3. Albania - 3
P
rime minister Sali Berisha, who served as Albania’s president during the turbulent
1990s, is seeking a second term as prime minister next year. He is very proud of the
progress his country has made in recent years, and welcomes the chance to lead
Albania into a new era of prosperity. “Albania has made major strides forward in fighting
corruption, cutting taxes, achieving economic stability, attracting foreign investment, and
adopting EU standards,” he says.
EU integration process moving forward
Concerning Albania’s integration into the EU, the
prime minister says that it is not a question of “if”, but
“when”. “Albania still has a lot of work to do before
joining the EU, but we are trying. I do not think it will
take 10 years,” he says confidently.
The prime minister points out that Albania was
asked to join NATO last year, and this year the Stability
and Association Agreement (SAA) the country signed
with the EU in 2006 will come into force. He explains,
“The EU is our main export trade partner and we
follow all the rules of the World Trade Organisation. The SAA recognises that Albania has
been fighting drug trafficking and organised crime and is trying to meet EU standards.”
Global financial crisis not slowing down growth
Concerning the current global financial crisis, the prime minister believes that Albania
will continue to achieve growth in spite of the challenges, and says that foreign direct
investment in Albania continues to grow, particularly in the energy (including alternative
energy) and financial services sectors. “Our banking system is well capitalised and stable.
This is the right time for investors to enter the Albanian market,” he says.
Streamlining the investment process
Albania has streamlined the investment process. Sali Berisha explains, “It now takes
only one day to register a business in Albania, and costs only €350.” Now the government
is working to speed up the process of obtaining construction permits while also continuing
to fight corruption and remaining red tape.
Making world aware of the new Albania
A key goal for the prime minister is to improve Albania’s international image by making
the world more aware of everything the country has already accomplished. He says,
“Albania’s image has been tarnished because of things that happened here in the past, and
it is imperative for Albania to change its image by showing the world how the country has
evolved. This is a very different country from the one it used to be, a country progressing
rapidly with a growing middle class. In addition to achieving macroeconomic stability at
home, Albania is strengthening its regional ties. We are doing our best to promote stability
in the region and are committed to dealing with our problems.”
Looking forward to bright future
Sali Berisha is very positive about Albania’s future and welcomes foreign investors to visit
the country themselves to see its great potential first hand. He says, “Albania’s primary focus
in regards to foreign investment is to aid companies in the private sector. Many companies
have been very successful here, including Vodafone, and we expect the economy to grow
even more rapidly as Albania builds more ties with other countries in the region. Improved
transportation networks will increase tourism and promote a greater flow of capital.”
Brussels Press is responsible
for the contents of this report.
Brussels Press is a division of
United International Press.
Introduction
Prime minister, Sali Berisha 3■■
Minister of economy, Genc Ruli 4■■
Banking & Insurance
Minster of finance, Ridvan Bode 5■■
Tirana Bank 6■■
Banka Popullore 7■■
Banka Credins 8■■
Signal Group 9■■
Apha Bank Albania 10■■
Atlantik Insurance 12■■
Trade & Industry
Boosting industry and trade 14■■
Chamber of Commerce and Industry■■
of Tirana 15
Albanian Chrome 16■■
Doko 17■■
Euromax 18■■
Alb-Star 20■■
Alumil Albania 22■■
ARSI 24■■
PRIMA sh.p.k. 26■■
Energy
Alpet 28■■
Communication
Eagle Mobile 30■■
Comport 32■■
Transport
Minister of transport, Sokol Olldashi 33■■
National Air Traffic Agency 34■■
Shega-Group S.A. 36■■
Albanian Airlines 38■■
Tourism
Exceptional investment potential 39■■
National Tourism Agency 40■■
Meridiana Lufthansa City Center 41■■
Useful addresses 42■■
Prime minister very hopeful
about Albania’s future
Sali Berisha
prime minister
Contents
4. 4 - Albania
T
he government of Albania is rapidly bringing the country’s
economy up to EU standards and is focusing on creating
new opportunities for foreign investment. As minister of
economy Genc Ruli explains, “Albania has implemented radical
changes in its legislation over the past three years and now we
have a legal system that is similar to those of the EU. We have also
renewed the principle of a flat tax rate, which is very attractive
for EU investors.” He adds that the government’s strategy will be
to finance its investments in the country through international
markets, thus benefiting from low interest rates.
One of Albania’s investment
attractions is its strategic location
connecting the western EU and fast
growing regional markets. To capitalise
on this advantage, the government is
investing extensively in upgrading
the country’s infrastructure. Both the
road network and the port system
are being modernised and expanded,
according to Genc Ruli. He points out,
“We are creating new market options
and new opportunities for investment.
Concerning ports, for example, we are renovating and upgrading
our current ports and plan to create new ones.”
Streamlining process of doing business
Albania already offers low operating costs for businesses
and the government is now concentrating on streamlining the
process of creating and doing business in Albania. “We are estab-
lishing one-stop-shop services through simplifying licenses and
permits,” the minister explains.
Economy minister cites high
potential sectors
Sector
Genc Ruli
minister of economy
Genc Ruli singles out the services sector as having particu-
larly strong investment potential. “The services sector has grown
by 25% since the 1990s and now accounts for 30% of GDP,” he
says. Noting that tourism is another sector growing rapidly, he
adds that education is a priority for the government in order to
provide skilled human resources as well as new job opportunities
for local young people.
Energy sector offers outstanding potential
Energy is another sector with excellent growth prospects. The
minister says that around two thirds of the country’s potential
for hydroelectric power has not yet been exploited. “We want to
take advantage of Albania’s potential for hydro, wind and solar
power,” he adds, noting that long-term investors have the most
to gain by investing in the energy sector.
The government has already privatised around 90% of the
economy and is working to further modernise and develop a
thriving free market system. Genc Ruli explains, “For the EU
business community, Albania is either unknown or perhaps people
have a distorted impression of the country as one where crime and
corruptionflourish.Weareworkingnotonlytoimprovetheregulatory
environment and legal system but also to change Albania’s image.
Albania has already been recognised by NATO. I advise investors to
come here and see the opportunities for themselves.”
“We are creating new market options
and new opportunities for investment.
Concerning ports, for example, we are
renovating and upgrading our current
ports and plan to create new ones.”
5. Albania - 5
A
lbania has revised its tax regime to attract more foreign
investment and now presents even more opportuni-
ties for investors in the EU. As Ridvan Bode, minister of
finance, explains, Albania’s corporate tax rate has been reduced
from 25% at the end of 2005 to 10% this year, while direct taxes
for small businesses have been reduced from 20% in 2005 to
5% this year.
Thanks to such changes, Albania
now has one of the lowest and
most investor-friendly tax regimes in
Europe. “We have also cut down the
number of national taxes and tariffs
from 26 to seven. These changes are
the result of a fiscal policy that aims
to boost economic growth and bring
more foreign investment to Albania,”
the minister explains.
Adding to Albania’s appeal for
foreign companies, the government
has reduced Albania’s customs duties from 6% of GDP in 2006
to 2% this year. “In addition to reducing taxes, we have begun
to modernise our tax payment system, and have provided the
option of paying taxes online. We have made significant tax cuts
and we are ensuring that taxes are paid,” Ridvan Bode says.
Tax reductions should boost state revenues
The ministry of finance is currently restructuring its 2009
budget to comply with criteria set by the International Monetary
Fund. “We believe that the recent tax reductions will lead to
increases in federal revenues. This has been the case in other
countries in the region,” the minister points out. He notes that
Albania is already achieving real GDP growth of around 10%.
In addition to reducing taxes and streamlining the tax payment
system, Albania has signed double taxation agreements with
several countries, including Germany, Spain and Italy.
Finance minister cites
investor-friendly fiscal policies
Banking & Insurance
Ridvan Bode
minister of finance
Strong liquidity in banking sector
The minister notes that Albania’s banking sector is strong
even at a time when the global economy is cooling. He says,
“Our banking system is very liquid compared to those of other
countries, which is rare during this time of global financial crisis.
Albania’s economy is not based on credit; more than 60% is
based on the cash flow of companies. We have actually increased
capital flow.”
Boosting foreign investment in Albania is one of the govern-
ment’s key goals, and Ridvan Bode is confident about Albania’s
ability to attract investors in the EU. He says, “We have gained
recognition from some large, well-known EU companies, and
others will follow. The Albanian economy is small but very strong,
offering stability, high GDP growth and significant trade activities.
The macroeconomic fundamentals are stable, we are improving
infrastructure, the costs of starting a business are low, and the
region offers many opportunities for investors in the EU.”
“Our banking system is very liquid
compared to those of other countries,
which is rare during this time of global
financial crisis. Albania’s economy is not
based on credit; more than 60% is based
on the cash flow of companies. We have
actually increased capital flow.”
6. 6 - Albania
T
irana Bank, which became Albania’s first private bank
when it was launched by Greece based Piraeus Bank
Group in 1996, has been steadily expanding over the
past four years and is now ranked the country’s second largest
bank in funding.
The bank has won a number of
awards for its high quality services,
and in July this year, global banking
leader Deutsche Bank named
Tirana Bank the winner of its “2008
Euro STP Excellence Award” for its
payment services in Euros. Tirana
Bank’s parent bank, Piraeus Bank,
won the award as well for the sixth
year in a row.
Tirana Bank has now 46 branches and a well-developed
ATM network throughout Albania, and employs more than 500
people. It has developed a wide range of services personal-
ised to fit its customers’ needs. According to Dimitris Santixis,
managing director, “Our deposits and loans are healthy and
we have no real concerns for the bank concerning the global
financial crisis.” He adds that the bank plans on moderate
growth for 2009, and that it will also continue to focus on
consolidation and further reforms during the year.
Focus on business lending
The bank is a universal bank specialising in serving
corporate and SME customers, and now handles accounts for
over 200 corporate clients. “Business lending accounts for 72%
of our business,” Dimitris Santixis explains. Although some
of the bank’s customers are Greek businessmen, 95% of the
business is with Albanian businessmen and retail customers.
A full range of services, highly trained professional staff,
and the backing of the Piraeus Bank Group — which guarantees
strong financial foundations as well as regional reach — give
Tirana Bank its competitive edge.
