Pandemic forced 408 foreign businesses in Albania to close

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The pandemic has forced businesses with foreign owners or co-owners to close their activity. Recent data from the INSSTAT show that these businesses dropped to 6035, from 6443 in 2019.

According to financial expert, Artan Xhiani, who has constant relations with foreign businesses, the reasons are mainly due to the limited movement that accompanied the pandemic.

Most of the foreign owners whose businesses were affected were from Italy. According to Xhiani, member f the Chamber of Commerce “Confindustria Albania”, says that this is only a momental closure.

The closed sectors are mostly foreign businesses related to commerce, manufacturing industry and services. Other sectors, such as construction and IT have benefited from the recent developments, increasing their presence in our country.