Porto Palermo Castle, Himarë Photography: Albes Fusha OVER 1 MILLION MANIFESTS VERIFIED With an innovative customer focused approach and “build- own-operate” solution, S2 Global helps customers worldwide access state-of-the- art technology that improves security, streamlines trade and An OSI Systems Company increases revenue. www.screeningsolution.com OVER 1 MILLION MANIFESTS VERIFIED With an innovative customer focused approach and “build- own-operate” solution, S2 Global helps customers worldwide access state-of-the- art technology that improves security, streamlines trade and An OSI Systems Company increases revenue. www.screeningsolution.com The leading tobacco company, Philip Morris International, is transforming. In changing times you can always choose to do nothing. Instead, we’ve set a new course for the company. Since 2008, we've invested over USD 6 billion in research and development and we employ more than 400 world-class scientists, engineers, and technicians. We’re building the company’s future on smoke-free products that are a much better choice than cigarette smoking. Philip Morris Albania is an affiliate of Philip Morris International. Over the past 12 years, it has been leading the legal market of tobacco products, being considered the largest tobacco company in Albania. 77.000 400+ 180+ 150 6 46 Employees R&D scientists, Markets where Million of the world’s Production around the engineers and our products consumers top international facilities World technicians are sold worldwide 15 brands, worldwide working on including smoke-free Marlboro products Content Letter from Charge d’Affaires to Albania 11 Letter from Minister of Finance and Economy 12 Letter from President of AmCham 15 Code of Ethics 20 Year 2018 in Review 22 Calendar of Evevnts 24 Highlights 36 Advocating at AmCham 38 AmCham Committees 41 AmCham Publications 46 Financial Report 48 Information and Addresses 52 Government of the Republic of Albania American Chambers of Commerce in Europe Albanian Representative Offices in Usa The United States Government in Albania Membership Directory 66 YEARBOOK 2019 7 Uji i Ftohtë, Vlora Photography: Albes Fusha Gjirokastra Photography: Albes Fusha CHARGE D’AFFAIRES TO ALBANIA tax and customs administration. Moving forward on these fronts with measurable progress will inspire more U.S. more progress on companies to implementing rule-of- invest in Albania. Dear American Chamber of law reforms is needed. American companies Promoting the rule of are top-notch corporate Commerce Members, law, fighting organized citizens that bring the best While Albania’ s crime and corruption, and improving the practices in innovation, economic performance transparency, and has improved over judicial system remain top priorities for the corporate responsibility. the past several I look forward to years, the investment United States. A judicial system tough on continuing the I am pleased to climate remains corruption will provide Embassy’s close introduce AmCham problematic. According confidence to foreign cooperation with Albania’ s 2019 to Transparency AmCham to advance Yearbook. International‘s 2019 investors that their commercial interests U.S. commercial Corruption Perceptions interests in Albania. The United States Index, released on will be protected. An Embassy is committed January 29, Albania independent judicial to increasing U.S.- was perceived as the system with integrity will Albania bilateral trade most corrupt country help protect intellectual and investment, and in the Western Balkans property rights, defend AmCham represents a in 2018. While good real property rights, Sincerely, key institution to foster work on this front has ensure contract Leyla Moses-Ones these developments. been accomplished, sanctity, and improve Charge d’Affaires a.i. YEARBOOK 2019 11 LETTER FROM MINISTER OF FINANCE AND ECONOMY and increase transparency by making information accessible and user-friendly through online platforms. We are committed to a transparent and equal treatment welcoming foreign investors for all economic operators, be and creating a well-structured them national or international market economy, able to absorb actors in Albania, and we are external competitive pressures happy to assist in resolving any and market forces. The reform issue businesses and investors program will continue its focus on face during their activities in the macroeconomic and fiscal stability country. has followed the same positive and public financial management I am committed to a strong trajectory of improvement, taking aiming to a further decreased partnership with the business Dear Readers, Albanian unemployment rate to public debt to 65.5% of the GDP associations and chambers 12.6%, the lowest in the region. by 2019. of commerce, as they are of It is a pleasure to share with Foreign exchange reserves had The Ministry of Finance and support in creating and properly you few words through this quite an increase to 17.4%, with Economy is engaged to avoid using the right platform for a annual tradition of the American 3.35 billion EUR, equal to almost ad-hoc approaches in terms of constructive public – private Chamber of Commerce! 