The Albanian Investment Development Agency has published a newsletter regarding the investments that may be subject to the Strategic Investor Status.
Specifically, the newsletter presents the sectors in which projects that meet the conditions to benefit from this status can be developed, with the main criteria being the minimum value of the investment and the number of jobs created. Six sectors are eligible for the Strategic Investment Scheme: energy and mining, transport, infrastructure and electronic communications, tourism, agriculture and fisheries, technology and economic development zones, priority tourism development areas. For each of the above sectors, the Service determines the minimum investment thresholds required, both for inclusion in the “assisted procedure” and for inclusion in the “special procedure”.
In tourism, the minimum threshold for the assisted procedure is 5 million euros and the creation of at least 80 new jobs, while the special procedure requires an investment of at least 50 million euros. Also, in priority tourism development areas, the assisted procedure requires an investment of at least 1 million euros and the creation of 150 new jobs, while the special procedure requires an investment of 10 million euros and at least 600 new jobs.
In the energy and transport sector, a minimum investment of €30 million is required for the assisted procedure and €50 million for the special procedure. In the agricultural and fisheries sector, inclusion in the assisted procedure requires an investment of at least €3 million and 50 new jobs, while the special procedure requires an investment of €50 million. In the technology and economic development zones sector, the threshold for the assisted procedure is €5 million, while the special procedure requires €50 million. In addition, for other sectors not explicitly included, the Service clarifies that investments of a value equal to or greater than €50 million can be included in the assisted procedure, following prior approval by the competent Ministry. Accordingly, investments of a value equal to or greater than €100 million can benefit from the strategic investor status through the special procedure. At the same time, it is noted that the Strategic Investor Status in Albania provides a series of administrative and institutional facilities for the implementation of large investments, enhancing the country’s growth potential and attractiveness as an investment destination.
Already, the Strategic Investment Committee of Albania has recently approved four new projects related to various sectors, such as tourism, energy and industry. These include the construction of a hotel in Ksamil by “AICA Imobilare”, worth 45 million euros, which will create 180 new jobs, a new nickel refinery and brick factory in Perrenjas, by “CVMR Albania”, worth a total of 205 million euros, with an expected production of 10,000 tons of iron-nickel per year using nickel processing waste as raw material, the tourist complex “Pashaliman Laguna Eko Resort” in Vlora, by “Meta Resorts Albania”, worth 21 million euros, which envisages the restoration of historic buildings and the development of floating structures, while promoting sustainable tourism in the region, as well as the “Kirax Integrated Wind and Photovoltaic Park” in Lezhe, by “Kirac Green Energy”, a member of the Turkish Kirac group, worth approximately 130 million euros. It is noted that the latest project concerns the construction of a hybrid energy park, which will combine wind and photovoltaic energy with a capacity of 125 MW, which is expected to contribute significantly to Albania’s energy security.
The information comes from the Office of Economic and Commercial Affairs in Tirana.
