Board of AmCham meets with Mr. Lulzim Basha and Mr. Petrit Vasili to discuss the economic vision of the respective parties for the next four years

The Board of Directors of AmCham organized a series of meetings with the political leaders of the Democratic Party (DP) and the Socialist Movement for Integration (LSI), to discuss their economic programs for the next four years and to share the expectations of AmCham on these programs.

During the discussion with Mr. Basha, Chairman of DP, the attention was focused on the economic development policies, the vision for the fiscal regime, which stimulates the domestic businesses and the foreign investments and the work that this party does to fight corruption and build up the capacity of the public administration. Mr. Basha expressed his conviction that by strengthening the role of the public administration and rule of law and by creating at the same time suitable conditions for the private sector, the economy will revitalize and the level of foreign investments and employment will increase. Mr. Basha emphasized the promises of DP to reduce the tax rates by reducing VAT from 20% to 15%, setting a flat tax of 9 % and a zero tax rate on the dividend.

The representatives of AmCham Board were of the opinion that the tax reduction will be a positive factor, but it is necessary that this is accompanied by other measures as well. Creating a sustainable business climate begins with lowering corruption level in the administration, sustainability in decision-making, public transparency and trust in courts and it continues further with efficient sectoral development strategies and opening of the markets for a fairer competition. The Board of AmCham requested Mr. Basha to have such discussions on ongoing basis, as they will enable the businesses to express their opinions on their operation conditions.

The meeting with Mr. Petrit Vasili, Chairman of LSI, focused on the same topics. Mr. Vasili shared his party’s vision on the economic development of the country for the next four years. Speaking on the development policies, Mr. Vasili explained that LSI aims to develop a long-term strategy for the two most important sectors of the country, agriculture and tourism and also help the strengthening of small and medium enterprises, as a way of generating employment. Speaking on the tax reduction, Mr. Vasili focused his attention on the progressive tax on income, expressing the conviction that lowering this tax will also help reduce tax evasion. LSI intends to increase the threshold of zero taxed income from 30, 000 Lek to 35,000 Lek and further to tax income from 35,000 to 200,000 at a rate of 8 % and the income over 200, 000 Lek at a rate of 10 %, as opposed to the current 23%.

During this meeting, Mr. Vasili observed the opportunities that should be granted to the new and small businesses. He emphasized the conviction of LSI to remove barriers for small businesses, especially for those in the remote areas of the country, which try their best to survive and sustain themselves without asking for any help or aid from the state. Meanwhile, policies related to youth will be the focus of attention of LSI, as a way to utilize the new capacities, but also to engage the most vital part of the population.