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Albania announces coastal tax-free economic zone

Xinhua, March 25, 2015 Adjust font size:

The Albanian Ministry of Economy announced Tuesday it has approved a tax-free economic zone in the country's coastal city of Durres.

The 22-hectare economic zone will cover different economic sectors with an focus on logistic services, and businesses intended to operate in the zone will have to sign a contract to stay there for 35 years, according to the Independent Balkan News Agency.

Experts say that the economic zone has great advantages given its location near the port of Durres and the convenient maritime transportation from there to Italy and other Balkan countries.

This tax-free economic zone will attract more investment to the area and serve as a significant driving force for local development. Endi