In 2004, the bank established Albania’s first leasing
operation, Tirana Leasing, which provides leasing of vehicles,
professional equipment and machinery and which has become
a leading provider of specialised business services in Albania.
Tirana Bank has made a long-term commitment to Albania
and will continue expanding its branches network and its
Country’s first private bank
continues to expand
Tirana Bank
Banking & Insurance
Dimitris Santixis
managing director
lending business, having faith in the good prospects of the
country on the way to European integration. Tirana Bank
welcomes contacts with foreign companies and investors in
Albania and is ready to offer them the best possible banking
support.
For more info: www.tiranabank.al
7. Albania - 7
Banking & Insurance
B
anka Popullore began operating in March 2004, and only
three years later it had expanded to 30 branches, had
some €300 million in total assets, served around 40,000
clients, employed 300 people, and was rated among Albania’s
top six banks. French banking giant
Société Générale acquired a 75% share
of the bank in July 2007 and today
Banka Popullore has 43 branches
(with two more in process) and a
very diverse portfolio evenly divided
between retail and corporate banking.
It has around €235 million in deposits,
of which €25 million are corporate and
the remainder are retail, and around
€125 million in loans.
Edvin Libohova, chairman of the
board, says that Banka Popullore plans to continue to expand
in Albania and that the bank already has synergy projects with
Greece, Macedonia and Montenegro; the Société Générale group
is very active throughout the region. He adds that Banka Popullore
follows the highest international standards and that its staff is
trained by Société Générale. French investors in particular will find
doing business with Banka Popullore very easy, but all investors
from Europe will feel at home with the bank’s stellar services.
Personalised service, commitment to Albania
Albania’s banking sector is highly developed and competitive.
In this environment, Banka Popullore stands out, according to
Edvin Libohova, in its efficiency and rapidity as well as its lack
of bureaucratic red tape compared to its competitors. He adds,
“The brand, logo, and name of Banka Popullore stands for per-
sonalised service. This is a bank dedicated to serving customers
individually. Our branch bank managers are all from the local
communities where the branches are based, so that they know
Fast growing bank offers
world-class service
Banka Popullore
Edvin Libohova
chairman of the board
View of a branch in Tirana
their clients and the local business sector.” Banka Popullore is
also well known for its corporate citizenship and for its strong
commitment to Albania.
To maintain its competitive edge, the bank plans to increase
its lending portfolio as well as offer new products, including
e-banking, MaestroCard/MasterCard and ATM systems at all
branches. Edvin Libohova says that the bank very soon will offer
Leasing services and is also considering increasing its Micro
Financing activities.
Banka Popullore welcomes the chance to work with foreign
investors in Albania. Edvin Libohova says: “Invest in Albania, because
the opportunities are unlimited. You have everything here: climate,
people, support, and a convenient location. Come and visit even for
one or two days to see everything Albania has to offer.”
8. 8 - Albania
Banking & Insurance
B
anka Credins (Credins Bank), one of Albania’s first private
banks, has been providing top quality banking services for
the Albanian market since 2003, and has a shareholding
capital of e25.5 million (US$36.5 million) as of the end of 2008.
Operating as a commercial bank, Credins Bank provides a wide
range of banking products and services. Its skilled professionals
have exceptional expertise in management, credit operations,
treasury services, financial risk management and more.
Backed by a group of shareholders who represent some
of the country’s most successful enterprises, Credins Bank
represents the potential of Albania’s private sector. Last year
the bank signed an agreement for an equity participation of
two foreign equity funds, establishing the foundations for
continued financial success.
Credins Bank has quickly built up its network to include
33 branches in 10 cities throughout the country, and aims to
have a total of 40 branches in service by the end of 2009.
Another recent move for the bank has been to add even
more products and services, with a special focus on retail
banking. The bank has been tailoring products to fit its
customers’ specific needs and has been improving the rates it
offers. It has also created a special deposit system, initially for
funds coming from Albanian emigrants abroad, which provides
very good rates for 12-month and 24-month investments.
Credins Bank has also launched a savings product which
customers can access for special needs, a savings account
for children, creative loan offerings (including the “Happy
Summer” loan to finance holidays), and student loans for
university students.
Serving foreign investors
The bank welcomes the chance to serve foreign investors
in Albania. Around 51% of the bank’s lending is to corporate
clients; now Credins Bank is looking to attract more small
and medium sized enterprises and micro enterprises, which
the bank views as a high potential market.
While it is a private bank, Credins Bank also partners
with the public sector and is ranked among very few local
banks, which have developed excellent relations with the
government, including a number of ministries and subsidiary
state entities.
Albanian private bank puts
customers first
Banka Credins
Credins Bank is focusing on continued growth and on
attracting more international clients. Currently it is ranked
number six in the market. Credins Bank will remain a bank
which puts its customers first and will continue to live up to
its motto: “We speak your language.”
For more info: www.bankacredins.com
9. Albania - 9
T
he Sigal Group leads Albania’s insurance sector. The dynamic
enterprise was founded in 1999 as one of Albania’s first
private insurance companies and has grown rapidly to
become the country’s top insurance firm. Sigal now has more
than 250 agencies throughout Albania, and in 2003 it expanded
into Kosovo, where Sigal Kosovo offers non-life insurance. In
2004, Sigal launched its life insurance division in Albania as well
as Sigal Macedonia. In 2008, the Sigal Group achieved a premium
volume of e27.4 million, a 17% increase over the previous year.
Today, according to CEO Avni
Ponari, Sigal offers a wide range of
life and non-life insurance products,
including accident and health
insurance, motor vehicles coverage,
marine and transport insurance,
aviation insurance, insurance against
fire and other property damage,
liability, credit and surety insurance,
all classes of life insurance, life/death
and matrimony/birth insurance, unit
linked policies covering investment
funds, and pension fund insurance,
among others. It is also the only insurance company in the region
licensed to provide re-insurance.
Ranked Albania’s top insurance company
Sigal has been ranked Albania’s insurance leader since 2002
and holds a 32% share of the local insurance market. “Finance
Central Europe magazine has named Sigal the best insurance
company in Albania for the past three years in total of premiums,
return on assets, and gross profits,” Avni Ponari says proudly.
Sigal was the first insurance firm in Albania to attract foreign
investors. The Austria-based Uniqa Group is the company’s
biggest shareholder; Uniqa increased its share in the company
to 46% in 2008. American Albanian Enterprise Fund has a 13.3%
share and Albanian shareholders have a 40.7% share. Overall,
60% of Sigal’s shareholders are strategic foreign shareholders.
Solid track record as partner
When it initially acquired shares in Sigal, the Uniqa Group
secured the possibility of a majority acquisition of the Albanian
firm in 2010. In fact, Uniqa’s experience with Sigal has been so
advantageous that it stepped up its schedule. Konstantin Klien,
Local insurance leader attracting
international partners
Sigal Group
Banking & Insurance
Avni Ponari
CEO
CEO of Uniqa, explained last year, “The positive experiences we
have had in the past few months of close cooperation with Sigal
have encouraged us to skip a step in our staged plan for acquiring
a majority of the company and purchase 46% at this time. Uniqa
hereby sends a clear signal of commitment to the dynamically
developing region in general and to Sigal in particular.”
Looking for more partnerships
Sigal is currently looking to form more international partner-
ships. “As the leading local insurance firm in Albania as well as
one of the strongest insurance companies in the region, Sigal
is well placed to work with international companies looking to
establish a presence in fast growing regional markets,” Avni
Ponari points out. Sigal has a proven track record of strong
performance and is ready to assist investors take advantage of
business opportunities in Albania and beyond.
The Albanian, Kosovar and Macedonian insurance markets
are expanding rapidly but premiums per capita and the share
of insurance premiums in each country’s GDP remain well below
the average in Western Europe. The regional insurance sector
represents outstanding investment potential, particularly for
Sigal’s partners.
For more information, visit www.sigal.com.al
Andreas Brandstetter, member of the Management Board of
Uniqa, handing in the Uniqa Tower Key
10. 10 - Albania
T
he Alpha Bank group is one of the biggest banking
groups in Greece, where it was founded in 1879. It
has 956 branches throughout the region, including 432
branches in Greece and almost as many (524 branches) in
South-eastern Europe. The bank has a presence in Cyprus,
Romania, Serbia, Bulgaria, FYROM, the UK and Ukraine.
Alpha Bank entered the
Albanian market in 1998 and has
proved instrumental in supporting
Albania’s economic development.
The bank has been involved in
financing a number of key projects,
including the construction of the
Durres-Morina highway and of the
new Tirana International Airport
in partnership with the Albanian
government.
13% local market share
Alpha Bank Albania now has a 13% share of the local market
and has been steadily expanding. It has established a network of
43 branches throughout the country and employs approximately
340 people. Alpha Bank Albania is implementing a balanced
growth model, supporting its loan portfolio through local
deposits. The bank plans to increase its current market share
through ongoing modernisation, including the introduction of
new technologies. One example is online banking services, which
Alpha Bank recently introduced. After many years of successful
presence it has become known among Albanian enterprises and
individuals as a bank that can be trusted.
Already ranked one of Albania’s top foreign banks, Alpha
Bank aims to continue to promote the growth of Albania’s
banking sector and the local economy.
Retail activities and regional expansion
Mr Andreas Galatoulas, Alpha Bank Albania’s country
manager, explains that the bank’s strategy focuses on two
key sectors of activity that offer the highest margins and
the best growth prospects: retail banking in Albania and
particularly loans to individuals and small businesses, and
improving products and services for wholesale customers.
“The Alpha Bank strategy aims to create an even stronger
and more efficient institution with significant benefits for our
Bank’s market share continues
to grow
Alpha Bank Albania
Banking & Insurance
Andreas Galatoulas
country manager
shareholders and customers. Alpha Bank’s plans are being
implemented with decisiveness, drawing upon our expertise
and methodical work, on the back of strong growth dynamics
and state-of-the-art infrastructure,” he says.
Loans grew by 87% in 2008
Last year was a very good year for Alpha Bank Albania in
spite of global financial sector challenges. According to Mr
Andreas Galatoulas, the bank delivered a pre-tax profit of
€10.4 million, mainly through its retail operations. “Mortgage
loans accounted for 42% of our portfolio and grew by 87%
during 2008, while deposits grew by 33%, delivering a loan-
to-deposits ratio of 94%,” he explains.
