1.18 billion euros for the transformation of Albania into an innovation center / Priorities of the strategy? Food chain, sustainable tourism and renewable energy
About 1.18 billion euros will be devoted to the transformation of Albania into a center of innovation and sustainable development. A draft smart specialization strategy has been published for public consultation, which is designed to develop areas with high potential for growth and innovation, including strategic sectors such as renewable energy, sustainable tourism and the healthy food chain.
The main priorities of the strategy are the promotion of innovation and technological development, the strengthening of human capital and the attraction of foreign investments. The strategy aims to create an attractive environment for foreign investors in high-potential sectors and strengthen ties with the diaspora, which can contribute knowledge and financial resources to the country's development.
By investing in research and development, digitization and the application of new technologies, the strategy aims to improve the competitiveness of economic sectors and create a knowledge-based economy. Also, improving the quality of education, professional training and adapting curricula to the needs of the labor market is expected to create a qualified workforce ready for the challenges of the modern economy.
Of the total budget of 1.18 billion euros needed for the implementation of the strategy, approximately 424 million euros will be provided by the state budget, approximately 266 million euros from EU funds and 143 million euros from other international donors.
About 448 million euros or 35.5% of the budget will go to the food chain area which focuses on the development of agriculture and fisheries to provide healthy and sustainable food. Nearly 361 million euros will be devoted to the development of research and innovation centers that unite academia and the private sector, while 179 million euros will be devoted to the development of a tourism industry that includes the preservation of Albania's cultural and natural heritage.
The National Smart Specialization Strategy 2024-2030 has been drafted in accordance with the objectives of EU integration.
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