"State property generates revenue for the budget" - Ibrahimaj: Investment Corporation, based on best European practices
The Minister of Economy and Innovation, Delina Ibrahimaj, during an interpellation in Parliament requested by Democratic MP Jorida Tabaku, answered questions regarding the Albanian Investment Corporation.
Ibrahimaj stated that this Corporation is based on best European practices and brings revenue to the state.
"Its goal is to be at the service of entrepreneurs and to create a model that already works in Europe, where all public assets are used in a better and more sustainable way to generate income for the state. The corporation is subject to monitoring by the Supreme State Audit and its activity has had performance control every year since its establishment. The tasks left by the Supreme State Audit Office have been addressed and carried out with dedication. With the Investment Corporation, the state is no longer a passive manager, but an active one. If until that moment the property was sold at a reference price, now the state behaves as an entrepreneur. It is a model where state property is used to generate investments and increase the value of state property ," said Ibrahimaj.
Further, the minister provided figures on the projects developed by the investment corporation.
"It takes a property that is a degraded asset, in partnership with the private sector it develops it, the state benefits, for example, a new and modern stadium, a large underground parking lot and office space. So it gives 15 thousand m2 and receives in return a stadium with 14 thousand seats, money and buildings worth 40 million euros. In total, the Corporation has made available, through government authorizations, about 100 thousand m2 of land, which if sold by the state, would provide 28 million euros. Through the Corporation, they enable full financing of public projects, already negotiated with the private partner, in a value of 420 million euros, as well as a 44 million euro contribution to the Corporation ," said Ibrahimaj.
The Albanian Investment Corporation was established in 2019 and has been operating for more than 6 years.
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