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.

/r.e/u.sh/

At a televised interview, PM Rama underlined that leading international companies, including Shell, Mercedes Benz, Korean and Japanese companies, and France’s Voltalia are implementing investment projects in Albania. The government head also pointed out the major development project in Durres port.

PM Rama said that the British multinational oil and gas company Shell has demanded new contracts on oil and gas explorations be signed with the Albanian government.

“Shell failed to discover oil, yet it is demanding that new contracts are signed so that the company can go on with more explorations. Other leading companies have already arrived in Albania, from the Mercedes Benz to the Korean company that has created 1500 jobs in the region of Fier, the Japanese company that has created 400 jobs and will open more new jobs in Kamz; Lufthansa that has employed 400 people locally, France’s Voltalia that has been awarded the due contracts on building two biggest photovoltaic parks and will invest hundreds of millions of euros. Durres port project is worth over two billion euros,” the government head said.

/u.sh/

In his remarks, Bibali said that during the meeting it was discussed the current situation, as well as the incentive policies to attract foreign entrepreneurs who want to invest in Albania.

“We discussed the current situation, the problems encountered during the pandemic period, as well as the incentive policies to attract foreign entrepreneurs who want to invest in Albania,” Bilali said.

Billai expressed confidence that appropriate conditions will be created to increase the presence of Swiss investors in Albania.

“Appreciating the fruitful cooperation and the great potentials our country has, I am convinced that we will be able to create the appropriate conditions to increase the presence of Swiss investors in Albania,”Bilali added.//a.i/

The Bank of Albania announced today that, foreign investments in this sector have shown an upward trend, while a year ago no foreign investments have been registered in this sector.

The agri-processing industry leads this sector with a series of important investments in all its sectors, such as processing of milk, meat, fruits and vegetables, etc., bringing a new development standard in quality products, increasing value in the production chain and job creation.

The meat processing sector leads with 83 new investments in physical assets in 27 municipalities of the country, of which 22 of them are start-ups and 10% belong to foreign entrepreneurs who invest in Albania. //a.i/

In his remarks, the Minister of Tourism and Environment, Blendi Klosi emphasized the importance of strategic investments to make Albania competitive not only in the region but also beyond.

“Our state administration bows in respect to the extraordinary contribution of the Albanian investors to have a competitive tourism not only in the region, but also beyond,” the Minister Klosi said.

The legislation on strategic investments, consisting of the law on strategic investments, as well as a series of decisions of the Council of Ministers already adopted, in recent years represents a completely new regulatory framework focused on incentives for attracting foreign investment, or awakening of domestic capital. //a.i/

According to the Bank of Albania, the Dutch investment flows constitute about 22% of the total foreign investment flow in Albania, leading the list of foreign countries investing in the country.

Dutch investments increased by 22 million euros compared to the first 9 months of 2020, and shrank by 21% compared to 2019, due to the COVID -19 pandemic.

The highest inflow of financing is mostly related to investments in the hydropower plant with the “Statkraft” company project on the Devolli river, southern Albania.

Total foreign investment in the energy sector amounted to 260 million euros at the end of 2020.

Meanwhile, foreign investments in Albania reached 933 million euros at the end of last year. //a.i/

According to the Bank of Albania, the Swiss foreign investments in Albania is ranked second after the Netherlands, amounting to EUR 190 million at the end of 2020.

During the 9-month period of 2020, Swiss investments increased by ALL 26 billion, while compared to the same period of the previous year, they decreased by EUR 7 million.

The Swiss investments are mainly focused on gas industry, as well as on economy, health and social sectors. //a.i/