EBRD to Help Govt Improve Investment Climate

The European Bank for Reconstruction and Development (EBRD) said it is inviting expression of interest, seeking two individual experts to assist the government in its reforms to improve the investment climate in the country. "The assignment is expected to start in October 2018 and has an estimated overall duration of 20 months, which is subject to renewal conditional on satisfactory performance and the availability of donor funds," the EBRD said in a statement late on Monday. The expected outcome of the assignment is to increase the capacity building of the Ministry for Protection of Entrepreneurship in dealing with complaints from businesses as well as accomplishment of drafting strategies, policies and advice to address both individual and systemic issues related to taxes, customs, and employment. The contract will be financed by the EBRD Shareholder Special Fund. Foreign investors cite corruption, particularly in the judiciary, a lack of transparency in public procurement, and poor enforcement of contracts as continuing problems in Albania, the US Department of State said in its annual Investment Climate Statements for 2018 published in July. According to the publication, the investors report ongoing concerns that regulators use difficult-to-interpret or inconsistent legislation and regulations as tools to dissuade foreign investors and favor politically connected companies.

 Source: Albanian Daily News