The Honorary President of IPPM, Prof. Dr. Arben Malaj on FDI-s, de-euroization and entrepreneurship level in Albania

The Honorary President of the Institute for Public Policies and Good Governance, Prof. Dr. Arben Malaj, was invited to the TV channel “Argument” on Scan TV as a member of the Supervisory Council of the Bank of Albania on some of the current issues of Albania.

The focus of this discussion was three issues, which relate to:

  1. Foreign Direct Investment in Albania, concretely Italian ones. On this, Mr. Malaj said that the growth of Italian investments in Albania necessarily requires the proper functioning of the Albanian legal state to guarantee the reduction of risk for foreign investors.
  2. De-euroization, which consists of the Bank of Albania’s strategy to reduce the use of the euro in Albania and the promotion of the national currency. In this context, Mr. Malaj, as a member of the Supervisory Council of the Bank of Albania, has explained that this strategy will not prevent citizens from using the euro as a medium of exchange or purchase, also due to the fact that remittances, especially those in the euro, occupy one significant share of the income of many Albanians. He said that this strategy does not have to be accompanied by panick by citizens, rather it aims to protect them from borrowing risks in other currencies and to increase the transparency and accountability of commercial banks to their clients.
  3. Level of entrepreneurship of Albanian families. Based on INSTAT’s data, Mr. Malaj has stated that the level of entrepreneurship is still low and that the share of the current small and medium-sized businesses provide income only to provide the livelihoods of these households and that they have no tendencies of growth in the future. Thus, he expressed the need to further facilitate procedures to open, develop, close and re-open a new business.

To learn more about this discussion (in Albanian language), please click on the link below:

 

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