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Albanian gov't drafts new law on strategic investments

Xinhua, April 4, 2015 Adjust font size:

The Albanian government on Friday 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 vary from 1 million to 100 million euros 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.

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.

According to Albanian Daily News, 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. Endit