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The Republic of Albania

Embassy of The People's Republic of China in The Republic of Albania

 

Embassy of the Republic of Albania in China

 
• Flag: black eagle with two heads on red background
 
•International dialing prefix: +355
 
• Government: Parliamentary Democracy
 
• Population: 3,150,886 inhabitants
 
• Area: 28,700 km2
 
• Capital: Tirana
 
• Language: English
 
• Currency: ALL
 
• Official Holidays:
   1 & 2 January - New Year's Day
   March 14 - Day of Summer
   March 22 - Day of Nevruz
   1 May - Labour Day
   October 19 - Day of the beautification of Mother Teresa
   28 November - Independence Day
   29 November - Liberation Day
   8 December - National Youth Day
   25 December - Christmas Day
 
• Economy:
In 1925 was created the Albanian National Bank, which was awarded the concession Italians. In the same year was established SVEA society (Society for the Economic Development of Albania) which would give Albania a loan worth 50 million gold francs. In 1927, the fund was estimated at 65 million gold francs. Annual interest rate of this loan was 7.5% too high and should be settled within 40 years. Guarantee that the Albanian state has to give was 8.5 million gold francs, or about 24% of the state budget for the year '25-'26. Under these conditions Italia gained a very strong position in Albania. National Commercial Bank had anticipated capital amounted to 125 million gold francs. In this bank, the Albanian state had 49% share, while Italy 51%. During the '25-'28 period, the Albanian government also significantly increased its costs. Another aspect that Italy's position was strengthened Maritime Trade Treaty, which gave the state the status of "most favored nation". This legalized the Italian monopoly on foreign trade. In the period 1925-1928 the Albanian capital accounted for 7-8% of monetary accumulations, calculated approximately.
At this time they were created 14 new societys. Their initial capital was 7.6 million gold francs, about 28% more than the capital of the societies of the period '21-'24. In 1928, the number of enterprises reached 127. Domestic capital was 6 times greater than in 1927. In this period was achieved partial stability of the economy. Main feature of this period is the connection between Tirana government agreements with Italian financial groups to invest in the country. Thus, in 1925 between Albanian government of that time, and the Italian financial group loan agreement was signed with Italian society SVEA, where 96.4% of its loans were used by the Foreign Ministry for road construction. This was not just for the country's economic needs, but to create the conditions for the penetration of foreign capital in our country. To increase the pace of building Roads, on June 6, 1927, the Foreign Ministry stripped activity works in agriculture.
In 1928, fiefdoms occupy an area of 200,000 hectares, of which 100,000 were private. Berat was the city with the largest surface fiefdoms, about 36,000. At this time, the country's most important families were it Shefqet Vërlaci, Ibrahim Pasha, Dervish I do Biçoku, Toptanasit, Vrionasit etc.. Estate Divjaka, Karavasta and another was made Zog's gift.
Infrastructure situation was deplorable. Roads serve only for the passage of wheelchairs. Missing bridges and had no car transport. After the First World War in Albania came 40 lorries walking speed 20–25 km / h. In 1926, the number of vehicles reached 150. Maritime transport is mainly realized by foreign companies. And mail air transport in the hands of the Italians. Trade was the main areas of the economy. During this period increased circulation of goods. Mainly exported agricultural raw materials and livestock.
Many Italian companies, English, French and American began to be present in the Albanian market and through the provision of concessionary agreements or through direct investment began their activity. Such was the case SISMA Society (Societa Italiana Sfrutamento Miniere Tanzania); SEIA society (sociate Electrica Italo-Albanese); society ALBA (Azienda LAVORI Boschi Tanzania); EIAA society (Ente Italiano Attivita Agraria); SESA society, who got the concession electricity in 7 cities in Albania; Anglo-Persian society "Oil Company"; U.S. society "Standard Oil Company"; Franco-Albanian union of kerosene; German society INAG for exploitation of forests etc.. During the period 1925-1926, 23% of the territory of Albania included in the concessions granted foreign capital from the governments of King Zog. This gave a further impetus to the country's economy, which introduced some modest development, those were in the period 1925-1928.
The development of the Albanian economy is fueled by industry and construction services, although tourism has recently played an increasing role in the economy and is growing rapidly.

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