Albania Government announces 1 bln USD project

The bidding process for the tender of economic Spitalla area is open and transparent, assured yesterday the Minister of Economy of Albania. Minister Ahmetaj, presented the procedures, deadlines, evaluation criteria and selection of winners.

Spitalla Free Zone is a project through which Albania Government seeks to attract over $ 1 billion investment and to open 15 thousand jobs for the next 5 years. The interest was high among big businesses, representatives of Chambers of Commerce, commercial attachés, embassies, etc. Ahmetaj said that the tender which was opened two weeks ago, will close on 28 October.

The Minister assured the tax benefits to businesses that will be part of the economic development zone in Spitallë Durres. The developer will have full guarantee from Albania Government, that it will benefit the 99-year contract. Meanwhile business requires more time to this project. “I think that is long enough for an investor for a project so big that make business plan and have clearly identified all sources of funding,” said Egla Ballta, EBRD representative. “I believe, we all believe. We consulted the 65 days plus 4 months ahead. We believe that developers are interested enough, to have a very good project,” responded Ahmetaj.

Another concern of business is that the tax facilities. Nikolin Jaka, head of the Chamber of Commerce, said that the neighboring countries give more fiscal incentives for free zones. But the government has another assessment. “Macedonia has 50 tax convenience and reimbursement of social security 50. And even have a certain amount of 3 thousand euros for each job. Serbia offers tax incentives for 10 years of tax. We are still in the areas of technology and economic development and not a free economic zone said Nikolin Jaka.

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