Ministry of Energy and Industry has announced the latest initiatives in the mining sector in Albania, an upcoming collaboration of the Albanian government with a private investment company. The Ministry is working for the establishment of a company in Elbasan city for chrome processing which has a high demand for it in markets of developing countries. By this, the Ministry is trying to boost domestic production in the mining industry, an incentive that has been reflected even in the new fiscal package.
Official sources from the Ministry say that production and exports in this sector have increased but prices fluctuations in the international markets have affected in the amount of revenues collected from this sector.
Nowadays there are about 800 licensed businesses operating in the mining industry since many other fictive companies (more than 900 companies) were closed during 2014, after controls concluded they didn’t met the required work conditions. “We must apply standard policies to boost production in this sector, since the production capacities are increasing and many investors are seeking to invest,” sources from Ministry of Industry declared. The same scheme for the increase of foreign direct investments will be applied even for hydrocarbons and copper.
News source/photo credits: ATA