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Hungarian companies eye Albanian options

Hungarian companies see promising business opportunities in Albania, with bilateral relations also set to capitalize from an appropriate business environment, investment and trade promotion agency ITD Hungary reported.

Foreign investors are allowed to buy land in Albania for EUR 1/square meter in return for significant capital investments, the agency said. Prime Minister Sali Berisha paid a visit to Budapest on Tuesday, speaking to 20 companies with established Albanian relations. Albania also plans to privatize its energy distribution network, oil refineries and will even sell shares of state-owned companies, which may be appealing investment targets for Hungarian companies, ITDH said. Total Albanian exports came to $962 million last year, of which 81% went to Italy, Serbia and Greece. Hungarian exports to Albania in 2006 amounted to $49 million, mainly energy raw materials and machinery. (Gazdasági Rádió)