40 TOURISM LAW IN EUROPE In order to be considered as strategic, the proposed investments shall meet cumulatively the following criteria51: a) for the investors/projects to be awarded the status of “Strategic Investment/Investor - Assisted Procedure”, equal to or more than 5,000,000 € (five million euros), and at the same time must create, at a minimum, 80 new jobs; b) for the investors/projects to be awarded the status of “Strategic Investment/Investor - Special Procedure”, equal to or more than 50,000,000 € (fifty million euros). Under the provisions of Law no. 55/2015 “On strategic investments in the Republic of Albania”, a “Strategic potential project” is considered a potential investment project of public interest with a strategic impact on the development of the country, which is classified as such from the time when the initiative to develop the project is taken by the project’s promoter until the time when the status of “Strategic investment /investor” 52 is obtained. Projects obtaining the “strategic potential project” status are supported through the implementation of favorable, facilitating or accelerating administrative procedures, and provision of assistance and services to investors53. These projects are approved by the Strategic Investment Committee after the procedures and preliminary assessments have been conducted by the Albanian Investment Development Agency54. The Decision of Council of Ministers (DCM) no. 1024, of 16 December 2015, “On the approval of projects with “Strategic Potential Project” status”, regulates the administrative procedures for obtaining the “strategic potential project” status. According to these procedures, the application for obtaining the “strategic potential project” status is the initial step of administrative procedures for the assessment of strategic investments. This status is proposed from the time of the initiative to draft the project and, if approved, lasts until the status of “Strategic investment/investor, assisted procedure” or “Strategic investment/investor, special procedure” is obtained. The Strategic Investment Committee may decide, on a case-by-case basis, the maximum timeframe for the duration of the “strategic potential project” status in favor of the proposer as an incentive mechanism for closure of administrative 51 Idem. 52 DCM no. 1024, of 16 December 2015 “On the approval of projects with “Strategic Potential Project” status”. 53 Idem. 54 Idem.
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