Business: Open stock market

Now that the loan crisis is on its peak and is putting many businessmen in difficulties, the business association asked the Albanian government to open the capital market and put the Tirana stock market at work.

“The increasing need of the Albanian business to find new ways of getting funded by expensive banking loans, has naturally brought the first raw material for activating the market of capitals. On the other hand, the market of capitals is necessary for the security of public and private financing themselves. Listing an initial stock on the market of the best publica nd private companies that exist today, would serve to increase the trust of private companies in general. It would be the best marketing way for potential investors within and outside the country”, declared Gjergj Buxhuku, administrator of Konfindustria.

The construction of the capital market not only would break the financial monopoly of banks, but it would give citizens the chance to invest all their savings in shares of large public or private projects.

“If more Albanian companies or individuals would have the chance to become part of the large strategic projects, they should consider them as their own property, and energy as their own property, not like an utility that the state has the obligation to give. This goes for other strategic projects too. Let’s create this opportunity. We are interested in serious investors, and we are also interested in a wide participation of the public for large projects, since the Albanian people needs to feel the natural assets as their benefit”, declared Damian Gjiknuri, Minister of Industry and Energy.

The Istanbul Stock Market Director, Ibrahim Turhan, declared that the establishment of the Tirana Stock Market and its integration in the regional market of capitals would incite Albania’s economy.

“Tirana’s Stock Market and the listed companies could attract foreign investors through the integration, and this would address the liquidation problem. This would encourage many companies to be listed and the stock markets would become instruments for dividing the capital among the society, which is the main reason why they exist. Eventually, this would accelerate the economic growth for the entire region”, Turhan declared.

The project for establishing the Tirana Stock Market is a long history of failure, which started years ago. The Deputy Prime Minister says that this will change.

“The Tirana Stock Market can be activated only with a close cooperation of the Albanian government and the regional businesses, and through a partnership with important institutions of the capital market in our region. The Albanian government greets every initiative in this project and is ready to build a process with the participation of the business companies, and turn the Tirana Stock Market into reality”, Niko Peleshi declared.

The stalemate in which the Albanian financial market has plunged into, with banks having the monopoly and refuse loans, is considered as one of the reasons of the strong economic slowdown.

TOP  Channel, 24.09.2013