The EITI Conference, a showcase for foreign investors promoting transparency

The Ministry of Infrastructure and Energy in cooperation with the Extractive Industries Transparency Initiative (EITI) organized a conference on “Taxes and the legal framework of Extractive Industries – Albania’s case and best International practices”. At this conference were present Deputy Minister of Infrastructure and Energy Mr. Enis Aliko, Director of the Albanian National Secretariat of the Global Extractive Industries Transparency Initiative, Ardit Kamberi, Director of the World Bank in Tirana, Maryam Salim, and Mr. Ervin Mete, Director of the Cabinet of the Minister of Finance and Economy.

The EITI is a coalition of 51 countries aimed at optimizing the use of Natural Resources (Mining, Hydrocarbons and Hydropower) and aims to promote transparency to prevent corruption, provide institutions and citizens with a basis for assessing use right to natural resources.

The Director of the Albanian National Secretariat of the Global Transparency Initiative in the Extractive Industry Mr. Ardit Kamberi in his speech said that he sees EITI as a showcase for foreign investors by promoting transparency as well as directly influencing the absorption of foreign investment in Albania.

“The focus of the EITI focuses on the trajectory between natural resources and public revenue, which naturally concentrates on the so-called the chain of values, which starts with concessional procedures, revenue generation and social and economic contributions. EITI seeks to strengthen the health and immunity of both governmental and business systems to foster debate and transparency for the public interest, “said Kamberi.

Congratulating the EITI for the results achieved, Deputy Minister of Infrastructure and Energy, Mr. Enis Aliko during the speech delivered to the audience listed some results from the preliminary assessment report.

“So, I gladly note that out of 28 chapters reviewed by the evaluator, in 50% of the chapters we have a good performance, in almost 45% of the chapters we have enough performance and only 5% are evaluated as inadequate or without progress. All this is very positive, but at the same time it also entrusts us with great responsibility for maintaining this standard and further improving it. In the evaluation process, the EITI Interagency Working Group and its role in leading the EITI Strategic Processes in Albania have been attached. I want to emphasize that one of the main aspects is reporting and timely data collection, as well as the quality of the data, “underlined Aliko.

The Deputy Minister demanded even greater engagement from civil society organizations which, according to him, are extremely useful for this Transparency Initiative. Mr. Aliko said, among other things, that the EITI is in the process of adopting the draft law “On the transparency of the activities of extractive industries and the exploitation of natural resources in the Republic of Albania”.

“The purpose of this law is to promote and ensure the enhancement of transparency in extractive industry activities in particular and the use of natural resources in general through the implementation of international standards EITI. One of the objectives of the EITI is to increase transparency on the owners or final beneficiaries of extractive industry activities and within the year 2020 will be established a register of final beneficiaries whose reporting will be mandatory “, said Aliko.

Another aspect to be improved according to Mr. Aliko is the appropriateness of existing agreements, permits and concessions, mining or hydrocarbons, the international oil and oil market situation and recent developments in the fiscal and legal framework in Albania.

“From this point of view, we are aware that models of agreements signed 20 or 25 years ago are not suitable for optimizing the use of natural resources. In this aim, we are also utilizing the experience of international specialists, aiming at drafting new rules on how to attract investors, how to make available or use existing or new areas and blocks and to distribute the benefits fairly from the extractive activities. This can only be achieved through a transparent process and free competition, and our efforts are focused here, “Deputy Minister Aliko concluded.