In Albania, over 5 million people are working in call center type companies, due to the fact that many Albanians have foreign language skills, especially in Italian. Recently, most call centers have shifted towards online trading, reason why Patrascu Octavian Constantin, a business developer, has also decided to enter this market.
Quite a few investors seek business opportunities in Albania and succeed in building businesses here. Among them, Patrascu Octavian Constantin, a business developer, has concluded a business partnership with Platinum Invest, 5th in the top of local brokerage firms. A joint venture was concluded in Tirana, business also involving the provision of the call center service.
“Financial services in Albania are diversifying and the fact that it is a large call-center market provides important potential for online trading”, states Patrascu Octavian Constantin. Albania is a country where over five thousand persons are working in call center type of companies. People here are very hard working and they speak many internationally used languages, especially Italian”, added Patrascu Octavian Constantin.
According to the data from the Investment Development Agency in Albania, the corporate taxation rate is 15%. Also, Albania has concluded treaties to avoid double taxation with 30 countries and applies the same treatment to local and foreign investors. Concerning the labor force, 57% of the population has ages below 35 years old, and over 1 million young people are well educated and professionally motivated. Last, but not least, Albania has the lowest minimum wage in the area, of 157 Euro.
The main client on the Albanian call center market is Vodafone, but recently more and more companies have shifted towards online trading. At any rate, the market is dominated by Italian call center companies. This very explosion from the past two years of such companies on the Albanian call center market have made the authorities in Rome and Tirana conclude an agreement regulating the activities of Italian call centers abroad. This was owed to the lack of local regulations concerning the activities of companies having clients outside the Albanian borders.
Albania is an important outsourcing location for Italy, but also for investors in other countries, mainly due to the low tax rates. Which is the exact aim of Patrascu Octavian Constantin when he left on his business trip to Tirana.
The call center service has become essential to many companies, including online trading ones, since the crisis period, when they were forced to find fast solutions for generating client loyalty for the existing clients and for gaining new clients, as well. Call center suppliers have answered the companies’ needs, adjusting their offer to the market demands, not only from the cost perspective, but also in terms of flexibility and diversity of their offer.
Despite legislative gaps concerning the activity of call centers in Albania having foreign customers, Patrascu Octavian Constantin, through the business he concluded, succeeded in finding a manner of maintaining and providing this service to the foreign market from that very location.
What made Patrascu Octavian Constantin conclude the deal with Platinum Invest was the authorities’ attitude to a business proposal involving online transactions and specific local regulations. “Once the business was explained to them concerning the trading of CFD (contract for difference) and the know-how I want to implement, the authorities have been cooperative”, clarified the business developer”.
Patrascu Octavian also told us that the major shareholder of the Albanian brokerage company, Andri Kasneci, “an ambitious young man I could communicate very easily with, being open to new business opportunities”, has received his business vision with enthusiasm.
“In our business area, we do not need to reinvent the wheel, but only to find a way to make it spin faster, but not brutally, at the same time. Hence, Octavian has the necessary abilities to succeed and he has found the formula for success”, states Andri Kasneci.
A report concerning Albania’s economy posted on the World Bank website, shows that the financial sector, even though it is still subject to significant risk, has maintained stable, and, recently, trends of improvement have even been noticed. This could also explain call center companies’ trend of shifting towards online trading, as the Albanian financial market matures.
This article was published in Business Magazin by Patrascu Octavian Constantin