EU businesses are leaving Albania. INSTAT data shows that 141 enterprises have finalized their activity over the past year.
Albania noted 6,259 foreign-owned businesses operating locally for 2018, of which 4056 were from European Union countries.
But, despite the withdrawal of businesses from the European Union, there is an increase in ventures from other countries outside the European Union.
According to the last report by the European Commission, Albania is considered as problematic in regards to competition, law enforcement in relation to property ownership and stability of fiscal policies.
Foreign investors in Albania have mostly 1-4 employees and operate in the trade sector. Meanwhile, enterprises with over 50 employees occupy only a very small portion of our economy.
European businesses are mostly from our two neighboring countries of Greece and Italy with enterprise owners or co-owners of Italian and Greek origin representing 52.8% of total foreign joint ventures.
These investments are mainly concentrated in Tirana and Durrës.
Throughout 2018, the Albanian economy was mostly represented at a rate of 90% by small business, which are defined as having a maximum of 4 employees and are often family-run businesses.
Meanwhile, only 1.2% of enterprises have headcounts of more than 50 employees; an unchanged report for several years, showing that economic development remains difficult.