Full portfolio of products and services
Alpha Bank Albania offers a full portfolio of products
and services to satisfy the demands of its local and interna-
tional clients. Its services include loans for working capital,
investment in fixed assets, and start-ups, as well as a full
range of products addressed to individuals.
Ready to facilitate foreign investors in Albania
The bank has also positioned itself as a bank of choice
for foreign investors in Albania, to whom it offers the same
quality services and opportunities as any other company in
the country. ‘’Our in-depth experience in the local market
can prove to be a real advantage for international investors
here,” says Mr Andreas Galatoulas.
11. Albania - 11
In fact, having invested over €50 million in Albania,
Alpha Bank is dedicated to attracting more foreign direct
investment to the country to help keep Albania’s economic
growth on track. Mr Galatoulas explains, “Alpha Bank is in a
position to help investors take advantage of all the oppor-
tunities that Albania offers, and serves as an illustration of
this market’s growth potential. For example, Alpha Bank
was recently involved in financing three major projects in
Albania concerning infrastructure and telecommunications.
Alpha Bank is considered to be the leading bank in Albania
for foreign investors who are seeking solutions and expertise
in this market. Alpha Bank rests on a foundation built by
trust and its strong reputation in Albania.”
Impressive track record of supporting local
economy and community
Alpha Bank has a strong track record in supporting major
projects in Albania. In 2004, Alpha Bank was part of a crucial €85
million loan to assist Vodafone in expanding and upgrading its
services in Albania, a project that was instrumental in bringing
Sector
modern telecommunications service to the country. It also brought
the first private-sector player into the local telecom sector.
Alpha Bank provided €15 million of the loan over eight years,
while the European Bank for Reconstruction and Development and
the International Finance Corporation (the private sector arm of the
World Bank) each provided €35 million over nine years. The loan
package represented Albania’s largest ever debt-financed project
and its first syndicated private sector, long-term loan.
Alpha Bank Albania also supports the local community.
In March 2008, for example, the bank donated €50,000 to
assist the victims of a military depot explosion in Vora. The
bank also has a scholarship programme which has provided
scholarships to a number of Albanian students.
For more information, visit www.alpha.gr
12. 12 - Albania
A
tlantik Insurance, the third private company to enter
Albania’s insurance sector, has quickly made its mark in
the country’s fast growing insurance industry. Atlantik
was launched in 2001 by Dritan Celaj, owner of Rivera Construc-
tion, a leading local insurance enterprise. Atlantik has pursued a
winning strategy of providing top quality services with a focus on
developing customer trust.
15% market share
Today, Atlantik serves around
72,000 clients, or around 15% of the
local insurance market. The company
doubled its capital from ALL 100
million (e787,088) in 2001 to ALL 401
million (e3.14 million) in 2007, and
tripled its capital in 2005. In 2007,
the company achieved turnover of
e9.5 million. Its stockholder equity
has reached ALL 300 million (e2.35
million) and is growing rapidly. Its client list includes many of
Albania’s top companies, such as API, Albanian Radio-Television,
EFC Cement, International Commercial Bank, Alpha Bank, EHW,
Ferlud Group, Samco, Usluga, Riviera Construction and others.
Atlantik has been instrumental in boosting the growth of
Albania’s insurance sector, where acquiring insurance coverage
was not the norm for Albanians. Explaining the company’s
outstanding success, Dritan Celaj says, “Atlantik came up with
a new and contemporary vision in Albania. It offers financial
security and stability, in order to satisfy clients’ needs and insure
their life, property, health, business, and future. Our strategy is
simple. It is based on a providing a guarantee of risk protection
to all our customers in Albania. Atlantic makes it our priority to
be the leading provider of universal high quality services, and we
are continually introducing many new services.”
International partnerships
Atlantik works with SCOR Group, France’s biggest re-insurer, and
with Gen Re, Hannover Re in Germany, Polish Re in Poland, Markel,
Canopius,CatlininEngland,PartiaRe,GICandothers.Atlantikislooking
to establish more productive international partnerships. Dritan Celaj
explains, “Atlantic has a history of working with partners abroad and
seeks to expand its network of new international partners. We want to
work with companies that can offer experience and help implement
new products while instilling financial strength and security.”
Insurance sector leader
planning regional expansion
Atlantik Insurance
Banking & Insurance
Dritan Celaj
general director
The company’s mission is to provide its clients with dif-
ferentiated insurance products through a specialised staff of
around 200 insurance agents working in Atlantik’s extensive
network of more than 100 branches throughout Albania. The
company’s head office is in Tirana and it has offices in Durres,
Fier, Vlore, Elbasan, Korce, Gjirokaster, Shkoder, Kukes, Berat,
Diber, Lezhe and Lushnje. Atlantik makes sure its clients
can always count on speedy and efficient service. “Atlantik
is always nearby to help manage risks and settle claims
promptly,” Dritan Celaj points out.
Wide range of coverage
Atlantik provides a wide range of insurance coverage,
including property, health, motor, accident, marine and cargo,
liability, and engineering insurance as well as guarantees and
13. Albania - 13
Banking & Insurance
credit insurance, among other specialised
products. One of its new products is a
travel insurance package that includes
access to insurance support through a 24-
hour toll-free number.
Atlantik’s highly trained staff offers
expert guidance for all customers. As
Dritan Celaj points out, “Our company
aims to have more than simple business
relationships with our customers; we see
our clients as partners working with us on
matters of mutual interest.”
47% rise in registered premiums
between 2006 and 2007
Albania’s insurance sector has been
growing rapidly, by around 10% between
2001 and 2007 alone, and Atlantik has
been keeping pace with this growth.
Atlantik achieved a very impressive 47%
rise in its registered gross premiums
between 2006 and 2007, and in 2008, the
company achieved a further 10% growth.
Dritan Celaj expects Atlantik to double
that percentage in 2009 by attracting
new clients and issuing more insurance
policies.
Atlantik’s long-term goal is to
carve out a niche in the high potential
regional insurance sector. It will enter
the markets of Kosovo, Macedonia and
Greece in the near future and within 10
years the company aims to have a 20%
share of the regional insurance sector,
boosting its share at the rate of around
5% to 7% per year. Atlantik is making
extensive efforts in meeting the legal
criteria for entering new markets and
aims to make significant investments in
expanding its reach beyond Albania. A
key goal for the company is to implement
all EU standards and directives for the
insurance sector.
Boosting demand for voluntary
insurance
To achieve these ambitious goals,
Atlantik has determined an innovative
strategy based on stimulating the
expansion of voluntary insurance
programmes in addition to the mandatory
insurance that currently dominates the
insurance market in Albania. Altantik is
looking to boost the number of policies
it issues for fire insurance for property,
insurance against robbery and natural
hazards, health and auto insurance,
credit and guarantee insurance, coverage
for transported goods and other types
of insurance. Atlantik is developing
marketing campaigns to inform people
about the advantages of insurance.
An additional goal for Atlantik is to
help expand and strengthen Albania’s
financial services sector in general and
to open an Albanian securities market,
whose bonds market would benefit
Atlantik. Atlantik also wants to step up
its co-operation with banks by providing
reciprocal services. “Atlantik is in a very
solid financial position, which allows
us to take on more responsibilities and
to respond to the growing demand for
financial services in the local business
sector,” Dritan Celaj says.
Significant potential of Albanian
market
Dritan Celaj explains that Atlantik’s
success story reflects the potential of
Albania’s insurance sector as well as the
attractiveness of Albania as a business
base. He says, “Atlantik is a 100%
Albanian company that has proved it
can achieve growth, profitability and
efficiency and to operate according to
standards comparable with those of the
EU. We want to associate the Atlantik
name with trust. Our guiding principle is
to provide the best possible services to
each of our customers.”
Atlantik will continue to lead Albania’s
insurance sector and help to stimulate the
growth of the regional insurance market.
It will also continue to provide its share-
holders with impressive returns. Dritan
Celaj concludes, “Atlantik strives to be the
benchmark of professionalism, service
excellence and market confidence to
the company’s stakeholders. We work to
provide our shareholders growth, profitabil-
ity and efficiency ratios that are comparable
with the best standards of the market.”
For more info: www.atlantik.com.al
14. 14 - Albania
A
lbania remains one of the poorest countries in Europe,
with per capita income of around e2,780 in 2008, but
with the help of EU funds it is steadily bolstering its
economy and stepping up its industrial and trade activities.
Almost 60% of all workers in Albania are employed in the agri-
cultural sector, although the construction and service industries
have been expanding recently, the latter boosted significantly
by ethnic Albanian tourists from throughout the Balkans. The
services sector is the leading source of GDP, accounting for around
39%, followed by agriculture (24%), industry (13%), transport
and communications (12%), construction (11%), and remittances
from Albanian workers abroad (approximately 12.8%).
Free-trade agreements with EU and regional
neighbors
Between 2003 and 2007, Albania achieved an average 5.5%
annual growth in GDP, but the daunting trade deficit reached
around 22% of GDP in 2007. That year, Albania’s imports totalled
e3.3 billion and its exports totalled only e794.3 million.
Albania is working hard to boost its exports. Most of its trade
(around 68%) is with EU member states (mainly Italy and Greece),
and the Albanian government signed a free-trade agreement with
the EU as part of its Stabilisation and Association Agreement negoti-
ations; the interim agreement entered into force in December 2006.
According to this agreement, trade between the EU and Albania is
duty-free for around 90% of agricultural and industrial products.
Albania has also signed a multi-regional free-trade agreement
that went into force in May 2007, building on previous bilateral
agreements with Macedonia, Croatia, Kosovo, Bulgaria, Romania,
Bosnia and Moldova.
Albania’s main natural resources are oil, gas, coal, iron, copper
and chrome ores. Albania’s leading exports are textiles and
Boosting industrial and trade
activities
footwear; asphalt, metals and metallic ores and crude oil; and
vegetables, fruits and tobacco.
Albania’s minerals exports totalled €121.5 million in 2007,
while metals and metal products totalled €116.6 million.
