The government has compiled a new draft law on the strategic investments, which predicts the establishment of new regulations and structures for the boost of investments. According to the draft law, all types of investments in the main sectors of the economy which will vary from EUR 1 ml to EUR 100 ml will be considered as strategic investments.
This draft law foresees the establishment of the Committee of Strategic Investments, as a collegial body of the Council of Ministers, which will be headed by the Prime Minister of the Republic of Albania. The Committee will have the right to take decisions on giving the status to investments as associated or specific strategic investments. The government also will establish the Fund of Real Estates for the Support of Strategic Investments which will finance various projects regarding the improvement of investments’ management.
The Committee of Strategic Investments will estimate the proposed investments by Albanian or foreign investors and will be discussed along with the respective Ministry, depending on the sector the investment will take place. This institution will monitor the functioning of the “Unique Window” system for services provided to investors, the performance and the impact of strategic investments and will approve the concrete supportive programs and funds for strategic investments.
Through this initiative, the government will make an overall review of potential investors regarding the financial condition, the current position in the market, the previous experiences in investing and the capabilities of an investor in ensuring funds for the proposed investment.
The law aims to boost foreign investments and will be in force until December 2018, which means that during this period foreign and Albanian investors will profit by accelerated procedures and easing incentives.
News source: ATA
Photo credits: geralt (Flickr)
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