During the past year, the competition enforcement activities of the Albanian Competition Authority (ACA) have seen a considerable increase. The ACA approved 99 decisions, a record since its establishment 17 years ago, and fines during the year were the highest imposed in the last five years. Most of the ACA decisions were related to approvals of merger transactions, followed by decisions on market conduct investigations.

On 07.07.2023, the Council of Ministers of the Republic of Albania adopted the Decision "On the determination of entry, residence, and employment in the Republic of Albania of foreign nationals, employees of an IT company" (hereinafter referred to as the “Decision”).

On Friday 21 July 2023, the Albanian Parliament adopted a law which legalizes medical cannabis and industrial hemp (“Cannabis Law”). The Cannabis Law allows licensed companies to cultivate and process cannabis and determines the criteria which must be met to obtain such a permit, but also regulates the cultivation process of the plant and the production of its by-products for medical and industrial purposes.

Following the recent administrative elections, Albania is enjoying a period of calm, political stability, and a strengthening currency, with a draft on medical cannabis production and the first issuance of corporate bonds through a public offer at the top of the agenda, according to Tonucci & Partners Partner Enklid Milaj.

The trend is clear: real estate is noticeably becoming the most dominant sector of foreign investments in Albania. Records from national and international entities and organizations provide data confirming the accelerating increase in the past few years.

Contributed by Kalo & Assocaites

Contributed by Kalo & Associates.

The primary drivers of the Albanian economy are centered around two main sectors – real estate and energy – with increasing shortages of qualified workers emerging as a key hurdle, according to Hoxha, Memi & Hoxha Partner Andi Memi.

As Lexpo – The Legal Innovation Event returns in 2023 after a three-year hiatus, showcasing the latest trends in legal innovation in Continental Europe, CEELM spoke with Dentons Europe Director of Innovation and Member of Lexpo's Advisory Board Andrea Miskolczi to gain an insight into the current state of technology and innovation in CEE, and what the event's attendees have to look forward to.

As the Albanian government seeks to utilize the energy crisis as a catalyst for encouraging energy investments and production, significant changes are expected in the country's overall legislation – in light of the negotiation process – to comply with EU standards, according to Deloitte Legal Local Legal Partner Sabina Lalaj.

Contributed by Kalo & Associates.

2022 was a difficult year. To put a more positive spin on things, Rojs Peljhan Prelesnik & Partners Managing Partner Bojan Sporar, Deloitte Legal Senior Managing Associate Ened Topi, Redcliffe Partners Managing Partner Olexiy Soshenko, Drakopoulos Managing Partner Panagiotis Drakopoulos, and Polenak Partner Tatjana Shishkovska share what was, for them, the biggest positive surprise in 2022.

The Albanian Government is considering to impose an extraordinary payment for energy companies with regard to the profits that they have been realized due to the spike of energy prices caused by the ongoing war in Ukraine.

An in-depth look at Aigest Milo of Kalo & Associates covering his career path, education, and top projects as a lawyer as well as a few insights about him as a manager at work and as a person outside the office.

With Albania’s construction industry accelerating, we spoke with Hoxha, Memi & Hoxha Partner Andi Memi and Tonucci & Partners Partner Enklid Milaj to find out what is being built and where.

With interesting transactions taking place recently and an overall uptick in FDI numbers, it would appear that Albania is fertile ground for high ROI. Deloitte Legal Local Partner Sabina Lalaj and Kalo & Associates Co-Managing Partner Eni Kalo zero in on the status of FDI investments in Albania, explore the most appealing sectors and investors, and make predictions for the future.

On January 20, 2023, Wolf Theiss announced that the merger of ALBtelecom and ONE Telecommunications (reported by CEE Legal Matters on May 17, 2022) has now closed.

Kalo & Associates has advised OTP Bank Albania on the merger of its local operation with Alpha Bank Albania, with the resulting outfit to continue as OTP Bank Albania.