Other main exports in 2007 were textiles (€214.3 million),
shoes and accessories (€166.9 million), electrical machinery
and equipment (€31 million), and vegetables and processed
vegetables (€21.4 million).
Albania’s main imports in 2007 were mineral products (€509
million), electrical machinery and equipment (€432 million),
metals and metal products (€377 million), textiles (€263 million),
chemical products and alloys (€218 million), prepared foods
and drinks (€210 million), vehicles (€203 million), vegetable
products (€166 million), stone and cement (€103 million), and
plastics and rubber products, including tires (€101 million).
Italy main trade partner
Italy is Albania’s leading trading partner by far, followed by
Greece, although Albania is forging trade ties with new markets,
including China. Albania’s trade with Italy totalled €1.4 billion in
2007, of which €534.8 million was in exports and €890.7 was in
imports, while Albania’s trade with Greece in 2007 totalled €539
million, of which €64.9 million was in exports and €474.7 was
in imports.
Italy accounted for 72% of Albania’s exports in 2007,
followed by Greece (8.8%) and China (2.7%). Leading sources
of Albania’s imports in 2007 were Italy (27.6% of total imports),
Greece (14.8%), Turkey (7.4%), China (6.8%), Germany (5.6%),
Switzerland (5%), and Russia 4.2%.
Albania is working hard to attract foreign investment in
export-oriented enterprises that will help the country boost
its economy.
15. Albania - 15
T
he Chamber of Commerce and Industry of Tirana (CCIT)
has been operating for almost 150 years to promote
Tirana’s business and industrial sectors. “The CCIT is now
independent and self funded, and membership is voluntary. The
CCIT truly represents the business community,” explains Prof.
Gjokë Uldedaj, chairman.
The CCIT’s services include lobbying for the business community
at the highest levels of government, as well as representing the
local business sector abroad. Different departments within the
CCIT handle such issues as registering a business, patents and
trademarks, fairs and exhibitions, research, business training,
and general business services. “Many of our research projects
receive EU funding,” Prof. Gjokë Uldedaj points out. Soon the CCIT
will house a branch of the National Licensing Centre.
The CCIT’s research efforts focus on specific issues, such as
developing sustainable tourism in the Durres area or upgrading
transportation infrastructure in Albania’s port cities. The CCIT
has also partnered with other countries, particularly Italy, in
its research projects. Prof. Gjokë Uldedaj says, “We are making
serious attempts to be involved in several projects with Turkey’s
Making “Doing Business in
Albania” even better
Chamber of Commerce and Industry of Tirana
Sector
Prof. Gjokë Uldedaj
chairman
Meeting with the CCI general assembly.
chamber of commerce concerning
safety in the workplace and environ-
mental standards.”
A priority for the CCIT is to help
bring Albania’s business sector up to
EU standards. “We are trying to get
EU standards in place, so that when
Albanian businesses partner with EU
businesses, the standards required will
have already been met,” Prof. Gjokë
Uldedaj says. The CCIT works closely
with many other regional chambers of
commerce, including the International Chamber of Commerce.
First point of contact for investors
The CCIT welcomes the chance to serve as a first point of
contact for foreign investors in Albania. Its services for investors
include access to the chamber’s database on local companies as
well as the support of a qualified staff of 40 employees.
16. 16 - Albania
For potential investors in Belgium, the CCIT has already
organised two events in Belgium and the Benelux region,
and now aims to sign a memorandum of cooperation with
the Belgian Chamber of Commerce. Prof. Gjokë Uldedaj says,
“The Albanian embassy in Brussels is very focused on creating
contacts between our businesses and Belgian businesses. We
definitely see the relationship between Belgium and Albania
vastly improving in the coming years. The doors have been
opened for both business communities.”
Albania has made great progress in recent years and
has all of the conditions necessary for foreign investors
to achieve success, Prof. Gjokë Uldedaj believes. He cites
Albania’s more favourable tax regime as well as its more
stringent regulatory environment as reasons investors can be
Trade & Industry
confident about choosing Albania. He explains, “The negative
images of Albania should be considered as outdated because
the country has been changing rapidly, especially in the last
two years thanks to the enormous reforms that have been
undertaken to improve the business climate. For example,
taxes have been decreased from 20% to 10%. There has
also been a visible decrease in percentage of the ‘black’
economy.”
Good partners and high potential sectors
One of the CCIT’s chief tasks is to make sure foreign
investors are aware of partnership possibilities in Albania.
“Foreigners can find good and mature partners here.
Businesses have matured over the years and the experiences
they have gone through have prepared them to work with
foreign partners,” Prof. Gjokë Uldedaj explains.
Albania’s strategic location is another plus. “Foreign
investors should consider Albania as a base for accessing
a very promising regional market. We have direct links to
Montenegro, Kosovo, Macedonia and Greece,” Prof. Gjokë
Uldedaj points out.
He welcomes contacts with companies and investors
interested in everything Albania has to offer.
A
lbanian Chrome, which produces 60% of the chrome ore
mined in Albania, operates the region’s only ferrochrome
plant. The company has been developing rapidly since it
was acquired by DCM Decometal (Austria) in 2007. Between 2007
and this year, Albanian Chrome has invested €11.5 million in new
technologies for its ferrochrome production facility. It also doubled
the salaries of its 1,000 employees.
CEO and managing director Elton
Beqi explains, “By introducing this
new technology, we have ultimately
improved Albania.” Now the company
plans to invest in further development
of its Bulqize mine.
Albanian Chrome exports all its
production, with the chrome ore
going to China and Russia and the
Chrome producer boosting
Albania’s exports
Albanian Chrome
Elton Beqi
CEO and managing director
For more info: www.albanianchrome.com
ferrochrome (used in the manufacturing of high quality steel) to
the US, Germany and Austria.
Now Albanian Chrome aims to restore the international reputation
Albania once had as a top source for high quality chrome. Elton Beqi
says, “We are positioning Albania once again as an exporter of
premium chrome ore. We are improving the country’s image and also
boosting our company’s business.” Urging investors to target Albania,
he concludes, “Albania is small in territory but has huge potential
thanks to its natural resources. Our premium products can be exported
at premium prices.”
Meeting at the International CCI in Paris
17. Albania - 17
D
oko has contributed to some of the most important infra-
structure projects undertaken in Albania and beyond. The
company is a regional market leader in the production
of high voltage lines and is known for its infrastructure project
development. Doko is also a producer of concrete and an importer
of select flooring products.
The company has grown and
expanded steadily since its founding.
Fatbardh Doko, general director,
explains, “Doko was established in
1996 through the privatisation process.
We began by building general infra-
structure, mainly sewerage systems
and roads, and steadily expanded
into new areas, including electricity
infrastructure. Today, we are Albania’s
leader in the field of high voltage
power lines, and we are also present
in Kosovo.”
Doko is well known in Albania for its electricity infrastruc-
ture. Fatbardh Doko explains, “Our main business is producing
high voltage lines but we also work on electrical substations.
We have a fully integrated business as we start from the design,
Ensuring up-to-date infrastructure
in Albania and beyond
Doko
Trade & Industry
Fatbardh Doko
general director
then the construction, and finally the laying of the lines. We
have been working throughout the country. We constructed the
line that supplies energy to the tunnel that connects Albania to
Kosovo as well.”
Thanks to its proven expertise, Doko is often solicited by
foreign companies operating in Albania. It has provided project
designs, construction and repairs for various companies, and
assisted Cabo Drilling in helping Balkan Resources drill and mine
for minerals. Doko also works with RSW (Canada) in the energy
field.
Major projects with investment potential
Doko is currently involved in two major projects that present
interesting opportunities for foreign investors. One is a €120
million, 58 megawatt power plant, and the other is a road
connecting Tirana and Elbasan by a tunnel; the latter project
is expected to make Elbasan a key transport hub. Fatbardh
Doko says, “Albania is very inviting for investors, especially in
terms of infrastructure. Elbasan has already been approved by
the government as a free trade zone within an industrial area,
and the new road will also create the potential for new tourism
facilities and services in the Elbasan area.”
Doko will continue to uphold high
standards. As Fatbardh Doko explains, “We
have never failed in our endeavors and
people here know what the Doko name
stands for. We are one of the top three
companies operating in the Balkans in our
fields. We are working and growing, and
this gives us hope for Albania’s future. My
long-term strategic vision is to have my
company represent Albania internationally.”
For more info: www.doko.al
18. 18 - Albania
E
uromax, Albania’s first supermarket chain, has brought high
quality goods at competitive prices to Albania’s retail sector. The
chain’s hypermarket in the very popular Qendra Tregtare Univers
(Universe Trade Centre) 8 km outside Tirana now covers some 6,000
sq m and offers around 20,000 articles,
including 8,000 food items. The store’s
offerings include fresh foods, textiles,
clothing, frozen foods, children’s clothing
and products (all imported from France),
cosmetics, kitchenware and much
more. Euromax sells both Albanian and
imported goods, from Italian pasta to
French wines.
Flagship hypermarket just
outside Tirana
The Euromax network of stores now
includes the flagship hypermarket in Universe Trade Centre as well as
Euromax Express stores in Tirana, Durres, Elbasan, Fier, Vlore, Lezhe,
Shkoder and Korce. Euromax Express stores, all located in major urban
areas, are geared to providing convenient retail options for urban
shoppers, and cover around 400 sq m to 1,200 sq m. Euromax plans
to open more stores throughout the country as the Albanian economy
develops.
Always investing in the future, Euromax opened an 18,000 sq m
distribution centre last year. CEO Zafir Ademi says, “Our new distribu-
tion centre is going to build a very strong logistics chain for all our
points of sales.”
350 suppliers, around 30% of them international
Euromax works with suppliers of food and non food items from
all over the world; around 30% of its suppliers are foreign companies,
including such well known names as Granarolo, Bongrain, Fini, Solo
Italia, Messner, Raspini, Leoncini, and Auchan. By the end of 2008,
Euromax was working with 350 suppliers, with all of which Euromax
has established annual contracts. To expand its network of suppliers,
Euromax participates in a number of international trade fairs, including
Anuga( Keln,Germany), Sial (Paris), Cibus (Italy), Macef (Milano), and
Messe (Frankfurt). The Euromax group is open to exploring opportuni-
ties with new international suppliers.
