Parliament Committee approves agreement for $250 mln “Iconic Tower” in Tirana

The Parliamentary Law Committee approved the draft law on the negotiation of the agreement between the Albanian state and the company “Al Habtoor Investment LLC” to design and build the “iconic tower” in Tirana.

The draft law stipulates that a negotiating group should be established on the demands that the company from the United Arab Emirates has submitted, which is expected to invest about 250 million dollars, but with the condition of receiving 25 thousand square meters and be exempted from taxes for 15 years.

The support of the Parliament for the establishment of a negotiating group caused controversy among MPs of the Socialist Party, who raised questions how able will be experts to protect the interests of the Albanian state and those of the Municipality of Tirana in front of the company’s demands.

The draft provides that the negotiation procedure will be followed by the Agreement Negotiating Committee, chaired by the Ministry of Economy, and which is composed from representatives of the Ministry of Finance, Tirana Municipality and the State Attorney.

SCAN

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