Technical consultation on the draft law “On the Development of Micro, Small and Medium Enterprises”

June 29th, 2021

Tirana, 29 June 2021 / The Secretariat of the Investment Council, in cooperation with the Ministry of Finance and Economy, organized a technical consultation on the draft law “On the Development of Micro, Small and Medium Enterprises”. The consultation was held following the Investment Council’s recent meeting “On the Consultation of the New Draft Strategy for Business and Investments Promotion 2021-2027”, and in accordance with the Investment Council’s established mission and tradition of holding public consultations on draft laws related to the business climate at the technical level. Twenty-five participants attended the meeting, mainly representatives of chambers and business associations, law and financial consulting firms, and development partners interested in the new legal framework for enterprises.

At the opening, the participants were introduced to the novelties and importance of the new draft law by the Deputy Minister of Finance and Economy, Mr Besart Kadia, and other representatives of the MFE. The debate centred on constructive comments and suggestions regarding:

  • The need for improvement in some definitions in the law;
  • The need to establish effective coordination mechanisms between institutions at the central and local level for MSME support measures and programs;
  • Sharing information to MSMEs about their classification and dedicated support programs;
  • Resizing the proposal for the establishment of the Enterprise Advisory Council, to establish partnerships between institutions and executive agencies on the one hand and enterprises or business associations/chambers on the other;
  • Clarification of whether or not farmers are included in the support schemes formalized, including Agricultural Cooperation Societies;
  • The need to consolidate the administrative capacity of institutions to enable the requirements provided by law, etc.

The Secretariat’s comments and those of the participants who contributed to this consultation process will be submitted to the MFE and published on our website at this link.

Investment Council is supported by the Ministry of Finance and Economy, the EBRD and the Swiss State Secretariat for Economic Affairs (SECO)

Albanian Investment Council