Albania Special: Albania open for business
China Daily | Updated: 2012-01-09 08:00
Widespread investment is transforming the resource-rich Balkan country into an energy hub
Having achieved strong economic growth in recent years on the back of a services and construction boom, Albania celebrates its 100th anniversary as an independent country with immense motivation to fulfill its extraordinary potential.
With foreign direct investment (FDI) having tripled between 2006 and 2010, the government, led by Prime Minister Sali Berisha, has worked hard to procure a competitive investment environment, dropping corporation tax from 25 percent to 10 percent and personal income tax from 23 percent to 10 percent. Social security contributions have fallen from 32 percent to 15 percent for entrepreneurs.
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