Euromax applies EU standards in all its operations and employs
the latest technologies. In 2007, for example, it acquired the Aldata
G.O.L.D. Core Retail Supply Chain Suite to streamline its operations and
deliveries. Aldata is a leading provider of software solutions for the
retail industry.
Albania’s first supermarket chain
maintains competitive edge
Euromax
Zafir Ademi
CEO
Euromax, part of a bigger and stronger chain
Euromax is the Albanian “branch” of Delta Maxi Group. Delta Maxi
Group, operating under Delta Holding, is responsible for the retail
segment of the Holding and it operates in the following regional
markets: Serbia (brand name Maxi), Montenegro (brand name
Maxi), Bosnia and Herzegovina (brand name Tropic) and Bulgaria
(brand name Piccadilly). In Albania it operates under the brand name
Euromax. Delta Maxi Group has succeeded in setting new standards in
the Serbian retail market. Achieving intensive growth and a leading
position in Serbia, the retail chain of Delta Maxi Group, consists of
the following brands (retail concepts): Mini Maxi (small shops up to
400 square meters of selling space), Maxi (supermarkets from 400
to 2,000 square meters), Super Maxi (hypermarkets with more than
2,000 square meters of selling space), and Tempo (shops with more
than 12,000 square meters). Based on the success it achieved in
Serbia, Delta Maxi Group began spreading its retail concept outside
the borders of Serbia, thus consolidating its status as the biggest retail
company in the region. At the Top 500 list of the largest companies
in the Central Europe, audited by Deloitte’s experts, Delta Maxi was
ranked 101st.
Very competitive pricing policy
Euromax’s General Manager Michel Brule, who has had extensive
experience working with the Carrefour chain and other hypermarket
groups in his native France, explains that Euromax is based on the
principle of high volume sales with minimum profits, since prices in
the Albanian market must be kept relatively low.
Euromax’sproductlinesarearound30%lowpricedproducts,50%
medium priced products, and 20% high priced products. Concerning
the Euromax pricing policy, Zafir Ademi says, “We base our prices on
general Albanian market prices. For our exclusive products (which
are not present elsewhere on the market) we apply premium prices,
but we apply much lower prices for products already in the market.
We offer special promotional prices every two weeks.”
When Euromax first opened, its prices were around 10% lower
than the market average. Now competitors have lowered their
prices, but Euromax continues to draw more customers through
its more diverse product offerings and its special services.
Business to business services
Ever innovative, Euromax continues to add to its portfolio of
services. The chain has developed a business to business offering
which allows corporate customers, such as hotels and restaurants,
to make large orders and have their purchases delivered. They
can track their orders throughout the process. Both individual
Trade & Industry
19. Albania - 19
and corporate shoppers can also order
items online, and Euromax publishes its
own catalogue to showcase its diverse
portfolio of items.
Euromax also provides a membership
card which brings customers special gifts;
around 87,000 customers now have the
Euromax card. Customers in the Tirana area
cancountonfreebustransportfromTirana’s
city centre to the Universe Trade Centre
mall. Euromax direct-marketing strategy
includes different kinds of brochures and
catalogs that are published with different
time intervals within a month, and are
also advertised in TV and radio, as well as
through SMS messages and e-mails.
The chain’s innovative marketing efforts
during the past months have resulted in
different kinds of promotional activities that
bring together Euromax and the consumer;
not only with an eye for profit but with a
special attention to the community and
social responsibilities. To mark the beginning
of the school season, Euromax organised
the promotional activity “Be the Hero of
Your School”, where through a simple
lottery mechanism one school in Tirana
(the Albanian capital) won a free computer
lab sponsored by Euromax. This is only one
of the many examples that prove to show
this modern approach in marketing; a field
where Euromax is also leading the way for
many others in the Albanian market.
Maintaining competitive edge
While supermarket competitors are
beginning to enter Albania’s retail sector,
Euromax continues to stay ahead of the
rest thanks to its well-developed network
of Euromax supermarkets, the huge range
and diversity of its products, the large
number and diverse classes of customers
it regularly serves, its very competitive
prices, its innovative marketing, and its
special value-added services. Zafir Ademi
says proudly, “The services we offer have
exceeded our customer’s expectations. Our
competitive advantage is being the first
hypermarket in this market, and Euromax is
now in an optimum position to maintain its
success story.”
EUROMAX
Autostrada Tirane I Durres, Km 6 Tirane I ALBANIA
Tel: +355 4 380 000 I Fax: +355 4 380 001 I info@euromax.com.al I www.euromax.com.al
20. 20 - Albania
A
lb-Star, founded in 1995, has grown to become a leader
in Albania’s high potential construction sector. As Idajet
Ismailaj, executive director and co-owner, explains, “Since
1995 when my father launched the
company, Alb-Star has grown every
year to become one of the biggest
and best construction companies in its
field. Our success is a result of the years
of experience, high standard work,
highly qualified and experienced staff,
and strict respect for deadlines.”
Wide range of construction
projects
Alb-Star specialises in construction projects for both the public
and private sectors. Its recent projects include implementation
of water supply systems, sewerage systems, road construc-
tion, building construction, environmental protection projects
(including waste water treatment facilities for urban areas as well
as treatment of industrial wastes and construction of waste pits
for the oil industry, among others). Idajet Ismailaj says, “In the
oil industry the company has considerable experience with the
construction and installation of metallic tanks, pipe works, road
construction and more.” While the company tackles all types of
construction projects, its major focus has been on road building.
Impressive growth rates
Alb-Star has been achieving impressive growth of between
10% and 33% per year since its founding, and now employs
around 350 people. From the beginning, the company has
pursued a policy of reinvesting its profits in upgrades and
expansion. For example, to help maintain its competitive edge,
Alb-Star has acquired a wide range of up-to-date equipment and
machinery and continually invests in upgrading its equipment
and services.
Competitive edge: skilled professionals and
reliability
To ensure a highly skilled workforce, Alb-Star trains its
employees to keep their work up to the highest international
Construction sector leader
open to foreign partnerships
Alb-Star
Trade & Industry
Idajet Ismailaj
executive director
Training of personnel, capacity building
standards. The company has also developed a strong track record
as a firm which lives up to its promises. Citing the company’s
competitive edge, Idajet Ismailaj says, “We are known as a
company which adheres to very high standards. Our skilled
engineers and our well-known reliability set us apart from our
competitors.”
Manufacturing of specialised products
Continually adding to its offerings to provide a truly complete
range of construction related services and products, Alb-Star has
also moved into manufacturing at its headquarters in Fier, Albania.
The company operates a design and manufacturing centre there
which produces a wide range of materials and equipment. “The
manufacturing is always carried out by qualified and experienced
staff and it is always according to well-recognised interna-
tional standards, including API, ASTM, ISO,” Idajet Ismailaj says.
Alb-Star manufactures metallic tanks for the oil industry, metallic
shells, thermo-insulation of metallic tanks (whose size exceeds
2,000m3
), steel pipes and fittings, pressure vessels and more.
21. Albania - 21
Electro-mechanical installations
Alb-Star has developed expertise in electro-mechanical
installations. As Idajet Ismailaj explains, “The company has at
its disposal the experience, the equipment and the qualified
staff to assure the proper and accurate installation of electro-
mechanical equipment in all projects required. Our experience
includes the installation of electro-mechanical equipment in
treatment plants, pumping stations, electric sub-stations, indoor
and outdoor electrical installations, installation of control instru-
mentation and more.”
Design and engineering expertise
Alb-Star also excels at design and engineering. All of its
products are designed in-house to fit clients’ specific needs.
Alb-Star designs metallic tanks, steel pipes and fittings, pressure
vessels, and other projects. Alb-Star also designs and develops a
range of civil engineering projects, including the design, imple-
mentation and maintenance of well leases, roads, pipelines and
more. Companies setting up operations in Albania can call on
Alb-Star for their specialised construction, manufacturing, design
and engineering needs.
High-potential construction sector
Albania offers significant investment attractions in the con-
struction sector. There has recently been an increase in public
expenditure on infrastructure, especially on roads construction,
telecommunication systems, airports, sea ports construction
and reconstruction, and more, all designed to create a better
environment for domestic and foreign investment and to spur
on economic development. Further activity for the construction
sector is anticipated as Albania moves toward EU membership.
The construction industry expanded rapidly in the second
half of the 1990s and has been one of the most vibrant
economic sectors in post-communist Albania. Greek and Italian
contractors have been particularly active in Albania and have
participated in such major projects as the construction of new
highways, the Rinas (Tirana) and Kukes airports, the ports of
Trade & Industry
Construction of metallic structures and installation of steel pipelines at
Petrolifera, Vlora
Durres and Vlore, and the development of hotels and leisure
facilities for tourists.
Expanding regionally with the help of foreign
partners
Foreign firms interested in operating in Albania need to
work with a reliable local partner like Alb-Star. The company
has ambitious growth plans. Looking to the future, Alb-Star
plans to expand into Montenegro, Kosovo, Macedonia and
Romania. It is very open to partnerships with international firms
to help it achieve its growth plans and to develop new training
systems. Idajet Ismailaj says, “We are looking for collaborations
with western companies. Our future is in creating a system for
training people.”
Alb-Star l.t.d.
Zona Industriale Patos
Kthesa e Patosit
Fier,Albania
Tel/Fax:+355 385 40062
info@albstar.com
www.albstar.com
22. 22 - Albania
A
lumil Albania illustrates the
potential of Albania’s industrial
sector. The company is Albania’s
biggest private sector industrial
operation and is a European leader in its
field. As CEO Sotirios Boulios explains,
“We have the largest production
capacity of any private sector industrial
enterprise in Albania, and Alumil is one
of the top European production groups
and systems integrators for aluminium
profile systems and components.”
Alumil Albania achieved turnover
of €12 million last year and expects
to reach €14.9 million in turnover this
year. Its exports to Balkan countries and
to the EU are growing steadily.
Dynamic Alumil group
expanding internationally
Alumil Albania was established in
1998 to produce and trade aluminium
accessories and profiles as well as
diverse metal parts. The company is
part of the Greek aluminium processing
group Alumil Mylonas, which was
established in 1988 and listed on the
Athens stock exchange in 1998. The
Alumil group achieved sales of more
than €280 million last year, with pretax
operating and net profits of €42 million
and €13 million respectively. Alumil
Milonas is Greece’s leader and one of
the top European enterprises engaged in
producing aluminium profile systems.
