The Netherlands was the largest foreign investor in Albania for the first quarter of this year.

Bank of Albania data show that Dutch investments were worth 40 million euros. Although it remains the main investor, Dutch investment flows have fallen by 59% compared to the same period a year ago.

One of the most important Dutch companies with a presence in Albania is Shell, but the large volumes of Dutch investments are mainly related to the fact that the Netherlands is one of the jurisdictions where offshore companies are registered, mainly holding companies in this country to control their international subsidiaries. Such important examples are Stakraft or Vodafone Group, which own their investments in Albania through companies registered in the Netherlands.

In recent years, companies that have won important PPP contracts in Albania have also been registered in the Netherlands. In these cases, the registration in the Netherlands is mainly aimed at hiding the real shareholders or beneficiaries of these contracts.

The second largest investor for the first quarter of this year was France, with 34 million euros, almost four times more compared to the same period a year ago. There are several important companies with French capital operating in Albania, such as ALEAT, Selenice Bitumi, but also some enterprises that invest in renewable energy. However, it is believed that in recent years French investments have come from several TAP pipeline subcontracting companies.

The third largest foreign investor in the first quarter was Italy, with a total amount of 29 million euros, up 21% compared to a year ago. Italian companies in Albania are especially focused on service branches.

Turkish investments also increased in the first quarter, reaching the value of 23 million euros or 15% more compared to the same period last year. Turkish enterprise in Albania is especially concentrated in some large companies of strategic sectors, such as Banka Kombëtare Tregtare, Albtelecom, Kurum, Limak or Ayen AS Energji.

Austrian investments increased by more than three times for the first quarter of 2021, amounting to 16 million euros, while Swiss investments decreased, amounting to 15 million euros, a value of one third recorded for the same period of one year. before. Swiss investments in recent years have been mainly related to the TAP pipeline and the completion of works has led to their gradual decline.

However, in terms of the total value of investments measured as stocks at the end of the period, Switzerland continues to lead, with about 1.69 billion euros, followed by the Netherlands with 1.47 billion euros and Canada with 1.16 billion euros.