The Parliamentary Committee on Productive Activities, Trade and Environment reviewed on Monday the draft law “On the Mountains Package”, which has as its main goal the promotion of economic development and the improvement of living conditions in the 100 mountainous villages of Albania, creating opportunities for investment and employment.

Deputy Minister of Economy, Culture, and Innovation, Sokol Duma, emphasized the importance of this draft law for state assets located in these mountainous areas, which are currently occupied by private entities without property titles. Duma explained that the transfer of ownership for these assets will be done with a symbolic fee of 1 euro and the ownership certificate will be issued only after the development project is completed. This process will help these assets to be used for development purposes and to bring investments to these areas.

In response to opposition MPs’ concerns about whether this bill overlaps with the bill on strategic investments, the Duma explained that the mountains package is addressed to land users who are not landowners, who can make investments that the strategic investment law does not allow them to make.

Another important aspect contained in the bill is the exemption from taxes for the first 500 investors who will contribute to the development of these mountainous areas. These exemptions include the profit tax, the infrastructure tax, the real estate tax and the value-added tax (VAT) for a period of 10 years, a step that aims to encourage investments in these areas rich in development opportunities.

In a statement made earlier in October 2024, Prime Minister Edi Rama emphasized that this package is also an opportunity to support tourism investments, offering opportunities for those who have abandoned properties in mountainous areas due to emigration and movement to cities, to transform them into tourist assets. This is an opportunity to turn abandoned houses into tourist attractions, contributing to the development of tourism and increasing employment in these areas.

After consideration in the Committee, the draft law will now go to the Assembly for final approval, and it is expected to launch a new phase of development for these 100 mountainous villages, offering new opportunities for investors and residents of these areas.