All Alumil’s products have been
certified by IFT Rosenheim, AAMA New
York and other international bodies, and
are used in a wide range of applications,
including in the automotive, transport,
construction and maritime industries.
The Alumil group also produces state-
of-the-art automatic systems, interiors,
solar protection systems, plastic
products and accessories. The group’s
Aluminium leader demonstrates
Albania’s investment potential
Alumil Albania
Trade & Industry
total production capacity is more than
80,000 tonnes of aluminium profiles
per year.
Market leader in Greece,
Albania and other countries
Alumil is the market leader not only in
Greece and Albania but also in Romania,
Serbia, Montenegro, and Bulgaria. The
group operates 13 industrial facilities,
which are located in northern Greece
(Kilkis, Serres, Xanthi, and Komotini),
Romania, Bulgaria, Serbia (two facilities),
Bosnia and Albania. The group also has
27 subsidiaries, 21 of which are located
in Europe, Africa or the Middle East. In the
Gulf region, for example, Alumil opened
a subsidiary in a free zone in Ras Al
Khaimah in 2006.
The Alumil group employs more than
2,300 people, operates warehouses
on four continents, and has developed
efficient sales networks in 45 countries.
“The Alumil group has been consolidated
to become one of the biggest and most
credible aluminium extrusion enterprises
in the world,” Sotirios Boulios says.
Included three times in Growth Plus
Europe’s list of 500 leading companies
in terms of growth, the Alumil group has
pursued an agressive expansion strategy
in the Balkan markets, Egypt, the Gulf area
and Western Europe, and is continuing to
expand. It has opened a logistics centre in
Frankfurt to serve markets in Europe.
Impressive results for third
quarter 2008
The Alumil group recently announced
impressive results for third quarter 2008
in spite of the global credit crunch which
has negatively affected the construc-
tion industry in many markets. Alumil
increased its sales by 5.6% to reach €220
million compared to €208 million in third
quarter 2007, mainly through its sales
of architectural and industrial profiles in
international markets.
The group’s gross profits grew by
approximately 12.5% over the same
period to reach €55.1 million, compared to
€49 million in the same period last year,
while its net earnings increased by 10%
and earnings per share reached €0.4243.
23. Albania - 23
Sector
Making Albania an aluminium exporter
Alumil Albania benefits from being part of this dynamic group.
Ever since its founding, Alumil Albania has been growing rapidly
and has significantly boosted Albania’s export totals. Sotirios
Boulios says, “Before 2004, Albania had to import aluminium.
Now, thanks to Alumil’s efforts, Albania is exporting aluminium
to Greece, Macedonia, Montenegro and Kosovo.” The company
has grown from a staff of eight to 160 employees, and it has
developed an annual capacity of 6,000 tonnes of aluminium
profiles for architectural and industrial use. “Our capacity
continues to expand,” Sotirios Boulios adds.
Outstanding growth potential
A focus on steady performance and a management committed
to maintaining Alumil’s competitive edge have given the company
the capability of keeping its net revenues consistent even during
the less active months of December through February. “We will
retain our leadership position, and we will continue to work hard
to enlarge our present markets in order to continue to grow and
be the most successful aluminium producer in Albania. Alumil
has a great future in Albania. We are operating at 30% of our
production capacity and achieving 80% of our potential,” Sotirios
Boulios explains.
New €11 million industrial plant
In a major step forward, Alumil opened a new €11 million
industrial facility in 2005 to produce aluminium profiles. The
22,000 sq m unit is located along the road linking Tirana and
Durres. “Alumil Albania’s new facility was built mainly in response
to growing local market needs for high quality integrated
aluminium systems for specific purposes. This major investment
by the Alumil group aims to capitalise on all the many opportuni-
ties in the Albanian market and in other markets throughout the
region,” Sotirios Boulios points out.
The new facility has the capacity to produce not only 6,000
tonnes of aluminium profiles per annum but also 6,000 tonnes
of horizontal powder coating. It was built in a record 17 months.
Alumil Albania, which exports around 20% of its production, also
has warehouses in Saranda, Gjirokaster, Shkoder, Elbasan and Fier.
Exceptional investment opportunity
With its impressive track record and outstanding growth potential,
Alumil represents a very attractive investment opportunity. Sotirios
Boulios says that the company welcomes foreign investors, particu-
larly from the EU. He says, “The government is providing incentives
and privileges for investors, including tax incentives, and starting in
2009 the government will implement measures that will make doing
business in Albania even easier.”
Strategic location between airport and port
Another advantage Alumil enjoys is its strategic location
within easy access of Tirana’s international airport and the port
of Durres. In addition, the company’s high skilled employees
are hard working and willing to develop new skills, Sotirios
Boulios says. He adds, “There are no lazy Albanians!”
Investing in Albania
Giorgios Mylonas, Chairman and CEO of the Alumil group,
explains why he chose to expand into Albania. He says,
“Albania offers not only a good domestic market but also the
best access to Kosovo, where we forecast great construction
activity. Also, the Albanian economy is a protected one, in that
there are import tariffs, which means a producer there has a
very serious cost advantage over imported goods. In any case,
things are improving compared to, say, a couple of years ago
and I am certain it will be even better in the future.”
In spite of some of the negative press Albania has
received, it is a “paradise for investment”, according to
Sotirios Boulios, who serves as a member of the board of
the Greek-Albanian Chamber of Commerce and is a prominent
promoter of the Albanian private sector. He says, “Ongoing
collaboration between Albania’s government and the private
sector will improve the negative image of Albania. Investors
are already becoming more aware of the potential market
and are beginning to realise that Albania is a good place to
do business. For foreign investors, now is the time to explore
opportunities in Albania.”
For more information, visit www.alumil.com
24. 24 - Albania
S
ince 2002 ARSI is providing world-class security services
to corporate and individual clients in all economic sectors,
and has been growing along with the emerging Albanian
market. The company offers private security services for
individuals as well as specialised security support for companies
in mining, construction, import and export, and other sectors.
Since 2005 ARSI has expanded its legal business activities to such
profitable and crucial sectors as construction and mining. ARSI,
headquartered in Tirana, has established a network of branches
in Albania and now has operations in Kosovo (Pristine) and in
Abu Dhabi. It is looking to further expand its present and business
activities in the Balkans and beyond.
Reliable security services
ARSI’s commitment to quality and
its successful track record set it apart
from others in Albania’s security
services market, which is still in the
early stages. “ARSI has extensive
experience in guaranteeing and
securing public and private objects
and in protecting the lives of domestic
and foreign citizens. ARSI is licensed
by Albania’s Ministry of Public Order,”
explains owner and CEO Artur Furriku,
who has almost two decades of experience in the security
industry. He adds, “Our company is continuing to build on its
experience and capacities and can serve as a reliable partner for
any foreign business in Albania and beyond.”
Wide variety of business activities: security,
construction, minerals and management services
ARSI has extended its licensed business activities to the con-
struction and mining sectors, establishing strong partnerships
with local and foreign partners. The company also provides
services management for third parties, aiming to enlarge and
further develop its partnerships in all sectors: security, construc-
tion and minerals.
Today ARSI’s business activities include physical security for
structures, objects and individuals; extracting and exporting
chrome, ore and other minerals; construction, roads and other
industrial and residential projects; and management services
tailored to each individual or corporate potential partner. ARSI
anticipates particularly rapid growth in 2009 in its services
for companies involved in imports and exports, for example
concerning exports of minerals and other products from Albania.
World-class security services
and partnership possibilities
ARSI
Trade & Industry
Artur Furriku
owner and CEO
The company’s client list includes both local and international
companies and individuals. ARSI is known for its high-quality
business practices, well-trained staff, superior management led
by Artur Furriku, and efficient and reliable service which responds
to clients’ demands. For Bechtel, for example, ARSI will provide
security for the company’s vehicles, equipment and materials
during Bechtel’s participation in the major multimillion euro
project to build a new motorway linking Albania and Kosovo.
Continuing growth anticipated in 2009
ARSI has been growing rapidly in all sectors mentioned above
and is expected to expand by an impressive 300% to 400%
in 2009 thanks to new contracts it has recently signed with a
number of major clients, including the international engineering
and construction sector leader Bechtel Corporation.
Noting that ARSI’s turnover has been rising steadily ever since
the company was launched in 2002, Artur Furriku says that in
2008 ARSI achieved the profitability of around 10% to 12%.
He adds, “Although our projections for 2009 are being revised
downwards to cope with potential financial difficulties related to
the global financial crisis, we still expect our profitability to grow
to 15% as a result of our increasing focus on our areas of activity
that offer the least variability and the strongest demand levels.”
25. Albania - 25
Trade & Industry
Productive international partnerships
ARSI’s international partners include Konstruktor Split (Croatia),
Gravmax (South Africa) and many others. One reason ARSI is
valued as a partner is that it distinguishes itself from the ‘informal’
economy. “Our company’s success so far in the Albanian market,
where formal and informal businesses compete daily, is convincing
evidence that formal businesses can survive based on merit rather
than simply the right connections with petty officials, which is char-
acteristic of the informal economy. Our success also demonstrates
the outstanding potential ARSI represents for any of our partners,”
Artur Furriku says.
Seeking more international partnerships
ARSI is currently looking to expand its network of international
partners and investors, and offers outstanding opportunities in
security, construction, mines and management sectors. “ARSI has
the capacity and potential to serve large corporate clients and create
new international alliances. There are other Albanian companies
in each of these sectors, but a few of them have the experience
and expertise to compete with ARSI,” Artur Furriku says confidently.
He adds, “Partnerships with well-known foreign companies will
further boost our image in local and regional markets, increase our
percentage of successful bids for public programs as well as help us
in achieving optimal deals with various partners.”
Expanding locally and regionally
Artur Furriku explains that ARSI would like to partner with
foreign companies in ways that would help boost ARSI’s competitive
edge both locally and regionally. The company is also looking for
mutually beneficial partnerships which would take advantage of
Albania’s enormous potential in developing its natural resources,
for which local and international demand is rising. Another goal for
ARSI in any international partnership is to continue to implement
the latest technologies in order to boost the quality of its products
and services and to cut costs.
