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DASH: Albania's economic development is harmed by unfair competition

2024-07-18 17:20:00, Aktualitet CNA
DASH: Albania's economic development is harmed by unfair competition
Aries

The US Department of State has identified a number of problems in the annual report on the Investment Climate in Albania.

DASH says that Albania continues to maintain its macroeconomic stability, despite the 2019 earthquake, the COVID-19 pandemic and the impacts of the Russian economic war in Ukraine.

However, it emphasizes that the economic development of Albania is vulnerable to corruption, unfair competition, the informal sector and the constant lack of labor force.

"Albania has great economic potential, a sound legal framework and has made progress in limiting corruption to a low level, digitizing public services for both citizens and businesses. However, foreign investors perceive Albania as a difficult place to do business. They cite persistent corruption, including in the public sector, the judiciary, public procurement, unfair and distorted competition, the large informal economy, money laundering, frequent changes in fiscal legislation and poor contract enforcement as ongoing challenges for investment. and business in Albania", says the report.

DASH underlines the fact that the emigration of qualified young people has created a labor shortage./ CNA





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