Albania's FDI reaches US$341 million in 2005

The foreign direct investment (FDI) in Albania reached 341 million U.S. dollars in 2005, according to a report from the Agency for Promoting Foreign Investment of Albania.

Of the countries investing in Albania, Italy was NO.1, its investment accounting for 48 percent of all FDI in Albania. It was followed by Greece, with 43 percent. The remaining FDI came from countries such as Turkey and Macedonia.

Italy was the main strategic trade partner of Albania, with 73 percent of Albania's exports going to Italy, and 23 percent of its imports coming from the southern European country, said the council.

Experts estimate that FDI in Albania in 2006 is expected to stand at 220 million dollars. The largest investment sector will be transportation and public facilities, which is estimated to take up 32 percent of the total funds. The World Bank, the European Bank of Reconstruction and Development and Italy will be the main investors in the country.

The focus of foreign investment this year will be the the reconstruction of the energy network, which has attracted 16 percent of all the investment. Projects to do with the reform of the justice system and the agricultural sector are projected to attract nine percent and eight percent respectively.

Source: Xinhua