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Strategic investments/ Proposal: Effects to be postponed until 2027, status 40 projects

2024-01-25 07:30:00, Denoncim CNA

Strategic investments/ Proposal: Effects to be postponed until 2027, status 40

The Law on Strategic Investments approved in 2015 has been continuously postponed arguing with the increase of interest in Albania, but recently this term has been requested to be in force until the end of 2027.

Deputy Eduard Shalsi, simultaneously the Chairman of the Committee for Economy and Finance, submitted a proposal where, in addition to the deadline, he suggested other changes related to the minimum investment and employment values ??that must be fulfilled by the projects that benefit from this law.

Referring to the relationship that accompanies the project, it is said that in total from 2016 until today, at least 88 investment projects have sought to benefit from the status of investment or strategic investor. Of these, 40 of them have benefited from it, while 14 projects have been rejected and 34 are in the evaluation phase.

"Most of these projects are in the tourism sector or integrated tourism. Given that the interest of the subjects is still very high for this legal package and the flow and stock of foreign investments in the country are at the highest figures compared to the last 10 years, in order to avoid the creation of this legal gap, as well as of the consequences that may be created by it, it is intended to extend the deadline for submitting requests until December 31, 2027," the report states.

The law on strategic investments provides for supporting, encouraging or facilitating measures for projects that foresee significant investment values ??or behavior of international brands.

According to the current law, the minimum value of a project proposed to receive potential strategic status is 30 million euros, while for a special procedure 50 million euros.

The new proposal from the majority deputy is to increase this investment value where the minimum of a proposed project to qualify as a potential strategic investment is over 50 million euros, in the sector or to create at least 300 jobs.

Meanwhile, if the subject aims at the procedure in the sector, the value of the investment should be equal to or greater than 100 million euros or the investment should create at least 500 (five hundred) new jobs.

Another element that is targeted according to the relationship is what concerns the evaluation of projects and the follow-up of their implementation.

At the same time, the proposal for changes also aims to increase the accountability of the evaluation of these projects by detailing the evaluation procedure, the division of responsibilities, as well as in the amendments to the law, the conditions for contract/agreement monitoring and status cancellation in case of non-fulfillment of the previously agreed conditions are defined. " it is said in the report./ Monitor.al