- related matters, underscoring the association’s commitment to elevating sector impact in Albanian enterprises and the broader business ecosystem.
The FIAA White Book is the main instrument for improving the business climate. It represents the private sector’s evaluation of the country’s business climate and serves as a transparent platform for dialogue with the authorities. Its purpose is to make doing business in Albania easier by removing unnecessary barriers and proposing concrete reform proposals to the country’s authorities.
The FIAA’s Annual Business Climate Survey is a key publication that garners significant attention from the local media, government and international institutions operating in Albania, while its Business Ethics booklet is produced every few years and includes the best business practices promoted by international institutions, such as the EU and OECD, as well as by member companies.