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World Bank supports improvements in Albania’s business enviroment
The project will support the Government's efforts to strengthen the public sector's capacity to improve the business environment to attract investments and foster exports.
The total project cost is US$9.8 million, with the remaining US$0.5 million to be financed by the government of Albania.Several barriers affect the business environment and the prospects for sustained economic growth in Albania. Unfair competition and practices, non-supportive regulatory practices, and bureaucratic and administrative barriers are still significant. Imports continue to increase, while exports are low, resulting in a widening trade deficit.
The Government of Albania recognizes that the long-term economic growth of Albania requires a business environment conducive to export-led private sector growth.
The BERIS Project aims to address these challenges by supporting improvements in the business environment.
"This operation will assist the government to facilitate business entry and operations in the formal economy and to strengthen the enterprise sector's capability to increase exports towards the region and the EU," said Silvia Minotti, head of the World Bank team designing the project.
The project has two main components: (i) facilitating business entry and operations by improving quality of business regulations, including their potential impact on market competition; and (ii) strengthening the enterprise sector's capability to export to regional and EU markets by developing further the Metrology, Standards, Testing and Quality (MSTQ) system.
By the time the project is completed, it is expected that the costs, the amount of time, and the number of steps necessary will be reduced in order for businesses to comply with regulations affecting business entry and operations.
Since Albania joined the World Bank in 1991, Bank commitments to the country
total approximately US$855 million for 61 operations.