ARSI is also looking for partners to help it meet EU standards, to
develop advanced quality management systems, upgrade the quality
of its management, and provide financial support so that ARSI can
take advantage of the remarkable opportunities developing in local
and regional markets. Overall, ARSI aims to enhance its presence in
Albania and beyond with the help of the right international partners.
Competitive edge: transparency, high standards,
in-depth knowledge
For its partners, ARSI offers a well-developed network, strong
brand recognition in Albania and beyond, in-depth local knowledge,
and fast growing business activities. ARSI’s competitive edge is that
it pursues a policy of investing a major share of its profits back into
the company to implement new technologies and to ensure that it
meets the expectations of its international clients.
In addition, ARSI operates transparently, unlike many of its
local competitors. Artur Furriku concludes, “Some operators in the
region ignore considerations like quality-cost ratios. They avoid
fair competition, relying solely on factors such as their political
connections. We set ourselves apart from such competitors, and this
gives us the potential to provide high-quality services to our partners
and exceptional opportunities for our investors and partners.”
Ambitious goals for 2009
As for the future, Artur Furriku says, “ARSI aims to sign more
successful deals in the local, regional and broader European markets.
We are determined to increase the number of our successful part-
nerships, and we are confident that every partnership we undertake
to develop the great potential Albania and the region offer will
be mutually beneficial for ARSI and for our partners. We have set
concrete and ambitious growth goals for 2009.” He adds that he
welcomes contracts from potential partners, and urges investors to
explore Albania’s exceptional development potential.
26. 26 - Albania
P
RIMA sh.p.k has brought high-quality flours and pastas to
the Albanian and regional markets. Adi Fuad Haxhiymeri,
owner and general manager, explains that PRIMA is
an Albanian company with the goal of expanding regionally,
and that he welcomes partnerships with EU investors ready to
explore new opportunities with this dynamic and very successful
Albanian enterprise.
Founded in 1995 as BLOJA to
produce flour for the Albanian market,
the company changed its name
to PRIMA in 2005 to begin pasta
production. Today, PRIMA is Albania’s
only pasta producer as well as the
country’s top producer of flour and
the only Albanian company to process
durum (hard) wheat into semolina,
used as raw material for pasta
production.
Significant investment in latest technologies
Adi Fuad Haxhiymeri has invested €20 million in PRIMA’s
flour and pasta production facilities over the past few years to
implement the latest technologies and equipment and boost
capacity. The company now processes around 400 tonnes of
wheat per day for flour production, 100 tonnes of durum wheat,
Market leading producer of flours and
pastas looking to expand regionally
PRIMA sh.p.k
Trade & Industry
Adi Fuad Haxhiymeri
owner and general manager
and 65 tonnes of pasta. It has also built seven storage tanks (silos)
which together with the storage units near the port of Durres in
Albania can hold up to 37,000 tonnes of wheat. He says, “Prima’s
main activity is the production and packaging of pasta, and we
now have a 50% to 60% share of the Albanian market for cut
pastas. We have been and still are the local market leader in both
flour and pasta production.”
PRIMA produces flours with low extraction levels, including
type 400 - 500 as well as type 700; integrated flours with high
extraction levels of 85% to 95%; and special flours for pastries,
pies, pizza and hamburger buns. The company operates two soft
wheat production lines and one line for durum wheat. All its
wheat is grown in Europe according to EU criteria. Concerning
pasta, PRIMA’s product portfolio now includes 30 types of short-
and long-cut pasta and five types of soup pasta bearing the
‘Prima’ and ‘Delizia’ brand names.
Italian equipment to ensure top quality
In 2000, the company upgraded its production lines by
removing its old lines and installing new lines from MS, an Italian
firm based in Padova. The new production lines can mill up to
100 tonnes of durum wheat per day and in total can process up
to 500 tonnes of wheat per day.
PRIMA’s three state-of-the-art production lines for pasta were
manufactured by Italian firm Pavan, the leader in its field. One of
the lines is for long-cut pasta and has a capacity of 1,300 kg per
hour, while a second line is for short-cut pasta and has a capacity
of 800 kg per hour, and a third line has a capacity of 300 kg per
hour used for special products. “All these lines employ the latest
technologies. We manufacture products of the highest standard,”
Adi Fuad Haxhiymeri says.
27. Albania - 27
In addition, PRIMA has installed a new
automated packaging system produced by
another Italian firm, Paglierani, which can
process a total of 50 tonnes of products
per hour depending on their packing type.
Adi Fuad Haxhiymeri explains, “Thanks
to these innovations, all our processes
of unloading and depositing, storing,
cleaning, and milling wheat as well as
manufacturing wheat-based products,
packaging and transporting products and
byproducts have now been completely
automated and computerised.”
Highest EU and international
standards
PRIMA is one of the biggest enterprises
in its sector in the Balkans, and meets the
highest EU and international standards,
including ISO 9001-2000 and Hazard
Analysis and Critical Control Point (HACCP)
certification by the well-known company
in this field TUV SUD. HACCP is a quality
management system for effectively and
efficiently ensuring farm to table food
safety; it was established by the US
Department of Agriculture and the US Food
and Drug Administration, and is a guarantee
of high quality and safe food products.
In adopting such high standards, PRIMA
is a step ahead of other local companies
in its sector. New regulations will upgrade
the country’s food processing sector
overall, giving PRIMA an added advantage
since it has already adopted these criteria.
Albania will launch the National Food
Authority (NFA) this year to ensure that
all food production in the country meets
EU standards. The new organisation,
established with the support of a €3 million
grant from the European Commission, is
mandated to devise a cohesive means of
enforcing national and EU legislation in the
food sector. The initiative will bring higher
quality food products to the local market
and will support Albania’s bid to achieve
full EU membership.
Seeking international partners
PRIMA, now the clear market leader in
its sector in Albania, has positioned itself
to expand its activities throughout the
Balkans. To achieve this goal, the company
is seeking partnerships with investors
in the EU. PRIMA offers outstanding
investment opportunities. Its strong
track record and the major investments
it has made in new technologies have
established a solid foundation for further
growth, and the growing demand for
high quality flours and pastas throughout
the region provide exceptional market
potential for this type of enterprise.
Ambitious project in Kosovo
Adi Fuad Haxhiymeri foresees strong
economic growth for the region overall. In
2006, along with other successful entre-
preneurs, he launched ENK Invest Group
j.s.c., a real estate development project in
Prishtina, Kosovo, which is currently expe-
riencing high and growing demand for
office and residential properties as well as
for hotels, parking facilities and shopping
malls. ENK Invest is developing a mixed
use project in the Lakrishte district in the
centre of Prishtina.
“The idea behind this project is to build
a commercial and residential complex that
meets international standards and will
become a landmark for Kosovo,” Adi Fuad
Haxhiymeri explains. The development,
on a 26,000 sq m plot of building land,
has been designated in a study by
Prishtina Municipality as the city’s future
top business and residential district. The
project includes a 42-storey office tower,
a shopping mall, a high-end residential
condominium, an administrative centre, a
five-star hotel, and six underground levels
for parking and other uses. The total built
up area will cover 300,000 sq m.
Adi Fuad Haxhiymeri points out that
Albania’s economy has been expanding
rapidly and that the recent influx of
foreign direct investment has significantly
strengthened the local business sector.
Urging investors in the EU to explore oppor-
tunities in Albania, he concludes, “Albania
still has a lot of room for investments and
will offer attractive returns.”
Rruga Kavajes, Tirane, Albania
Tel.: +355 42 224 846
Fax: +355 42 240 157
Email: info@prima.al
www.prima.al
28. 28 - Albania
A
lpet, the representative in the Balkans for Turkey-based
Altinbas Energy Group, is bringing world-class quality
standards to the regional energy sector. Alpet’s core
activity is to provide high quality products and services through
its network of Alpet petrol stations throughout Albania, Turkey
and Northern Cyprus, Turkish Republic. Entering the Albanian
market in 2005, Alpet has quickly
become one of the country’s best
known foreign brands. Alpet achieved
€50 million in turnover in Albania in
2007 to become the country’s seventh
largest enterprise.
Alpet was named “best company
of the year” in Albania in 2007 and its
general manager, Ibrahim Aktoz, was
named “best businessman”. Alpet is
also the only company in Albania to
have achieved ISO 9001-2000 quality
management certification.
Bringing highest standards to local market
Alpet now operates more than 600 petrol stations in Turkey
alone and is rapidly expanding throughout the Balkans, including
in Albania. Explaining the Altinbas group’s decision to boost its
activities in Albania, Ibrahim Aktoz says, “Before Altinbas entered
the Albanian market, Albania had over 1,000 petrol stations but
they failed to offer quality products and did not operate according
to proper safety standards. Altinbas saw an opportunity to enter
the market with a new, modern business approach and to
provide quality products and services. Today, Alpet has achieved
its short-term objectives and has established the foundations for
long-term growth.”
Defining Alpet’s competitive edge, Ibrahim Aktoz singles out
the company’s commitment to providing EU safety standards in
all its petrol stations, the strong brand recognition of the Alpet
name and its association with high quality, and the continuing
focus on quality and customer service in all Alpet petrol stations.
He adds, “This means that when you go to an Alpet station
anywhere, you will find the same high quality.”
Focus on health, safety and environment
All Alpet petrol stations are built to the highest local and inter-
national standards and are inspected and certified by independent
supervision companies periodically. Hazardous wastes such
as tank bottom sludge, contaminated wastes, waste oils and
Setting the standard for
high-quality petrol stations
Alpet
Energy
Ibrahim Aktoz
general manager
others are shipped to certified disposal and recycling facilities by
licensed vehicles and are treated according to EU “Procedure for
Hazardous Wastes” criteria. Wastewater at all Alpet petrol stations
is also treated through biological and chemical treatment systems.
Concerning health and safety standards, all staff members are
trained in fire control, first aid, and the use of personal protection
as well as in maintaining high safety standards in all operations.
