TIRANA, July 30 – The government approved measures to support companies operating in Albania’s defense industry, Defense Minister Ermal Nufi said.
Nufi said the latest Council of Ministers meeting approved 5 acts related to the Ministry of Defense. One of the main decisions changes the Value Added Tax law to ease procedures for companies and joint ventures in the defense sector.
The minister said the measure will create better conditions for investment and help bring advanced technologies to Albania. He added that the decision will support the development of factories and companies that produce military equipment.
Meanwhile, Nufi said the fiscal relief will increase production capacities and help the Armed Forces and other security forces receive equipment more quickly.
He said Albania will soon present further details on the speed and effectiveness of locally produced military equipment. Nufi added that domestic production will improve supply capabilities and strengthen the country’s defense industry.
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