Albania is among the very few countries, alongside Kosovo and Bosnia and Herzegovina, that has not accorded any grants on research and development, which contribute to economic growth and hike up employment.

However, this might be set to change as the Ministry of Finance has come up with a bill that aims to stimulate development, as well as lend a hand to businesses damaged by the pandemic.

The bill aims to establish a fuller legal and institutional framework responsive to the need of small and medium enterprises.

The supportive measures will apply to all enterprises, regardless of the sectors in which they operate.

Put another way, the aid will be channeled in three forms, financial aid from the state budget, financial support from local and foreign donors as well as state loan guarantees, according to the laws in place.

The incentive aims to help achieve a number of objectives such as increasing the number of businesses and employment.

In 2020, there 166,000 registered enterprises, or 2,000 more than in 2019.

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