TIRANA, February 14
A new law on foreign investments in Albania will be drafted starting this year. This measure was considered necessary given that no potential investors chose Albania during the last three years. The hydropower plants on Devoll River and the Trans Adriatic Pipeline (TAP) are at the forefront of the current high FDI inflow. However, the situation will change if measures will not be undertaken soon.
In order to face any situation, the legal basis on foreign investments may change, Monitor magazine reported. It was referred to the reform program for 2017-2019. The document says that the procedure for drafting a unified law on foreign investments will start this year.
According to the government’s project, this law will replace all the existing regulations, institutional agreements on investments and especially the law on foreign and strategic investments.
The basis of changes to the law will focus on a mechanism for tracking and managing complaints and concerns raised by investors in order to find solutions to the problems that they face in Albania.
According to the Ministry of Economy, the new law on investments will provide coordination of labour, safety and environmental standards, and domestic legal frame conforming to international treaties that Albania has adhered.
News Source: Monitor
Photo Credit: pixabay.com
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