American Chamber of Commerce organizes Business Forum on Property Issues: A Unified Document on Business Issues that require solutions

The American Chamber of Commerce in Albania organized a Business Forum dedicated to property issues, current problematics, business expectations and potential solutions.

AmCham President, Mr. Enio Jaco, General Director of State Agency of Cadaster, Mr. Artan Lame, Chairman of Regulatory, Legal & IPR Committee, Mr. Kledi Kodra, and a large representation of AmCham members as banks, telecommunication businesses and representatives of the Investment Council were present at the event.

AmCham President, Mr. Enio Jaco opened the forum by pointing out the importance of a better doing business climate for foreign investors, especially in property registration and rights enforcement as a key issue that investors are facing.

“Property registration is a sensitive issue for AmCham. It is not only one of the five top priorities of AmCham Business Agenda, but also part of regular lobbying efforts of the Regulatory Affairs & IPR Committee. Experts in both Regulatory, Legal & IPR and Tax & Customs Committees worked intensively in preparing a document for the investment Council on key issues the businesses seek solutions. We believe that by joining efforts and arguments, we will become more influential in bringing a definitive and sustainable solution to the current property situation, “stated Mr. Jaco.

During his speech, the General Director of the State Agency of Cadaster, Mr. Artan Lame introduced the measures that the institution is undertaking to address property issues, emphasizing the need for a system reform.

“The first step is the unification of institutions and legislation as one in order to address property issues; second step is the termination of transitional processes involving legalization, property restitution and the remittance of the everlasting ownership process that is the property sale-purchase process and ownership transfer.

Draft Law “On the Treatment of Property and Finalization of the Process of Compensation of Property” is currently in discussion in the Parliament. The third step is the fundamental reformation of the Immovable Property Registration Office, which means reforming its systems and digital mapping reform.

AmCham members addressed important issues affecting their business operations, such as deadlines for initial registration for land plots, functioning of Land Distribution Commissions, suspension of property registration at the seaside, launch of the investment fund for strategic areas and projects, and property tax application with 2019 as implementation date.

American Chamber of Commerce and the State Agency of Cadaster agreed to establish a priority service to serve AmCham members or similar Chambers on common problematics. In addition, AmCham recommendations sent to the Investment Council will pass to the State Agency of Cadaster for further evaluation.