80% of FDI were provided by TAP and Bankers
TAP pipeline and Bankers Petroleum provided about 80% of the total amount of foreign direct investment in Albania for the fourth quarter of last year.
Based on data issued by the Bank of Albania, the majority of foreign investments in Albania rely heavily on the energy sector and in the mining industry.
From 276 million euros of foreign investment in the fourth quarter of 2016, 167 million, or about 60% of the total, belonged to the energy sector, where the construction work for TAP pipeline is now at full pace.
Another 56 million euros came from the extractive industry, a sector dominated by the oil industry, and mainly from Bankers Petroleum.
In other economic sectors, the amounts of investment are at modest levels.
The financial sector is ranked third, with 21 million euros. Even in the case of the financial sector, there are no new investors, but the extra capital injections come from existing companies, mainly in the banking system.
For the past year, the government proudly announced an inflow of 1 billion euro in foreign investment, although the exact figure issued by the Bank of Albania was somewhat below, at 959 million euro.
However, the fact is that investments remain concentrated in a few sectors and in some transitional projects, however large, such as TAP pipeline.
The concentration in a few sectors and enterprises makes the prospect of maintaining high levels of foreign investment in the long term highly fragile.
Scan Tv, 04.04.2017