A potential candidate country for EU accession, Albania is a member of World Trade Organization since 2000 and a NATO member country since April 2009.Strategically located in the Western Balkans, with its developing market economy, low tax burden and its young, educated and cost competitive workforce, Albania offers many opportunities for investors. Albania’s natural resources include significant hydro, solar and wind power capacity, large tracks of agricultural land and over 400 km of coastline with excellent tourism potential. The country is rich in oil and gas and is endowed with valuable mineral deposits such as copper, iron and chrome ores.
Albania has achieved strong economic positive growth despite the global economic and financial crisis with a GDP growth of 6% for the period 2000-2009, and of more than 3% for years 2010 and 2011 respectively.Albania’s economic freedom score is 66,9 out of 100 making its economy the 54 Freest in the 2014 Index. Its overall score has increase by 1.7 points, with notable improvements in investment freedom and trade freedom. Albania is ranked 25th among the 43 countries in the Europe region, and its overall score is above the world average.
Albania ranks in the countries with the highest performance index meaning that the number of foreign investments received was above expectations and this thanks to improvements in its investment climate. The focus for the future development of the Albanian economy will remain on attracting FDIs with a focus on sectors where the Albanian economy has unexploited potential both in terms of natural resources as well as in developing sectors that are yet under-performing such as renewable energy, tourism, agribusiness, infrastructure and services.