Donald Trump's son-in-law is officially a strategic investor in Albania. At the end of December, while Albanians were focused on celebrating the new year, Edi Rama signed the grant of strategic status to Jared Kushner's company, in connection with the project to build a tourist resort on Sazan Island.
The investment value of the tourist project "Tourist Resort - Sazan Island" meets the criteria provided for by the legislation for strategic investments and is expected to be 1.4 billion euros. The form of state participation in this investment will be realized through the creation of a joint legal entity.
Decision of the Strategic Investment Committee
It concerns an area of 562 hectares of Sazan Island, where 45 hectares are destined for the construction of elite accommodation structures, high-standard residences, tourist marinas, gastronomic and recreational areas. And all these constructions will be made in the western part of the island, and nothing will be visible from Vlora.
Albania's largest island is part of the "Karaburun-Sazan" National Marine Park, and the decision requires that the water surface around the island be left untouched, including natural monuments such as the 'Devil's Throat Coral Barrier' and the 'Sazan Reef'.
Obtaining strategic investor status grants the company several benefits and advantages. The decision specifies that the company will be entitled to expedited procedures for obtaining permits and licenses, including fiscal incentives.
In accordance with the legislation on strategic investments, the company will be entitled to benefit from fiscal support measures, such as exemption from income taxes and VAT for goods and services necessary for the implementation of the project.
Decision of the Strategic Investment Committee
The government aims to create at least 1,000 new jobs and bring development to the city of Vlora through the implementation of this project. The construction of this resort seems to be exclusive to the Jared Kushner company, as the decision does not foresee the delegation of powers to third parties directly, but only with the approval of the Albanian side.
Any transfer of shares or participation of third parties in the investment will be limited and will require prior approval.
Decision of the Strategic Investment Committee
The granting of this status was made without much fanfare by Albanian institutions on December 30, 2024, 3 weeks before the inauguration of President Trump, where Kushner's company has set its sights on both Belgrade and Tirana. Given that the island of Sazan is owned by the Ministry of Defense and part of the military expansion plan, the decision of the Strategic Investment Committee was preceded by a presidential decree that removed this area from the military expansion plan. (A2 Televizion)
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