The Albanian government has officially designated a new Technology and Economic Development Area (TEDA) in Vlora, creating the “VLORË TEDA/RAMS FREE ZONE” on a site covering more than 885,000 square meters.

The Council of Ministers approved the decision following a proposal from the Minister of Economy and Innovation. The decision defines the zone’s boundaries, layout and entry and exit points.

The new development zone will host a range of activities, including logistics and innovation industries, industrial technologies, automation and artificial intelligence, light metal processing, non-polluting surface treatments and renewable energy projects.

Furthermore, the government granted the project an operating period of 35 years, with the possibility of extension up to 99 years.

To support the investment, the Ministry of Economy and Innovation will make state-owned land available within the designated area in Vlora Municipality. The land will be provided under a symbolic lease rate of one euro per contract as part of Albania’s strategic investment support framework.

Meanwhile, RAMS Albania will develop the project under a special investment procedure. The company received the status of strategic investor and will oversee the development of the economic zone.

In addition, the government revoked several previous agreements related to the earlier industrial park project in Vlora, clearing the way for the new initiative.

The Ministry of Economy and Innovation, the State Cadastre Agency and the Albanian Investment Development Agency will coordinate the implementation of the project.

The decision will enter into force after its publication in the Official Gazette.

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