For a euro, Albania makes state property available to business

For a euro, Albania makes state property available to business

The new measure is intended to attract investment and reduce unemployment.

Prime Minister Edi Rama presents investment opportunities in Albania to a group of Italian businessmen. [Office of the Prime Minister of Albania]

The Albanian government will rent state-owned property at a symbolic price of 1 euro in an effort to encourage foreign and domestic enterprises to invest in Albania and reduce unemployment.

"We have decided to provide lands against the annual 1 euro fee for each and every investment in production," Prime Minister Edi Rama said at a meeting with businessmen from Albania and Kosovo.

The measure, popularly termed "Albania 1 euro," also includes for rent military bases and warehouses under life-long contracts.

Reducing unemployment was Rama's main campaign promise during the elections seven months ago. Approximately 1 million of Albania's 2.8 million people are unemployed.

Various entities have already expressed interest in renting state-owned property, said Vojsava Bozgo, a specialist on state property at the Albania economic development ministry.

"We are now working to highlight the possible state-owned parcels to lease to those companies that desire them in order to lead their [business] activities via this rent-based approach," Bozgo told SETimes.

Entrepreneurs said the initiative may particularly be profitable for industrial entities that will invest more than 10 million euros, such as clothing producers and for social enterprises in the fields of culture, tourism and sports.

This initiative provides Albania the opportunity to become one of the most preferred manufacturing destinations, said Donika...