EU Okays Draft Law on Corporation of Investments

EU Okays Draft Law on Corporation of Investments

TIRANA, 16 September

European Commission has given its O.K. on the reviewed draft law on Corporation of Investments, calling it thoroughly in accordance with the rules of the European Union. A legal note sent to the Ministry of Foreigners in Albania, by the Head of Unit for Albania and Bosnia and Herzegovina in the Directorate-General for European Neighborhood Policy and Enlargement Negotiations of the EU, Ms. Michela Matuella, declares that the new draft reflects fully the comments and addresses the concerns that the Commission had expressed on initial draft law.

Matuella said that she wants to confirm that the new draft law on Corporation of Investments that the Albanian officials have sent on 18 July 2019 takes into consideration in full the EU comments. She closed by saying that she would like to thank the Albanian government for the great collaboration. The initial draft of the government for the state Corporation of Investments raised concerns on the partners and international institutions. The most controversial point of this draft law was the right to procure investments as a private company, thus in violation of the law regarding the public procurations and the directives of the EU.

After these remarks from the international partners, the parliamentary commission of economy through a deal between the deputies of majority and those of opposition decided to withdraw the draft law in the last minutes. Since then, the Ministry of Finance and Economy has developed intensive consultations with the experts of the EU, which resulted in the change of the initial draft law and is expected to be voted for approval today, on 16 September as per the agreed and approved version by European Commission.


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