The state-owned arms production company was officially registered with the QKB today. At the head of the company named KAYO will be the former head of the state police and then AMP, Ardi Veliu.

The initial capital of the company is 150 mln ALL and its activity is “design, production, repair, demilitarization, disposal and trading, domestically and abroad, of all types of weapons or parts of weapons, including military weapons, ammunition, military technologies and equipment, uniforms, tools, weapons equipment and communication systems as well as any activity related to this activity, in function of the national security and defense policies and the increase of military capacities”.

“During the development of its activity, the Society also pursues economic and commercial interests. The main objectives of the Company’s activity are as follows:

a. design, production, repair, demilitarization, disposal and trade, inside and outside the country, of all types of weapons or parts of weapons, including military weapons, ammunition, technologies and military equipment, uniforms, tools, equipment and weapons and communication systems, as well as any activity related to this activity, in function of the national security and defense policies and the increase of military capacities;

b. the establishment, development and strengthening of the arms production and trading industry, with the aim of ensuring the needs of the Armed Forces and those of security in the Republic of Albania, as well as the realization of economic profit;

c. production and supply of necessary equipment for the Armed Forces and other responsible security structures to guarantee the protection and security of national interests;

d. building, developing and improving domestic capacities to produce and supply the Armed Forces and other responsible security structures with equipment necessary for their operations;

e. mobilization of state and/or private capital in order to develop its activity;

i. promoting investments in technology and innovation for the production, use, and trade of weapons inside and outside the country;

f. cooperation with various state and private, national and international entities, for the development of the object of its activity;

g. financing or co-financing of projects in the field of defense and national security or companies established in cooperation with private and/or public entities established for their realization.

2. Also, in accordance with the legislation in force, the Company will carry out any commercial and financial operation related to its activity.

This also includes the right to create other structures according to the procedures defined in the legislation in force”, it is further clarified in the registration document at the QKB.