7 months of imports in goods and fiscal policies and is furthermore dialogue. The American Chamber services. Exports increased with engaged to a mid-term strategy of Commerce has been a very Albania during 2018 has 13.7% in 2018 and the financial which can ensure well-calculated good example of a precious accelerated the pace to a system remains well-capitalized and visionary measures for the partner to the Government in 2018 sustainable economic growth and very liquid, with non- private sector. The government’s with its proactive engagement in as an internal demand and in performing loans decreased to effort to fight informality will nourishing and building bridges of accordance with the European 12.7%, while the base interest rate continue to give formal and communication. In 2019, we will integration goals, building upon its was at the lowest historical levels. legitimate businesses the welcome any new idea, initiative economic and human potentials. All the above has not come on its possibility to operate in a fair and proposal to an improved A strong economic landscape own! The Albanian Government market and reduce tax losses, by regulatory framework, enlarged primarily means a market made of has engaged as of 2013 in a set eliminating free riders and rebound investment prospects and strong and competitive businesses of substantial reforms affecting business confidence. In this strengthened economic model, with a government focused on a the life of every business, leading regard, our efforts will focus on a giving the right impetus for an long-term financial stability and a us to the current state of play and systemic approach through risk equitable growth. strong business climate. to the upcoming optimistic future monitoring systems, audit systems The Government of Albania invites The GDP growth for 2018 rose to we seek. The business regulatory implementation, and redefined you to be part of this continued 4.2 %, one of the highest growths reforms, improved governance risk profiles as key factors to reform momentum, and may we in South East Europe. Foreign and improved public service ensure the presence of only formal create together future success Direct Investments remained at delivery made Albania jump 45 economic operators in the market. stories throughout this path the level of 8% of the GDP, fully positions in the last 5 years in the The Ministry of Finance towards the future! covering the current account Doing Business Ranking, taking and Economy will further deficit. Inflation remained at 1.8% the country at the 63rd position. improve fiscal procedures, Sincerely Yours, and the public debt declined from Moreover, the vision of the monitor the methodology and 71.6% of GDP in 2017 to 69.5% Albanian Government clearly implementation of arrears in 2018, while the fiscal deficit involves supporting the private repayment, simplify legislation remained at 2%. The labor market sector through policymaking, of revenue-generating agencies Anila Denaj 12 AmCham Albania Berat Photography: Albes Fusha Kruja Museum Photography: Albes Fusha PRESIDENT OF AMCHAM Dear Members It is with great pleasure that some solid steps to reduce the American Chamber of tax barriers and regulation Commerce celebrates its in the economy and that is achievements and results positively reflected in the for the 2018 calendar year. Chamber’s annual business I would like to specifically index. These issues remain thank to the Board of foundational concerns to Directors, each listed in this members and will always Yearbook, and the members require attention as Albania desire to amplify the American- only representing Albanian- who have participated seeks to be competitive in the owned members and key American business interests in in our Sub-Committees region, though the Chamber Albanian-owned businesses Albania, but also advocating for their work to make is pleased to see some that either employ Americans, in the USA and among the Albanian-American business relative progress in 2018. The work with American products Albanian-American diaspora. I relations stronger. I would Chamber has also continued and clients, or are actively remain confident in the Board like to specifically thank to take a strong public stand in seeking to do so, within the and the staff going forward, and the Chairpersons of the favor of the freedom of choice Chamber. The Chamber also I am hopeful of the long-term AmCham subcommittees, for businesses in terms of with moved to a calendar year fee consistent and positive impact Ms. Alketa Uruci (Tax whom they associate within schedule from a September that the Chamber will continue and Customer), Mr. Kledi the context of non-mandatory to September billing cycle. to make for the betterment Kodra (Regulatory, Legal Chamber membership. This change impacts the of the business climate. and IPR), Mr. Roden Pajaj Ultimately, it is the business presentation of the Chamber’s Together we are raising difficult, (Labor and Ethics) and Mr.