“Pursuant to the government’s Normative Act, work has begun on the settlement of accrued arrears of military plants for the period 2010-2024; an amount of 213,000,000 lek is earmarked for Poliçan Mechanical Plant; 50 000 000 lek for Mjekës Explosives Plant and 27 000 000 lek for the Gramsh Mechanical Plant,” Vengu said in a post on the social media.

“Settling the liabilities to the three military factories opens a new chapter for the regions where these facilities are located, as this is only the first step towards regenerating local economy,” Defence Minister said.

Vengu said that the financial package also supports establishment of the state-owned defence company, which will be entitled to sign cooperation agreements with foreign investors from the NATO countries to revive the country’s dormant defence industry.

Rebuilding the country’s military industry will require an integrated and coordinated approach to address not only technological and operational aspects, but also legal, financial, economic, social and environmental issues.

This process aims to promote innovation and technological development in defence industry through a close cooperation with the private sector, as Albania is seeking to strengthen its strategic position in the region, becoming a more important defence and security player, in full compliance with the North Atlantic Alliance goals.

The government aims to revive the weapon production plants by partnering with foreign investors through public-private ventures.

/u.sh/