ANNOUNCEMENT 01 Dec 2011In December 2011, the government of Albania announced altered domestic business conditions for foreign investors.
NUMBER OF INTERVENTIONS
The source utilized in detecting this measure derives from the Albanian Center for Legislative Publications
On 1 December 2011, the Albanian Parliament amended Law No. 7764 which regulates legal procedures against foreign investors.
The central goal of these new amendments is to provide foreign investors with special protections in disputes concerning formally nationalised assets. According to the new amendments, the Council of Ministers may grant 'special state protection' to foreign investments when a judicial dispute raised by private parties threatens to impede the investor's economic activities. In particular, foreign investors in public or toursit infrastructures, energy and agriculture business shall be eligible for the described treatment.
Furthermore, the amendments prohibit domestic courts from confiscating or suspending the assets of the foreign investor's economic activity.