Innovative technologies and long-term
investment
From the beginning Alpet has focused on the latest facilities,
technologies and services, including automated payment systems
and satellite-controlled supply and demand systems. “Those
standards were new for the market in Albania and proved to be
successful. This success was re-enforced by a huge investment for
2005 to 2008,” Ibrahim Aktoz explains. He adds, “Alpet maintains
“Altinbas saw an opportunity to
enter the market with a new, modern
business approach and to provide quality
products and services. Today, Alpet has
achieved its short-term objectives and
has established the foundations for
long-term growth.”
29. Albania - 29
Energy
its lead in Albania by focusing first on our customers and the
services we provide in order to keep our customers satisfied.”
Alpet has grown rapidly in Albania. The company opened 20
petrol stations in Albania in its first year of operations in 2005
and boosted its network to 50 petrol stations the following year.
By 2007, Alpet was operating 70 petrol stations throughout
Albania and today it operates over 100, with continued
expansion planned. It operates petrol stations in 24 of Albania’s
28 provinces.
In addition to its extensive network of petrol stations, Alpet is
known for the high quality of its fuel and related products. “Alpet
has set the bar for petrol stations in Albania and is one of the
country’s best known brands,” Ibrahim Aktoz says.
Benefiting the local economy
Alpet has had a significant positive impact on the local
economy. It employs more than 500 Albanians and is a supplier
of top high prestigious international and local brands in the
country. Alpet is also known for its corporate citizenship. It has
established a programme to provide support for more than 8,000
orphans, among other charitable endeavours.
Tomaintainitscompetitiveedge,Alpetcontinuestoemphasize
quality and service and provides extensive staff training to ensure
the highest standards of customer service as well as sensitivity to
EU environmental and safety criteria.
Albania ideal gateway to the Balkans
As for the future, Alpet aims to continue to grow rapidly in
Albania and throughout the region. “Alpet sees Albania as the
centre of the Balkans, and Albania will remain Alpet’s base for its
expansion into the neighbouring markets of Montenegro, Kosovo
and possibly Macedonia. We are focusing on the Kosovo market for
2009. Alpet is very ambitious and has already made investments
to develop into all these locations,” Ibrahim Aktoz points out.
Explaining why the Albinbas group chose to enter the Albanian
market, Ibrahim Aktoz notes that diplomatic relations between
Turkey and Albania have existed for 500 years, and Albania also
offers a strategic location as a gateway to the Balkans via the
Adriatic Sea. Albania’s coastline on the Adriatic stretches for 450
km, the longest of any Balkan country.
Albania is an excellent base for business, Ibrahim Aktoz
believes. He explains, “Alpet understands the importance of
changing the world’s negative perception of Albania. Alpet is an
example of a successful foreign company operating here, and our
experience will encourage other foreign investment to enter the
Albanian market. Potential investors should know that Albania
offers many opportunities in all sectors, as well as a very highly
educated workforce that is a big plus to consider. Moreover,
the business climate has improved with the aid of government
incentives. Albania is an ideal gateway to the Balkans.”
www.alpet.al
30. 30 - Albania
E
agle Mobile, Albania’s newest entry into the fast growing
mobile telecom market, has carved out a niche for its high
quality services at very competitive prices. Eagle Mobile’s
cutting edge GSM 900/1800 network covered 95% of the country
as of May 2008, only two months after the company entered
the market, and Eagle had gained a 12% market share only ten
months after its launch.
At the end of 2008, Eagle Mobile
was serving 260,000 subscribers
and was signing on around 3,000
new subscribers per day. It is
ranked the most widespread mobile
operator in the country, and aims
to gain a 20% market share by the
end of 2009. It was named “The
Best Company in Albania” by a
national magazine last year, and in
January this year, Eagle Mobile won
a tender to provide services to eight
government ministries, which will bring the company around
60,000 new customers.
Cutting-edge technologies
Eagle’s innovative strategy has been to focus first on
technology, and only then on marketing. Because of this, Eagle’s
subscribers can count on state-of-the-art EDGE technology for
rapid Internet connections, and they also have access to 10
local and foreign television stations and other services via their
cell phones. Eagle will soon implement third generation (3G)
services and is already planning to implement 4G services. Being
Albania’s newest mobile operator is an advantage for Eagle since
it has been able to provide the latest technologies from the very
beginning of its operations.
Revolution in local telecom market
“Eagle Mobile has achieved a revolution in Albania’s telecom
market,” says CEO Ali Taskin. He explains, “Before Eagle, the
market was totally black and white. In only 10 months, we
managed to accomplish what it had taken our competitors two
or three years to do. We brought colour to the Albanian mobile
telecom market, as you can see in our logo!” Eagle has earned
its competitive edge through its winning quality-price ratio and
through successful word of mouth advertising from satisfied
customers.
Newest mobile operator
offering world-class service
Eagle Mobile
Communication
Ali Taskin
CEO
Eagle is owned by a Turkish consortium made up of the Calik
Group and Turk Telecom, which privatised Albtelecom and Eagle
Mobile for e120. Ali Taskin explains why the Calik Group chose
to invest in a new mobile telecom company in Albania. He says,
“Eagle Mobile is Calik’s first project in the telecom sector. Its other
projects are in the textiles, energy, banking and construction
sectors. When the group decided to establish a presence in the
Balkans, it chose to begin in Albania, in the telecom sector, and
this has proved to be a very successful move.”
Opportunities for foreign investors
Eagle Mobile’s success in Albania illustrates the country’s
potential for foreign investors. As Ali Taskin points out, “Albania
offers great opportunities for investment. If investors come here,
they will see that the reality of the country is much better than
its image. Albania is now safe and stable for foreign investors.”
Eagle Mobile sees itself as a symbol of opportunities in
Albania and as a leader in bringing world-class standards to the
local telecom sector. “We intend to demonstrate a new mentality
concerning doing business in this country. We have established a
very good working relationship with the government, with the
telecom regulatory body, and with international funding institu-
tions like the European Bank for Reconstruction and Development
(EBRD),” Ali Taskin points out.
Living up to its promises
In fact, Calik Group’s e100 million loan from the EBRD to
modernise Albtelecom’s infrastructure and launch Eagle Mobile is
the largest loan provided to a private company in Albania to date.
“We promised to bring in a positive change, and the government
trusted us to live up to our promises,” Ali Taskin says proudly.
31. Albania - 31
Communication
Eagle Mobile has made a long-term
commitment to Albania and supports a
number of community service projects there.
“We did not wait to be an old, well-estab-
lished company to take on our corporate
social responsibilities,” Ali Taskin says.
“Business Supporting Orphans”
project
Eagle Mobile’s projects in Albania
include support for orphanages through
the major “Business Supporting Orphans”
initiative; Eagle Mobile and its partners
are working now to provide support for
more than 31,000 orphans in Albania.
As Ali Taskin explains, “Coming together
with other local companies, institutions,
universities and colleges, we can give
these children better lives.”
Serving foreign companies,
tourist visitors
Eagle has established productive inter-
national partnerships. It is working with
Huawei Technologies, which it chose to
implement its GSM infrastructure, and
with Amdocs Solutions, whose Amdocs
Compact Convergence Suite provides
Eagle with complete service creation and
real time convergent billing capabilities.
Eagle is the first company in Albania to
implement such a system.
Eagle Mobile welcomes more partner-
ships, and is ready to provide world-class
service to foreign investors and companies
establishing a presence in Albania. Eagle is
already serving many of the international
visitors who come to Albania for business or
pleasure. Ali Taskin says, “We invite tourist
visitors to use Eagle Mobile here in Albania,
the land of eagles. Our customers can count
on very good rates, coverage throughout
the country, excellent voice quality, and of
course mobile television for watching the
news from all over the world.”
“Albania has left the past
behind”
Ali Taskin urges investors in the EU
to look into opportunities in Albania.
He says, “This country has changed. It
has very good resources and it also has
very qualified people now. For example,
all young people in Albania can speak
more than two foreign languages. More
importantly, the Albanian mentality has
changed and the country is now very
business friendly. Many foreign investors
are already here in Tirana looking for
opportunities, but Albania remains
essentially a virgin market which offers
exceptional potential.”
Another advantage of setting up a
business in Albania is that while it is a
small market, it provides easy access
to the fast growing nearby markets of
Kosovo, Macedonia and Montenegro. As
Ali Taskin points out, “Albania, and in fact
the entire region, has left the past behind
and is moving toward EU integration.
The Albanian people, Albanian institu-
tions and Albanian companies respect
investors who make a commitment to
this economy. They will give you more
than you expect, and make your business
much more successful.”
For more info: www.eaglemobile.al
32. 32 - Albania
A
s Alban Bala, CEO of Comport,
explains, “Some companies
enter a market and determine
what the market wants; Comport opted
to be more innovative: the company
saw what the Albanian market needed
— world-class public relations services —
and began to provide it, often educating
locals about Comport’s offerings along
the way.”
Today,Comport
— Albania’s
first public
relations firm
— serves many
of the leading
companiesand
organisations
in Albania
and offers a
full line of
High-quality public relations services
Comport
Alban Bala
CEO
integrated professional public relations
solutions.
Comport specialises in grassroots com-
munications and direct marketing; per-
sonalised services for global enterprises
operating in Albania; strategies for
sustainable development; and services
for public sector entities.
Backed by a staff of 400 skilled profes-
sionals and the Sociology Faculty of Tirana,
Comport can carry out any mission. The
company advises international firms with
projects worth up to e4.2 billion (US$6
billion) in a wide range of sectors, including
energy, mining, healthcare, pharmaceu-
ticals, banking and finance, tourism, real
estate and more. Comport has also opened
a branch office in Kosovo to extend its
offerings to a broader clientele.
Communication
Comport’s think tank, the Albanian
Institute of Public Relations (AIPR),
develops innovative solutions for the
firm’s clients. Several projects and
strategies developed by AIPR for regional
development, institutional upgrades and
sector issues have been endorsed by
state institutions and donor organisations.
Comport is also a leading private sector
provider of public affairs services, helping
state institutions meet their objectives
and improve their performance.
Specific products include design,
public relations and media communica-
tions, promotional projects, communica-
tions products, web and software design,
training programmes, research, and
strategy building. For world-class public
relations services in Albania, Comport is
the right choice.
