The Investment Corporation has been overthrown by President Ilir Meta, who returned the draft law to parliament for discussion.
The Head of State explained that in reviewing the draft it was found that this law contradicts constitutional principles and provisions, as well as violates the principle of legal certainty and the fundamental right to property.
The President also considers that the adoption of the law "On the Albanian Investment Corporation" as an unjustified legislative initiative.
This is because the creation of the Albanian Investment Corporation as a joint stock company can be achieved with the current legal norms in force and the enactment of the law is not needed as there is no identified legal vacuum to fill.
Among other things, the Presidency's legal experts have found that neither of the two recommendations by the Committee on Productive Activity have been taken into account.
It also explains that the purpose was to treat the Investment Corporation with specific legislation that violates constitutional principles of equality before the law.
According to the President, the draft law could create a premise for misappropriation of public property or infringe on private property rights.
If the corporation is controlled in the majority by a private shareholder, then the development of the project or agreement on rights and obligations will favor private rather than public interests.
The development and investment of state property is of high state interest, and the decision-making control over this new commercial entity that is alleged to be established must always be the exclusive property of the state, as any other part of the national public interest.
Based on these findings, the institution of the President has returned the Investment Corporations Bill in order for the Assembly to reassess whether or not the country needs a law of this nature.
If so, this law should be amended according to the reasons given above.
Pёrktheu: Paola Pupla