Minister of Economy and Innovation Delina Ibrahimaj chaired a meeting of the Investment Council, bringing together business representatives and international partners to discuss ways to improve the investment climate, align businesses with European Union standards and simplify administrative procedures.

The meeting presented an analysis by the Investment Council Secretariat, along with recommendations to address the challenges businesses face during the EU integration process.

Ibrahimaj stressed that aligning legislation with EU standards requires more than adopting new laws. Businesses must also prepare to meet new requirements governing production, services and competitiveness in the European market.

To support this process, the Ministry of Economy and Innovation, in cooperation with international partners, has launched work on a programme to help Albanian businesses meet European standards and prepare for access to the EU Single Market.

The programme will roll out in several phases. Initially, it will inform businesses about horizontal standards, which apply across all sectors, and vertical standards, which target specific industries.

Another key step will involve assessing businesses’ level of preparedness by collecting information directly from companies. This will help identify their specific needs and develop targeted support measures, particularly for investments in technology, equipment, facilities and the certifications required to meet European standards.

Ibrahimaj said that support for business certification and modernisation is already included in the Double Your Business programme. Meanwhile, the ministry is considering additional financial instruments, including dedicated grant schemes.

The meeting also focused on simplifying administrative procedures and identifying barriers that hinder business operations.

In this regard, Ibrahimaj announced that sector-specific consultation meetings will resume in December. These discussions will review procedures for obtaining permits, licences, authorisations and other public services, while identifying the costs and obstacles businesses encounter.

She called on business representatives and associations to take an active part in the consultations, stressing that their input is essential to identifying problems and developing practical solutions.

Participants also discussed strengthening classification, monitoring and inspection systems, improving standards in the tourism sector and ensuring that all businesses face equal enforcement of legal requirements.

Furthermore, Ibrahimaj highlighted the new draft law on investments in the Republic of Albania, which is currently undergoing public consultation.

The proposed legislation aims to establish a legal framework aligned with EU standards, taking into account recommendations from international partners and proposals submitted over the years by the business community and other stakeholders.

The new framework provides for investment protection mechanisms, the screening of foreign direct investment and support measures for investors.

Ibrahimaj stressed that consultations will continue to incorporate feedback from businesses and international partners. At the same time, the ministry will prepare and discuss the relevant implementing legislation alongside the draft law to ensure a comprehensive and fully operational framework.