TIRANA, July 24 /ATA/ – The Minister of Defence Niko Peleshi stated Wednesday that the plans to launch its first weapon manufacturing and military services company named KAYO would allow the Albanian state become part of the military industry.
Addressing a session of the Parliamentary Committee on National Defence to discuss the bill on creation of the company for the production and trade of weapons, ammunition, equipment and military technologies, Defence Minister said that the new legislation aims at creating the first state-owned weapon and military technology manufacturing company in the country.
Peleshi noted that the military industry represents a good opportunity to increase the state budget revenue.
Defence Minister said that company KAYO marks a shift from the existing concept of the state’s participation in various cooperation projects with other private domestic of foreign operators.
Minister Peleshi added that the company’s initial budget is estimated at EUR 3 million.
“KAYO won’t develop the country’s military industry alone, but the company will be the instrument through which the state becomes a shareholder in partnerships with either local or international operators,” he explained.
The Albanian government has prepared the “Made in Albania” Arms Production Law, which regulates the industry for the production, research and development of weapons, ammunition, equipment and military technologies, as well as their trade.
The government aims to revive its dormant weapon production plants from the communist era by partnering with foreign investors through public-private ventures.
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