TIRANA, Feb. 12 (Xinhua) -- Foreign direct investments (FDIs) in Albania are estimated to have surpassed 1 billion U.S. dollars in 2017, with inflow expected to be higher in 2018, Albanian Telegraphic Agency (ATA) said Monday in an analysis citing official statistics.
The government's pro-business climate reforms and its position as an important gateway for south-eastern European and Balkan countries have helped Albania attract around 13 percent of the foreign investments volume in the region, ATA said in its analysis.
Albania is adopting regulatory framework specially designed to attract foreign investments or awaken the domestic capital. New legislation categorizes strategic investments and further strengthens legal guarantees for the investors.
Sectors such as energy, mining, transport and infrastructure show great potential, according to the analysis.
ATA noted the Albanian government has approved a package of tax incentives on strategic investments, mainly tourism, which has been one of the country's fastest growing in the past few years.
Official data show that tourism industry generated about 1.5 billion euros (1.8 billion U.S. dollars), about 8.4 percent of the country's GDP, in 2017 alone.
