Foreign businesses, citizens on the rise in Albania in 2017

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News sources reported that the number of companies with foreign capital in Albania is on the rise. The sources based its news upon information that indicated the growing number of these companies. Not only are foreign businesses increasing, but also foreign citizens to the country.

This year, their number of foreign companies has seen a 5.56% increase, which means around 1007 new companies were registered at the time one year ago only 937 were registered. In total, figures show that from January to July of this year, the number of new businesses that was registered at the National Business Center was 10645.

According to a source, the simplification of business registration procedures is showing positive results, given that the number of Albanian and foreign companies has well increased.

Chair of the National Business Center Vasilika Vjero said in an interview for Scan TV that an average of 1,700 new business are registered every month. Based on the official statistics provided by the center, there are over 190,000 active business all over Albania divided into physical and juridical persons.

According to the United Nations, foreign direct investment has become decisive for the performance of the Albanian economy. In 2016, foreign investments in Albania were worth 1 billion and 124 million dollars.

As for foreign citizens, sources said that the number of foreign citizens who have entered Albania in the first five-months of 2017 has been increased by 9.5% as compared to the same period of 2016, reaching to 1,321,474. The figures are reported by the Institute of Statistics (INSTAT) in today’s publication “Movement of citizens in Albania” May 2017.

According to the indicators, there has been an increase in the number of foreign citizens who have entered Albania not for one-day visits, but for long holidays. Thus, during January-May 2017 period this number has been 366,919, as compared to 132,729 it used to be over the same period last year.