Albania 1 Euro – The Government rented eight state properties for 916 new jobs

The Albanian Government has signed eight contracts in 2019 for economic subjects that have obtained actual rights over state property against a symbolic price of 1 Euro. The Albania 1-Euro programme aims to grant potential employers (businesses) state property to use, with the purpose of increasing private investments and the number of employees. In 2019, six businesses and a non-profit organization have benefited from this programme. Only one of the contractors is a foreign investor. Properties granted for use in 2019, with a rental fee of only 1- Euro and for up to 60 years, are mainly industrial objects and military objects. In total, the Government has granted 537,503 square meters of total surface for 916 new jobs, without any contractual requirements that the employers in such contracts to be Albanian citizens. The investor, who has been granted the largest area, is the Albanian company Blu Imperial . More jobs in exchange for the Albania 1-Euro project are expected to be created by the Korean company Yura Co.Ltd, which will open a company for electric parts for cars. Its investment is estimated to be 6.5 million Euros and expected to create 516 jobs. Open Corporates Albania has prepared transparent passports for the business companies that have been granted rental contracts for only 1-Euro for state property.