CDP Signs Agreement to Promote Sustainable Growth in Albania       CDP (Cassa Depositi e Prestiti) and SIMEST have signed a memorandum of understanding during a mission to Albania, marking a significant step in their broader strategy to strengthen the group’s activities. The collaboration aims to develop sustainable growth initiatives for businesses in emerging economies, including the recent opening … Read More

European Havens Welcome U.S. Remote Workers Sans Digital Nomad Visas in 2024       In 2024, several European destinations warmly welcome U.S. remote workers without imposing the necessity of obtaining a Digital Nomad Visa. These countries offer a haven for Americans seeking to explore, work, and immerse themselves in diverse cultures without the bureaucratic hurdles associated with visa applications. … Read More

IFC Partners with EFSE Fund and Finance in Motion to Boost MSME Growth in Eastern Europe       €50 million to support MSMEs in Albania, promoting inclusive growth. 40 percent of the investment to be directed towards women-owned MSMEs. Frankfurt, Germany, January 24, 2024—IFC has announced a €50 million investment in the European Fund for Southeast Europe S.A. SICAV-SIF … Read More

The Vital Role of Consultants in Times of Crisis       In the unpredictable landscape of today’s business world, organizations often find themselves navigating through unforeseen challenges that can potentially disrupt operations, damage reputation, and impact the bottom line. Crises come in various forms, ranging from natural disasters and cyber-attacks to financial downturns and global pandemics. In times of … Read More

Albania’s Construction Sector: A Highway For Foreigners Investors       Albania, a country with a rich cultural heritage and breathtaking landscapes, is rapidly becoming a hotspot for foreign investors, drawn by the magnetic allure of its booming construction sector. In recent years, the nation has witnessed an unprecedented surge in foreign interest, as investors flock to capitalize on the … Read More

Strengthening Cybersecurity: New Legislation Requires Businesses to Implement Backup Servers       In response to the escalating threat of cyberattacks, governments worldwide are taking proactive measures to safeguard sensitive information and critical infrastructure. The latest initiative comes in the form of a new draft law on cybersecurity introduced in parliament, outlining a comprehensive set of obligations for private companies. … Read More

From Fasonismo to Excellence: The Industrial Transformation of Albania in the Textile Sector       Cotonella’s withdrawal from Albania after 27 years of operations prompts a thoughtful reflection on the dynamics of the textile sector in this Balkan country. In assessing the reasons behind this decision and future prospects, challenges and opportunities emerge that deserve in-depth analysis and a … Read More

Simplified tax on small business profits       Businesses with an annual turnover of up to 8,000,000 lek are subject to simplified tax on small business profits. This applies to all taxpayers engaged in business activities. Taxable income includes various revenue sources, such as sales of goods and services, participations, interest, and income from the use of both movable … Read More

Albania’s Progressive Leap: A New Tourism Law for Enhanced Growth and Sustainability         Albania’s government recently passed a progressive tourism law, replacing the outdated 2015 legislation. The Minister of Tourism and Environment highlighted the need for this update, emphasizing a vision aligned with the current state of the tourism sector. The new law, developed in consultation with … Read More

Construction Sector in Albania Surpasses Europe         A recent Eurostat report on housing reveals that the construction sector in Albania is thriving more than any other European country. Eurostat measured the size of the construction sector across Europe, using the gross value added (GVA[1]) generated by this economic activity as a percentage of the total GVA. For … Read More