A law adopted by the Albanian parliament in 2015 on “Strategic Investments” had in its core a provision of fiscal and procedural facilities aimed at attracting foreign investments, but without excluding Albanian companies.
But according to data procured by Euronews Albania, in 7 years since the adoption of the law, there are a total of 17 companies with Albanian owners that have been selected “strategic investors” and only 2 foreign ones, while 1 company has a joint capital of 1 next with the state investor.
7 years on from the enactment of this law, only 2 foreign companies were granted the ‘strategic investor’ status, all the other 17 had Albanian owners.
In total, €435 million were invested by Albanian companies and around €63 million by foreign companies.
The most invested sector is tourism, with some 85% of the investments used to build new resorts, as opposed to 15% that fo into the sectors of agriculture and energy.
A total makeover of the Port of Durres by a foreign company could actually overturn these figures.
However, this company has not submitted a business plan to the Strategic Investment Committee, which outlines the amount that it plans to invest in the project, although according to public statements it can reach €2 billion.
By being granted the status of a strategic investor, companies receive the state ancillary infrastructure for the project, such as roads, power lines, water supply, public property, or even expropriate private land for the public interest.
While investments in hotels that operate in the field of large “brands” are excluded from infrastructure tax, profit tax, and reduced VAT.
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