Arab Today, arab today electricity corruption among top obstacles for business in albania
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Arab Today, arab today
Arab Today, arab today

Electricity, corruption among top obstacles for business in Albania

Arab Today, arab today

Arab Today, arab today Electricity, corruption among top obstacles for business in Albania

Electricity in black market
Tirana - XINHUA

Electricity supply, competition from the black market economy and corrupt practices are identified as top business obstacles in Albania, according to a new analysis published by the European Bank for Reconstruction and Development on Friday.

Access to electricity is the biggest problem for companies in Albania, the report said.

Competition from the shadow economy, where companies are usually not registered or seek to avoid taxes by under-reporting revenues, employee numbers or the wages they pay, remains a key obstacle for small and medium enterprises, the report said.

Corruption is listed as the biggest problem faced by large enterprises, and tax administration and access to land are among the chief constraints for new enterprises, it said.

The latest survey showed that over the last five years, firms felt considerably less constrained by the court system or issues linked to business licensing and permits and workforce skills.

Improvements in courts and bureaucratic procedures were mainly the result of measures taken by governments, such as improvements in corporate governance standards in line with European Union standards, equipping courts with electronic case-management systems or the introduction of one-stop shops for registering new businesses.

Inadequate workforce skills have become a less severe obstacle due to a reduced demand for and an increased supply of skilled workers as well as an increased return migration into the transition region in the wake of the global financial crisis.

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