Turkey and Italy emerge as leading foreign investors in Albania for first quarter of 2024
According to data from the Bank of Albania, Turkish investments surged to 69 million euros, marking a remarkable 116% increase compared to the same period last year. Meanwhile, Italy, another longstanding investor in Albania, secured the second position with new investments totaling 41 million euros.
Why is this relevant
The figure underscores Albania’s dynamic investment landscape, but also Turkey’s and Italy’s expanding economic footprint in Albania. Both countries play pivotal roles in contributing to economic growth and sectorial development. Their increasing investments underscore Albania’s attractiveness as a destination for foreign capital, crucial for advancing its economic integration and stability within the European context.
Context
By the end of the first quarter, the total stock of Turkish investments reached 1.06 billion euros, reflecting a robust 27% year-on-year rise. Turkish enterprises continue to wield significant influence across key sectors such as finance, energy, and manufacturing.
Italian investments continue to maintain a substantial presence in Albania, despite a slight decline of 4.7% from the previous year’s first quarter, with the stock reaching 1.53 billion euros—a 26% increase year-on-year. Italian investments are notably diversified, focusing prominently on service-oriented activities.
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