Green Coast of Balfin Group is a strategic investment

Tourism project "Green Coast", whose value is estimated at about Euro 52 million will be classified as a strategic investment. The decision made by the Council of Investments in the Ministry of Economic Development, Tourism, Trade and Entrepreneurship is expected to be pronounced, but for "" it is confirmed by the investor, Balfin Group, which is going to make the development and implementation of this project. It is about an elite tourist resort with two-storey villas in Draleo, Municipakity of Himare, and it is expected to employ about 500 persons. This group provides the realization of another major investment, which is expected to take also the status of strategic investment in tourism, which will be in Hamallaj (Bay of Lalëz) where it is planned to establish a recreational tourism complex of high standards with total value amounting to Euro 26 million. The Albanian government has identified in total four strategic investments, three in tourism and one in agriculture, which amount Euro 116 million. What does the strategic investor benefit? The legislative package sets out the relevant sectors and sub-sectors of identified strategic economy, and provides favorable, facilitating or accelerating specific administrative procedures of support and services to strategic investors. There are two main criteria of an investment, in foregoing sectors / subsectors: Specifically the public interest bearing investment and financial criteria.
Public interest in the selection of a strategic investment is estimated, inter alia, by the amount of investment, time of performance, productivity and its added value, opening of new employment, regional and local economic development, delivery of new technologies to increase the competitiveness and efficiency of investment, environmental and consumer protection etc. The financial criteria, as per the strategic sector where investment is realized, or its status, varies from a value equal to, or greater than Euro 1 (one) million up to a value equal to, or greater than Euro 50 (fifty) million.

26 July 2016

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