U.S. Investments Could Turn Albania Into A Regional Trade Hub, Says AmCham President

U.S. Investments Could Turn Albania Into A Regional Trade Hub, Says AmCham President

The President of the American Chamber of Commerce in Albania, Enio Jaço is optimistic about the future of American investments in Albania and the region following deals signed by Kosovo, Serbia, and with Albania.

Jaço spoke to the Voice of America on Sunday regarding the expected American investments.

On October 3, Albania and the U.S. signed an MoU on economic cooperation, and on the construction of the Skavica hydropower plant by Bechtel. Albanian Prime Minister Edi Rama said it will be financed by the U.S.

On September 4, Kosovo and Serbia signed separate pledges in the White House to normalize economic relations.

“Now that the TAP and Devolli projects are nearing completion, Skavica will provide a new impetus, a large number of jobs for Albanians and a job opportunity for local subcontractors, including members of the American Chamber of Commerce,” Jaço said.

He assessed the deal on Skavica as one of the most important ones since the 1990s in terms of Albanian-American economic cooperation.

Jaço sees the investment as an opportunity for Albania to gain energy independence, and pave the way towards regional leadership in terms of energy.

The AmCham president applauded the pledges signed by Kosovo and Serbia, and singled out the infrastructure (road and railway) projects connecting Serbia with Kosovo and giving them access to the Adriatic Sea.

“If it happens, it could turn Albania into a kind of regional trade hub,” Jaço said.

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