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The founder of the Balkanomics Platform: The chemistry of business in Albania has not yet improved significantly

Politiko 2024-09-16 19:42:05

 The founder of the Balkanomics Platform: The chemistry of business in Albania

The founder of the Balkanomics Platform, Enio Jaço, at the same time the leader of the third regional conference, says for the Voice of America that the business climate in Albania has not yet seen any significant improvement.

"I don't think there is any significant improvement as far as the business climate is concerned. This is one of the areas where Albania can make a strong improvement. I don't think there is progress on reforms that should have been made years ago. Corruption continues to be widespread, monopolies and unfair competition, as well as the informal economy, especially affects small businesses," said Mr. Jaço.

He says that Albania's economic growth is similar to other countries in the region, but it could be greater, after the opportunities to attract billions of euros of investment that the new EU growth plan for the Western Balkans now adds, in exchange of developmental reforms.

"The growth plan and these billion euro investments also come with demands for reforms. It will be very important in the next two years for Albania to undertake these reforms. These reforms have to do with the rule of law, with corruption, with the prevention of money laundering, as well as with other reforms that are expected to bring foreign investments to Albania. If Albania will make these reforms, the economic growth will probably be double the growth it has now", said Mr. Jaço.

The head of the World Bank's office in Albania, Emanuel Salinas, drew the attention of the conference to the greater care for human capital in the country, while 13 percent of Albanians live in poverty, despite the great opportunities for employment.

"I think that more attention is being paid to migration and less attention is being paid to human capital, an area where actions can be taken, such as educating the youth to get closer to the labor market," said Mr. Salinas - Human capital is not is being used properly, said the head of the UN office, for example the employment of women is hindered by many parallel commitments. The 25 percent of youth who are outside the labor market and education have many opportunities to train and become job seekers.

In the third regional conference "Balkanomics", the unfair competition, the lack of qualified workers, and the business climate were discussed with concern. In this conference, the vast potentials of the diaspora for investment in the region were also examined, after their extensive professional knowledge and their connections with foreign markets, as well as the creation of conditions for employment of those immigrants who return to their homeland to live and re-enter the the labor market.

Economic experts, officials and business representatives from the countries of the region emphasized that the Western Balkans have great opportunities for economic growth through Intelligent Investments and through focusing on the reforms required by the EU.

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