Albania: A Growing Destination for Investors

Albania is increasingly attracting international investors as an emerging destination. In our interview with Christian Canacaris, CEO of Raiffeisen Bank Albania, we discuss the country’s investment climate, key growth sectors, and how Raiffeisen Bank Albania supports companies entering the market. He also highlights recent regulatory developments and their impact on investors. Read on to discover why Albania is gaining attention and how the bank is helping drive international investment.

1. Mr. Canacaris, how would you describe the current investment climate in Albania? What makes the country an attractive destination for international investors? 

Albania’s investment climate combines strong growth prospects with a need for further structural reforms. The country has shown resilience, achieving around 4% GDP growth driven by rising consumption and a robust service sector. This, along with increased political stability, creates a more predictable business environment.

Albania’s strategic location offers access to regional markets, and its wealth of natural resources—especially in energy, tourism, and agriculture—presents attractive investment opportunities. Additionally, tax incentives and streamlined bureaucracy are improving the ease of doing business. Ongoing EU integration further enhances stability and growth potential, positioning Albania as a promising destination for international investors.

2. Which sectors do you see as particularly promising for growth and foreign investment in Albania? 

Several sectors in Albania present strong growth and investment potential. Firstly, the renewable energy sector stands out due to the country's abundant hydropower resources, alongside emerging wind and solar projects, supported by government incentives that enhance its attractiveness. Secondly, tourism is another promising area, as Albania's diverse landscapes and rich cultural heritage, combined with government investments in tourism infrastructure, create numerous opportunities in hospitality and related services.

Additionally, agriculture and agro-processing are significant sectors, benefiting from Albania's fertile land and favorable climate, which support organic farming and food processing. This makes the sector particularly appealing for food processing and export-oriented agriculture. The information technology sector is also experiencing rapid growth, fueled by a young, tech-savvy workforce and strong government support for IT, software, and digital services.

Finally, ongoing investments in infrastructure, particularly in transport and logistics, are paving the way for new opportunities, especially in public-private partnerships. Collectively, these sectors align with Albania's economic development goals and offer substantial potential for foreign investors..

 3. What role does Raiffeisen Bank Albania play in supporting foreign investors—both during market entry and throughout their operations? 

As foreign investors look to tap into these promising sectors, navigating the local business landscape and regulatory frameworks becomes essential for long-term success. Raiffeisen Bank Albania supports foreign investors at every stage, from market entry to ongoing operations and expansion. The bank offers tailored services, including expert guidance on local market dynamics, regulatory compliance, and financial solutions for capital deployment and risk management. Leveraging its local expertise and network, RB Albania helps investors identify opportunities, structure financing, and connect with key stakeholders. Its commitment to transparency and best practices ensures investors are well-supported as they grow and create value in Albania.

4. Could you share specific examples of how RB Albania has helped companies with financing, expansion, or navigating the local business environment? 

As a leading bank in Albania, we support companies through every stage of their growth. For example, we led the largest syndication underwritten by local banks, showcasing our expertise in complex financing. We assist clients not only with entering the Albanian market, but also with expanding their businesses locally and internationally.

Our specialized team structures tailored financing solutions and leverages support from our Vienna Head Office, applying international best practices. From initial market exploration to onboarding, we offer comprehensive financial services and advanced digital tools for cash management. We also help clients integrate sustainability and ESG considerations into their strategies, proactively addressing evolving needs and enabling growth both in Albania and beyond.

5. How do investors benefit from being part of the broader RBI network, especially in terms of regional synergies and expertise? 

Foreign investors benefit from the broader RBI network through regional synergies and local expertise. Our harmonized group processes ensure seamless onboarding, integrated financial solutions, and unified risk management across all RBI institutions. Clients gain access to strategic insights, sector-specific expertise, and innovative digital banking tools—supporting their growth throughout Central and Southeastern Europe.

6. Are there any recent regulatory or structural developments in Albania that you believe are especially encouraging for investors? 

Albania has recently improved its investment climate through key regulatory changes. The country’s removal from the FATF "grey list" reflects stronger anti-money laundering measures, boosting investor confidence. Albania is also aligning its legal frameworks with EU standards, introducing reforms in areas like environmental regulation, corporate governance, and financial reporting to increase transparency and reduce bureaucracy.

Additionally, public administration reforms are streamlining business registration and licensing, making it easier for foreign investors to enter the market. Together, these developments create a more stable, transparent, and attractive environment for both local and international investors seeking promising investment opportunities.

7. Finally, what message would you like to share with potential investors who may not yet have considered Albania as part of their strategy? 

Potential investors should consider Albania’s untapped opportunities and strong growth prospects. Strategically located in the Western Balkans, Albania serves as a gateway to regional markets. Recent regulatory improvements and alignment with EU standards have created a more transparent and stable business environment, boosting overall investment opportunities in the region.

Diverse sectors such as renewable energy, tourism, agriculture, and IT offer significant potential, supported by ongoing reforms and a dynamic workforce. By including Albania in your investment strategy, you can benefit from a growing economy and the country’s competitive advantages. We invite you to explore what Albania has to offer for your business.

Mr Christian Canacaris is the Chief Executive Officer of Raiffeisen Bank in Albania. He has held this position since October 2010. He is a highly experienced banker who has spent many years in board member positions in Central and Eastern European countries and emerging markets. Mr Canacaris has a long career in treasury and capital markets.

He joined Raiffeisen Bank in April 2004 as a board member responsible for treasury, investment banking and capital markets. From February 2010 until October 2015, he was also responsible for Corporate Banking at board level.

During his long banking career, he has held management positions at RZB Krekova Bank, Raiffeisen Bank Maribor, Slovenia, Raiffeisen Bank Romania, National Bank of Greece S.A. in Bucharest, Romania and Paris, and Phoenix Bank in Paris.