The Albanian Ministry of Finance is planning a bill that will aim to treat Albanian and foreign investors in the same way, giving them the right of land ownership.
The new draft investment law - as reported by the Albanian Albanian business magazine Monitor - it is being prepared, as the legislation in force in the Republic of Albania offers additional protection to foreign investors, but not to Albanians.
For this reason, after the investment council has studied in depth the entire legal part, the Ministry of Finance and the Economy has started the planning of a law that can unify everything, in order to protect both national investors than foreign ones.
Furthermore, the new draft law will deal with strategic investments, establishing principles of equality and non-discrimination among investors.
The problem of properties
Another important issue to be resolved in this legislative draft is that concerning land ownership. In the current investment law that came into effect in the 1993, in fact, foreign investors have no land ownership right in the Albanian territory.
But the new legal framework, aimed at guaranteeing equal treatment, will allow foreign citizens to own land; a sort of obligation - that of satisfying the free movement of people in capital goods - that Albania will have to implement in the context of integration towards the European Union.
It is no coincidence that this problem of non-right to land ownership for foreign investors, is often mentioned in international relations as an obstacle that does not allow to attract foreign investments in Albania.
The new design
However, the new investment law will clarify the restrictions that may be imposed on foreign investors in specific sectors; restrictions that will be periodically reviewed and can be changed.
Finally, he will make the provisions on expropriation, including direct expropriation. The new bill will probably come into effect next year.
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