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Q1 foreign direct investments in Albania rise by 53 percent

Staff writer |
Albania witnesses a strong inflow of foreign direct investments (FDI) in the first quarter of 2015, which amounts to more 258 million euros ($289 million), or a 53 percent increase when compared to same period in 2014.

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According to the Bank of Albania, around 60 percent of the bulk of foreign investments in the first quarter of 2015 was concentrated in hydrocarbons sector, banking and telecommunication, according to Albanian central bank.

The largest foreign investor in Albania's oil sector "Bankers Petroleum" accounts for the largest share of direct investments in the country. In the first quarter of the year, the company invested 50 million euros ($56 million) in drilling 21 wells, according to Albanian telegraphic agency.

Bank data shows that FDI in hydrocarbons sector rose to 40 million euros ($44.8 million), while in banking sector rose to 16 million euros ($18 million).

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