Entry into force of new Law on Strategic Investments
01 Jan 2016
On 1 January 2016, the new Law on Strategic Investments, No. 55/2015 and the secondary legislation entered into force. The law foresees as strategic investments private, public or public-private investments in the following sectors: Energy and mining; transport, telecommunications; infrastructure and urban waste; tourism; agriculture and fisheries; and investment in economic zones and priority development areas that have impact on the Albanian economy. In order to qualify as a strategic investment, different minimum capital requirements have to be met. These requirements range from 1 to 50 million USD.
Investors granted strategic status will benefit from assisted procedures, priority handling and preparation of documentation, issuance of opinions, access to state-owned immovable property and other benefits.
The law establishes a 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 Albania Investment Development Agency will be the responsible administrative structure for providing services to investors, perform the role of the assisting agent, and follow all administrative procedures until the realization of the investment project.
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Type:
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Promotion and facilitation (Investment facilitation )
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Industry:
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Primary (Agriculture, forestry and fishing, Mining and quarrying)
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Services (Transportation and storage, Accommodation and food service activities)
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Sources:
