KAYO and the private sector create 400 jobs - Strategic partnership for the production of military uniforms "Made in Albania" is created
The government has approved the terms of negotiation of the state-owned company "KAYO", jsc, with private companies for the production and trade of military uniforms and accessories, for use by security structures.
According to the decision, the company "KAYO", sh.a., will negotiate and accept a participation of no less than 40% of the shares in the joint venture, which it will create with a private company. Also, "KAYO", will contribute to the new commercial entity with real estate, in the amount of no less than 20,000 m², which will be given to the joint venture for use, without the right of alienation.
Meanwhile, the state-owned company "KAYO", jsc, during the negotiation process, in any case ensures from the entity with which it negotiates, an investment value of no less than 15 million euros in a period of 3 years and the employment of no less than 400 employees in a period of 3 years.
It will also need to provide modern technology for the production of uniforms according to the standards of the Armed Forces and other security structures, as well as ensure the distribution network in case of export.
Referring to the decision, the company "KAYO", sh.a., ensures from the other party during the negotiations that the administrators of the company, which will be created by the two companies, will be selected with the agreement of the company "KAYO", sh.a.
"KAYO" will have veto power in strategic decision-making, representation in governing bodies and the main role in appointing administrators.
The new company, which will be established from this partnership, will be authorized to directly supply the Armed Forces with uniforms and military equipment.
Your opinion
May 30, deadline for farmers - Funds in agriculture, high interest in free oil
Farmers across the country will have until May 30 to apply for agricultural funding, and will then go through a screening and selection......
Military reservists return to service - Government approves procedures and rules
The Council of Ministers approved the decision to determine the procedures and rules for the return of reserve military personnel to active service in the......
Countries with the highest and lowest pensions in Europe - How does Albania rank?
Pensions are the main source of income for older people in Europe, according to the OECD report "Pensions at a Glance 2023". In many European countries,......
Need help with the housework? - This robot uses artificial intelligence to clean everything!
For those who don't like cleaning or tidying up their homes, help may now come from artificial intelligence. Robotics researchers at Stanford University are......
Dollar and Pound Recover - How Much Are Francs and European Currencies Exchanged Today?
The US dollar has recovered points this morning after, compared to the increase it recorded yesterday, it strengthened again this Thursday, being bought......
Court blocks Trump tariffs - "Congress has exclusive authority to regulate trade with other countries"
A U.S. trade court blocked President Donald Trump's tariffs from taking effect in a sweeping ruling, arguing that the president exceeded his authority in......
Extreme heat and global warming - Scientists warn of new records by 2030
Scientists are warning of record, extreme heat and a growing risk of exceeding key global warming thresholds by 2030. Prepare for several years of even......
Uncertainty about greenhouse gas emissions! - EU: We are on track to achieve climate targets by 2030
The European Union is on track to meet its climate targets by 2030, but uncertainty remains over the bloc's ambitions to cut greenhouse gas emissions much......
