Deadline for strategic investments extended – Due to the lack of a new law, 1 more year will be available for the requests of entities

The deadline for submission of applications by investment entities interested in being included in the procedures for obtaining the status of “investment or strategic investor” is proposed to be extended by 1 year. In the draft law submitted for discussion in the Parliamentary Committees, “On an amendment to the law” On strategic investments in the Republic of Albania “, as amended”, which is proposed by MPs Milva Ekonomi and Ervin Bushati, it is stated that this deadline should be extended until December 31, 2021, while the current legal deadline is the end of this year.

The report argues that last year, the deadline was extended until December 31, 2020, and highlighted the fact that the Ministry of Finance was working on drafting a new draft law “On Investments” and that this deadline would be sufficient for the completion of all legal procedures necessary for the adoption of this new act. But due to the Covid 19 pandemic, the Ministry of Finance had to mobilize all its capacities to face the situation, making it impossible to finalize the new draft law “On investments”. To this end, in order to avoid creating a legal gap and the consequences that may be created by it, it is proposed to extend the deadline.

SCAN

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