The Minister of Economic Development, Trade, Tourism and Entrepreneurship Arben Ahmetaj presented a new law for foreign investments at the session of the Economy parliamentary Commission. Ahmetaj declared that the economy needs more foreign and local investments in this current stage, stressing that the new law will increase investments in the mining sector, in transport, tourism and agriculture.
“For Strategic Investments” draft law will increase the employment in different regions of the country since it reduces the bureaucratic barriers for foreign investments and offers legal guarantee for the property rights, stated the Minister of Economic Development. According to official statistics, in 2014 the foreign direct investments in Albania reached the amount of $ 1 billion, contributing by 20.9% of the GDP.
The new law on foreign investments predicts the administrative procedures and regulations, which will facilitate and accelerate the investment procedures. The law aims to attract and boost public and private investments, to offer more easing procedures for local and foreign investors.
The law also foresees the establishment of the Strategic Investments Committee as a collegial institution at the Council of Ministers. The Committee will have the right to take decisions on giving the assisted or the unique status for strategic investments which Albanian and foreign investors may propose.
News source/photo credits: ATA
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