TIRANA, Feb 12 /ATA/-By A.Gjonaj/- The Britain’s withdrawal from the European Union could be a positive development for Albania, as investors may turn their attention on our market.
Neil Budd, a renewable energy expert from the United Kingdom and representative of the interests of the British investors in Albania, is visiting our country over the past few days.
Asked by the Albanian Telegraphic Agency (ATA), how British investors see the Albanian market, Budd said Albania is increasingly viewed as an alternative market for the British investors who are currently a bit confused and unclear about Britain’s future with Europe. While the government, he says, has drafted a fairly good legal framework on the renewable energy sector.
“We should first figure out how Brexit will work out. There is a lot of discussion within the government and the country whether Britain will stay in the European market. It is an interesting moment since the British government hasn’t made it clear to businesses whether they will stay in the EU market or whether the government will sign individual agreements with each of the member states,” Budd said.
But given the nature of the business, Budd points out, “people are looking for new opportunities since business cannot stand still. With the BREXIT underway, many companies started looking for alternative markets and Albania is one of those alternative markets.
To the British expert, Albania is an emerging country and interesting thing for businesses in particular sectors is to look at opportunities in markets of emerging countries that offer attractive propositions.
Budd says renewable energy sector offers ample investment opportunities
“Let’s take as an example the solar energy. In the United Kingdom, over the last seven or eight years, solar power has developed from zero to 10 Gigawatts from solar panels. But now, investment in this field has dropped significantly because the government has ended subsidies for such projects,” Budd said.
According to him, this is a reason why investors in solar energy are looking at other markets.
“Albania offers an interesting proposal for solar energy, because of its climate, whereas the government is introducing legislation on investments in renewable energy.
The British expert thinks the renewable energy investments will be helped by government policies and the legal framework on this area.
“The government has introduced law on investments in renewable energy sector. I ask people in the UK why they aren’t looking Albania for solar power. And they look at me puzzled and ask: Why should we do that? And I reply, just think as if you are going to Italy, but just turn right. And they understand because Italy is a good market for solar energy, so Albania could be a good market as well”, he added.
According to Budd, another sector that offers tremendous investment opportunities in Albania is tourism.
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