TIRANA, April 10 /ATA/ – A technological and economic development area (TEDA), located between Tirana’s Kashar and Vaqarr areas, represents yet another development of strategic importance due to be constructed on a 35-ha area and is poised to revolutionize industries, create high-paying jobs, and attract international investments.
The project aims to attract a broad range of industries, including automobile manufacturing, information and communication technology, electronic equipment, pharmaceuticals, and agro-processing, and tourism.
According to the decision published on the Official Gazette, the Technological and Economic Development Area (TEDA) is a game changer for the Albanian economy and it offers a huge potential for further development and attraction of foreign investors.
TEDA Kashar is a greenfield project that presents an opportunity for customized facilities tailored to the needs of specific corporate investments. Located 3 km away from Tirana, 30 km from Durres, and 12 km from Mother Teresa Airport, the selected area is ideal for foreign businesses looking to gain from the benefits of Albania’s dynamic workforce and close proximity to the markets of the European Union.
According to the developer’s bid, the investment and reinvestment value of the project is estimated at 1,287,393, 435 lek, without the Value Added Tax included.
The implementation of TEDA Kashar’s public infrastructure, and its subsequent monitoring, is a significant step towards establishing this economic zone and promoting industry diversification in Albania, attracting complex manufacturing sectors like automobile, ICT, and electronic equipment industries. Additionally, the potential establishment of data centers has already attracted significant international interest, with many companies from Israel expressing interest in relocating to Albania.
The government has announced various benefits such as on-site customs administration and incentives, including deductions on capital expenses and training costs, exemptions from profit tax rates and infrastructure taxes, and VAT exemptions on goods entering the area.
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