Over 100 micro, small, and medium-sized enterprises were declared winners of funds made available by the Albanian Investment Development Agency (AIDA).

AIDA funds will assist these enterprises in increasing their competitiveness, developing products and services, innovating/renovating technology, developing handicrafts, and supporting women entrepreneurs to promote exports and strengthen their service-related skills and products for a sustainable market.

The Deputy Minister of Economy, Culture and Innovation, Sokol Duma, at the ceremony of announcing the winning companies, emphasized the importance of the development of small and medium-sized enterprises, since they are the foundation of the Albanian economy.

The director of AIDA, Laura Saro encouraged the winners to diligently follow the implementation of their projects, emphasizing the importance of the effective use of funds to achieve the desired results.

"This financial support of businesses marks an important step in fulfilling AIDA's mission to promote economic development and the empowerment of MSMEs," she said.

AIDA offers financial support of up to Lek 2.5 million for SMEs for the development of activities, financial support of up to Lek 1 million for innovation, up to Lek 1.5 million for competitiveness, as well as up to Lek 800 thousand for startups and crafts.

Micro, small, and medium-sized enterprises are the engine of the economy, as they dominate employment, sales, and added value. Official INSTAT data show that over 99% of active enterprises operating in the country are micro, small, and medium-sized enterprises. The data also show that 80.1% of net sales are made by MSMEs and contribute over 80% of total employment.