Finding qualified labor is for the second year in a row the main concern of entrepreneurs, according to the Business Index of the American Chamber of Commerce (AmCham Business Index) for 2023.

The index was presented at the Economic Conference on "Economic Restructuring for a New Perspective", a collaboration of the American Chamber of Commerce with Monitor Magazine.

"We have had an improvement in the index, but we are still below the limit of 50. There are things we need to worry about such as the workforce, monopolistic practices, etc.", Grant Van Cleve, head of the American Chamber of Commerce, said.

"Exchanges with the USA have increased to the highest level ever achieved, exceeding Dollar 100 million, with a balance in our favor. These confirm the good moment of the Albanian economy with the highest growth in the region. Albania has become a country that is attracting foreign investors," declared Blendi Gonxhe, Minister of Economy, Culture and Innovation.

The index reached 47.57, out of 100, increasing by +4.16 points compared to the previous year. Despite the improvement, the index remains below the 50 mark.

"The business concerns of the last 10 years are the same which means something is wrong. The main concern is related to the workforce problem which is related to what I have often raised about the departure of the middle class," said the deputy of DP, Jorida Tabaku.

The top five concerns reported by respondents for 2023 remained: Finding qualified local staff, monopoly, and unfair competition, the informal economy, government bureaucracy, and the overall level of taxation.

Despite a slight improvement in 2023, finding qualified local staff is still reported as difficult or very difficult by 74.1% of responding companies. This indicator received 25.95 points, out of 100, almost half the average of the total index.

A similar trend is reported for "Monopoly and unfair competition" (with an improvement of +3.03 points), rising to 34.16 points; "Informal economy level" (+2.43 points), at 35.71 points; and "government bureaucracy" (with 36.02 and an improvement of +2.74 points), which, despite the improvement, remain a concern for the majority. of respondents.

"Energy supply" and "Order and safety in the country" turned out to be the elements with the best perception for the companies surveyed during 2023. "Energy supply" reached the highest score of 72.05. The "Order and Security" indicator reached 64.44, significantly improving by +7.85 points.

A similar positive perception was also reported in 2023 for relations with the public administration, where the most positive indicator is still the report with the Customs Authorities, with 64.4 points, with an improvement of 1.51 points.

Relations with customs authorities are the fourth most positive element, after Energy and Security. Relations with the tax authorities have deteriorated slightly by -0.31 points but remain at a high level of 60.85 points, ranking right after Customs.

The respondents' perception of the "Performance of the Albanian economy" in 2023 has improved significantly (+13.99 points), accompanied by an improvement in "Demand for goods and services" (+3.90 points), "employment" (+ 5.01 points) and "Investments" (+5.15 ??points). The indicator for "Demand for goods and services in exports" fell by -3.29 points for the same period.

For the year 2024, the members of the American Chamber predict a positive trend for the progress of the Albanian economy, investments, and business climate.

The AmCham Business Index Survey 2023 was conducted online from February 24 to March 18, 2024. The total number of respondents who participated in the survey is 161 of which 156 had fully completed the survey by answering all questions.

The survey was addressed exclusively to members of the American Chamber and asked for their opinions regarding the business environment in Albania during the past year (2023) and their assessment for the current year (2024).