The new Government implemented reforms to bring a middling business environment up to global standards
Over the past year, Albania has made significant progress in establishing itself as a credible, multi-party democracy and investment-friendly economy. The new Government implemented reforms to bring a middling business environment up to global standards. In fact, in the World Bank’s 2015 Doing Business Report launched last week, and Albania rose for the first time into the top half of the global ranking for ease of doing business, growing by 40 places in one year.
Albania has also proven to be able to maintain positive growth rates and financial stability despite the ongoing international economic crisis. Albania has become a leading reformer in the Balkans, and the granting of EU candidate status reflects this increasing momentum.
The Albania Oil, Gas and Energy 2015 Summit, taking place on 17-18th March 2015 in Tirana, will assess the most recent developments in the Albanian Energy sector. The Ministry of Energy will give an overall analysis of the industry and discuss the several initiatives implemented in the hydrocarbon and renewables sectors; starting with an open-door licensing round for 12 onshore blocks and 1 offshore block; significant updates on the TAP - the Trans Adriatic Pipeline; new fiscal initiatives, as well as modernising hydropower stations.
Mark Hodgson, Vice-President of Business Development at Bankers Petroleum, the main E&P company in Albania and Lead Sponsor of the Summit, will also review the Canadian operator’s development in the country, the evolution of its assets and the industry as a whole. Over the past ten years, Bankers has contributed up to 30% of the foreign direct investment in Albania and the investment grows every year, said Hodgson.
Petromanas, Weatherford and National Oilwell Varco are also supporting the forum as Platinum, Coffee Break and Exhibition Sponsors respectively.
2015 will see Albania highly focused on developing its Energy sector and creating a business environment that is attractive to investors. The Albania Oil, Gas and Energy 2015 Summit will be the only platform for the Government, investors, main operators, leading service providers and experts to gather and, together, build Albania’s future within Europe.