State Risks Paying Millions in Arbitrage

State Risks Paying Millions in Arbitrage

TransAtlantic Petroleum Oil company TransAtlantic Petroleum has sued the Albanian state at the International Court of Arbitrage in Switzerland. The company accuses the Albanian state for a unilateral breach of contract and seeks $70 million in damages. In October 2016, Albpetrol canceled the company’s right to exploit two oil wells in the Çakran–Mollaj and Gorisht–Çokul respectively, claiming […]

The Reason Why Foreign Investments Won’t Come

The Reason Why Foreign Investments Won’t Come

Bank of Albania data show that during the second quarter of 2017, direct foreign investments have decreased over 25% compared to the same period last year. Meanwhile, emigrant departures have gone up by 2.7% compared to the same period last year. These data suffices to show once more the propagandistic declarations of the government that continues to […]

Albanian Cargo Ship Seized in Libya

Albanian Cargo Ship Seized in Libya

An Albanian cargo ship ENVI 1, registered under Panaman flag, has been seized by Libyan customs officers on the suspicion of smuggling construction materials out of the country. The crew of eight consists of five Albanians and three Montenegrans, including the captain of the ship. Libyan media report that the Albanian ambassador in Egypt stated that the ship […]

EBRD: Improve Infrastructure and Rule of Law

EBRD: Improve Infrastructure and Rule of Law

On September 12 during the economic forum held in Bled, Croatia, Vice Chairman Pierre Heilbronn of the European Bank for Reconstruction and Development (EBRD) stated that Western Balkan countries have to improve their infrastructure and strengthen the legal system if they want to attract more foreign investors. In an interview for Reuters, Heilbronn stated that the EBRD […]

The Trans-Atlantic Pipeline: A Short Explanation

The Trans-Atlantic Pipeline: A Short Explanation

Today, a meeting between ambassadors, ministers and donors was held in Tirana regarding the Ionian-Adriatic Pipeline Project (IAP), an extension of the Trans-Atlantic Pipeline (TAP). The Ionian-Adriatic Pipeline will have a length of 511 kilometers and it is predicted to cost around 618 million euros. The pipeline will be launched in Albania, will continue in […]

Puglia Captures 18 Tons Albanian Weed in 6 Months

Puglia Captures 18 Tons Albanian Weed in 6 Months

The Italian Guardia di Finanza has captured yesterday morning off the coast of Gargano in Puglia 4 tons of Albanian marijuana. Three persons on a yacht were arrested for trafficking the drugs.   This is not the first boatload of drugs captured by the Italian forces. During the last six months, they captured a total of 13.5 […]

Entrepreneurs Sound Alarm over Oligarchic State Capture

Entrepreneurs Sound Alarm over Oligarchic State Capture

Albanian enterprises have expressed their concern about the highly unfavorable business climate in the country. In a letter the Independent Association of Albanian Entrepreneurs has declared that Albanian business doesn’t manage to be sufficiently competitive in the region and that Albanian is not attracting foreign investments compared to the rest of the region. A considerable part of […]

Dutch Postbox Company Receives Landfill Concession

Dutch Postbox Company Receives Landfill Concession

The waste incinerator in Tirana will be built and managed for 30 years by Integrated Energy BV, a dubious postbox company registered in the Netherlands. According to the Ministry of Environment, the contracting authority, Integrated Energy was the only company that took part in the tender, making an offer of around €128 million. The tender […]

The Regional Economic Area: An EU Mirage?

The Regional Economic Area: An EU Mirage?

On Saturday August 26, EU Commissioner for Enlargement Johannes Hahn attended an informal meeting hosted by Prime Minister Edi Rama for the prime ministers of the “Western Balkans Six”: Serbia, Bosnia & Herzegovia, Kosovo, Montenegro, Albania, and Macedonia. The meeting focused in part on the implementation of the Regional Economic Area (REA), agreed during the […]

The Responsibility for Failing Foreign Investments

The Responsibility for Failing Foreign Investments

Yesterday, Prime Minister Edi Rama decided to blame the Albanian corps diplomatique for the absence of foreign investments in Albania. In a way, this was the first time that Rama openly admitted that his government failed to improve the Albanian investment climate. Only recently the Prime Minister denied the failure of his foreign economic policy after the […]

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