Tirana – “Now it’s the right time for a greater presence of American investors in Albania.” These were the words of the US ambassador Alexander Arvizu in a meeting with the Minister of Economy, Edmond Haxhinasto. Arvizu said that Albania has a significantly improved business climate. Minister Haxhinasto appraised the US as a strategic and economic ally for Albania.

He ranked the priorities of his work for the absorption of foreign investments, the new package of initiatives for all economy sectors, the encouragement of local produce as well as “Made in Albania” exports, the successful process of strategic privatizations with the final aim of economic growth and new vacancies. Haxhinasto and Arvizu exchanged ideas on the positive developments of TAP and its importance for the stability and economic development in the region.

This 24.5 mile highway was built for 60 million euros, a figure that is very inexpensive considering the parameters. The speed limit is 120 kilometers per hour which will further reduce the traveling time from Tirana to the south.

Albania’s central bank on Wednesday cut its key repo rate to a record-low level of 4% to stimulate economic activity amid low inflation, newswires reported.

“This easing of monetary policy will spur economic activity by providing more monetary stimulus,” Central Bank Governor Ardian Fullani said at the bank’s supervisory board meeting.

Despite the shocks from the eurozone crisis, Fullani said the Albanian economy had managed to maintain macroeconomic and financial stability in the first half of 2012, with GDP contracting just 0.2% in the first quarter of this year compared with the same period of last year, while average inflation was 1.9% in the second quarter, 0.8 percentage point higher than the first quarter and well below its 3% target.Source: bne

Tirana – Prime Minister Sali Berisha received a delegation of American and Italian entrepreneurs on July 20, headed by US Senator Harris B. McDowell III.

Senator Mcdowell expressed satisfaction with the visit that he is conducting in Albania. He stressed the interest of the group of investors to invest in Albania in the field of energy and environmental business, utilizing new innovations and technologies that contribute to the efficiency of energy use.

Representatives of the companies made a presentation of their expertise, mainly in the field of energy efficiency for lighting or cooling. PM Berisha noted that a major priority of Albania remains clean energy, the renewable one, as well as energy efficiency.