Al Pacino and the Albanian Diaspora: Does “the Space between a Handshake” Suffice?

About five hundred Albanian-Americans visited Albania last week in a symbolic attempt to strengthen their ties with “the old country.” The large group visited different regions of the country and had the privilege to meet the highest authorities of government and state, Prime Minister Berisha and President Moisiu. The organisers of this patriotic tour that is similar in intent to the pilgrimages of Jewish Americans in Israel, want to place Albania higher in the diaspora’s concerns in order to stimulate Albanian-American investments. But, beyond the pleasant patriotic spectacle, what should we expect from the economic lifeline of the Albanian diaspora? To put it differently, can Albania manage to go beyond remittances and benefit from business investments by Albanians abroad?
Other countries have turned their diasporas in a powerful asset of economic growth. Israel is one. Closer to home, Croatia was successful in turning diaspora patriotism into impressive rates of Foreign Direct Investment. Can Albania be similar?
With the collapse of the communist regime in 1991-1992, the country was bristling with optimism about the great future of democracy and market economy. The diaspora was to play no small a role in the general progress. That dream went into the proverbial dustbin of history as most dreams tend to do. As regards the diaspora, there was a general overestimation of its organisative capacity and its economic potential. While returning Albanians brought home tales of rich Albanian-Americans that spoke Albanian badly but dreamt of Albania often, these tales turned to be exagerated. Most Albanian-Americans operate s in services and real estate. While their potential should not be neglected, one cannot expect economic salvation from that front.
In the last fifteen years, diaspora investments have been very limited. Nevertheless, despite its modest potential when compared to other potential investors, diaspora capital should be utilised more effectively. But, this cannot be done through personal relationships and what Al Pacino in City Hall called “the space between a handshake”. The diaspora has advantages over others because it “returns” to its homeland with knowledge of the local people and their culture. But, there ought to be no discrimination between them and German, Italian or Turkish investors. Money ought to be invested based on earning potential and not patriotism. Clear and well-implemented law will do the job much better than individual promises. Once we can manage that, the money will come. From Germany as well as from the diaspora.
In its very first week, the present government was faced with an unpleasant situation. A number of Italian investors asked the executive to implement court cases that they had won but the bailiffs had neglected to translate into reality. A sound fiscal system, courts that respect contracts and not political calls would be a good place to start. The Albanian market is small and at a time of fierce competition with other countries in the region, it will be difficult to compete at the best of times.
Together with the traditional diaspora, in the last fifteen years a new diaspora has been created by the million or so Albanians working in Italy, Greece and other Western countries. Not only have some of them opened competitive businesses, but like most first-generation immigrants they have sizable savings that they would be naturally inclined to invest in the country where they “know their way around.” But the space between a handshake is not large enough to convince them to invest their money here. Kevin Calhoon (John Cussack) has already told us so.