The Albanian-Arab company for securities is created - How will it work and what will it be responsible for?
The Albanian government and the United Arab Emirates are creating a joint public securities printing company.
The news was given by Prime Minister Edi Rama during his visit to Baku, where he emphasized that this important project is already entering the implementation phase.
Currently, the Letter Printing Press is the only institution of the Albanian state specialized in the production of official documents with monetary and legal value. Its main activities include the printing of tickets, invoices, fiscal stamps, lottery tickets and forms with serial numbers, which are known under Albanian legislation as securities. These materials are used by various institutions and commercial entities within the Republic of Albania.
The institution operates under the supervision of the Ministry of Finance and has an experience of 30 years in this field, starting its activity as the former Military Typography. The scope of activity of the Securities Printing House includes the production of a wide range of personalized documents, including documents with serial numbers that are necessary for various economic and administrative transactions. It now seems that this institution will work in partnership with the United Arab Emirates.
Referring to data from this institution, revenues have been consistently high, with a strong financial foundation supported by ongoing contracts and technological investments. A detailed financial analysis shows an upward trajectory in terms of the company's revenue and profit. For the year 2023, this company records income in the amount of 1.5 million euros and gross profit in about 311 thousand euros. While the marginal profit is calculated at 20%.
Currently, the production, distribution and monitoring of excise tax stamps is done by the company "Sicpa Security Solutions" Albania, sh.pk, according to a concession contract which ends on December 31, 2024. And from January 1, 2025, the company "Letter Printing with Value" will be authorized to produce and distribute fiscal stamps, in accordance with the excise law.
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