Within this month, the government will approve a package of four laws which aim to provide further facilities for local and foreign investments. According to official sources from the Ministry of Economic Development, the draft law on strategic investments will provide for each investor judiciary guarantee and support in terms of bureaucracies of the public administration.
The second draft law is focused on the development of tourism as a priority sector and will apply the “Albania 1 EUR” scheme, which gives the opportunity for renting state owned territories for a period of 99 years, EUR 1 per year. This scheme will be applied through international tenders and aim the development of tourism in annual terms. The draft law also provides new fiscal and procedural facilities for investors.
The law on concessions will also undergo changes related to the public-private partnership. It foresees that the time needed for a concession procedure will be reduced from 300 days that is currently to 15 days. The draft law predicts the elimination of the minimalist offers and bonuses for unrequested offers, to offer maximal judicial guarantee, ect.
The fourth draft law which is expecting approval by the Assembly is the law related to the free economic zones. It foresees that for the 5 first years, businesses which will become part of an economic zone will have to pay only 15% of the VAT and will not be applied taxes for the infrastructure and transfer tax. The law aims to provide opportunities to businesses in free economic zones to have a minimal fiscal burden in order to increase the employment and the exports.
The Ministry has also announced a new ambitious reform that aims to improve the business climate in the country.
News source: ATA
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