, aware of the risks exposed during this period characterized by numerous unstable developments in global and regional economy. therefore, our supervision has placed great emphasis on identifying the various risks to banking activity, improving the banking sector ’ s ability to manage these risks and strengthening the legal and operational framework to address them in case of their materialization. in the wake of the global economic crisis, many countries are redesigning their economic development agendas and models. throughout many years, the bank of albania has initiated, encouraged and supported this discussion by engaging in an open communication with the public authorities, business community and academic circles. our opinion is that economic development policies should contribute to setting a better balance between the development priorities of the sectors of the economy, by supporting agriculture and production. one of our immediate objectives is enhancing the economic capacities that improve the competitiveness of our products and benefit more from foreign demand. to this purpose, the development and further perfection of financial infrastructure, as well as the qualitative improvement of technology, are, among others, a priority. we must ensure a well - educated labour force, able to adapt to the international labour market, in addition to the local one. therefore, the education - related policies on the younger generation must, above all, ensure the quality of education and incorporate programmes that assign greater importance to its practical orientation. the bank of albania is now very seriously committed to its public financial literacy programme. in this context, we have designed and implemented a series of projects and cooperation initiatives, covering different age groups and geographical areas across the country. it is clear that these objectives cannot be accomplished by the simple wave of a magic wand. they are even hard to be accomplished in due time and with the capacities of a single economy. albania is indeed a small economy but thanks to continuous reforms, it has turned into an attractive country to foreign investors. our vision has been and remains open to any regional initiatives. we are able to become part of joint regional projects, thus providing evidence for the great absorptive capacity for big investments and serious investors. bis central bankers ’ speeches therefore, the formulation of policies for attracting foreign investment, coupled with the constant improvement of the business climate and relevant legal framework, should be continuous part of the country ’ s economic development strategy. dear guests, despite being a small country, albania represents a vibrant economy with vital people who are able to undertake wide - ranging business intitiatives. moreover, our country shares a considerable part of its official borders with albanianin

ardian fullani : promoting investment in albania speech by mr ardian fullani, governor of the bank of albania, at the 3d international conference on “ fdis in albania ”, organised by the albanian investment and development agency ( aida ) and the islamic development bank ( idb ), tirana, 11 june 2012. * * * your excellency mr. sali berisha, dear mr. khalid al aboodi, dear minister of finance, dear ladies and gentlemen! it is a special pleasure for me to address this joint conference with the islamic development bank, dedicated to the promotion of investment in albania. allow me first to extend my thanks to dr. ahmed mohamed ali al madani, president of the islamic development bank, for his utmost contribution to lobbying and supporting albania ’ s interests in the arab and broader world. the bank of albania assesses that albania ’ s macroeconomic stability has been and remains a fundamental condition steering economic agents ’ investment, consumption or savingsrelated decision - making, not only for the present but also for the future. it is this very fundamental equilibrium in the economy that paves the way for albania ’ s long - term economic and financial development. let me recall to you that, in present days, macro - financial situation represents the “ passport ” the entire economic and financial credibility of a country is built on. in an integrated market that is ever - increasingly being affected by the globalization process, macroeconomic stability exerts the same impact on foreign investors as well. it is for this reason that our monetary policy, our role as the supervisory authority for the banking sector in albania, and our contribution to the communication between the public authorities at home, have been based on and have reflected this fundamental principle. the bank of albania has succeeded in guaranteeing a favourable macroeconomic environment in the recent years. i would like to remind you that the stability of the albanian economy has been achieved under the constant pressure of the global crisis, which has severely hit our main trading partners. thanks to the efforts of the bank of albania, successful monetary and fiscal policy mix, stimulating policies in the tax area and ongoing improvement of the business environment, the albanian economy has recorded satisfactory growth rates ranging 3 – 4 % in real annual terms. this growth has been achieved amidst an environment characterized by stable prices and a balanced exchange rate. albania ’ s financial stability has, in no single moment, been put into question, and the banking system, which enjoys buoyant liquid