The United States Embassy in Tirana said in a statement on the social media that the meeting focused on ways to advance President Trump’s vision for fair economic partnerships that allow innovation to flourish.

During the meeting, VanHorn shared the Embassy’s plans to provide American expertise on public-private partnerships.

VanHorn also encouraged Albania’s adoption of a robust investment screening mechanism.

“These initiatives promote ingenuity, openness, and accountability so businesses can thrive,” U.S. Embassy said.

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The Ministry revealed the new draft law on the concessions and the public-private partnership contracts in a bid to build a more transparent, competitive and stable system for private investments in the country’s public sectors.

The new legislation stipulates new rules on granting concessions and PPP contracts, putting emphasis on strict financial oversight, transparency in every stage of the process and strengthening supervising institutions.

The draft law requires the Ministry of Finance to pre-approve feasibility studies and contracts, monitor quarterly reports, and reject projects deemed too risky or inconsistent with budget goals.

The Ministry of Finance will also play key role in assessing the contracts’ effects on the state budget in order to evade hidden liabilities or long-term financial risks.

The draft law will also seek to limit unsolicited proposals from private sector operators. Strategic projects must go through open tenders and receive approval from an inter-ministerial committee.

The new legislation clears the way for more investments in infrastructure, energy, education, environment, health, tourism and technology, with the government seeking to establish long-term cooperation with the private sector.

Key oversight agencies would have expanded roles in screening and monitoring private partners.

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