Regional Competitiveness and Development with the Reference to the Situation in Albania

Abstract

Democratic Albanian local governance is a prerequisite to the meaningful decentralization of infrastructure management.
When people participate in defining visions for sustainable development for their communities, in formulating strategies for equitable access
to services and resources and in setting priorities for action, they have endorsed. Participation also sharpens their awareness of the
interrelations between economic, social and environment issues. This is a highly significant feature of infrastructure Albanian programs
and carries important role for local development. This Albanian reform allows banks to better evaluate the creditworthiness of potential
borrowers, facilitating access to credit for firms and individuals. Albania also strengthened investor protection. A new company law
requires that disinterested shareholders approve transactions between interested parties and obligates those parties to disclose all
information on the transaction to the public. The law also reinforces directors’ duties and requires directors, when found liable, to pay
damages and return profits to the company. A new bankruptcy law approved during 2008 provides a more efficient framework for closing
a business.