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State-owned company for the production and trade of weapons. What will be her responsibilities?

2024-08-10 11:21:17Biznes SHKRUAR NGA REDAKSIA VOX

State-owned company for the production and trade of weapons. What will be her

Albania will have a state company, which will be called "KAYO" sh.a., which will be responsible for the production, demilitarization and trade of weapons, ammunition, equipment and military technologies.

The law published in the Official Journal and which enters into force at the end of this month, determines that during the development of its activity, the Society also pursues economic and commercial interests related to the military industry.

Referring to the law, as far as duties and responsibilities are concerned, it is determined that the company efficiently develops its activity, contributing to the establishment, development and strengthening of the industry of the production and trade of arms, in order to ensure the needs of the Armed Forces and those security in the Republic of Albania, as well as the realization of economic profit. Produces and supplies the necessary equipment to the Armed Forces and other responsible security structures to guarantee the protection and security of national interests. Builds, develops and improves domestic capacities to produce and supply the Armed Forces and other responsible security structures with equipment necessary for their operations.

It mobilizes state and/or private capital in order to develop its activity. It promotes investments in technology and innovation for the production, use, trade of weapons inside and outside the country. It cooperates with various state and private, national and international entities, for the development of the object of its activity. It finances or co-finances projects in the field of defense and national security or companies established in cooperation with private and/or public entities established for their realization.

Also, the company has the task of preparing a detailed business plan in relation to the national security and defense policies and international policies, applicable to the production and trade of weapons.

Through the creation of a state company, the use of inherited industrial capacities is intended, as well as the integration of new technologies and innovations into work processes.

On the other hand, the first step towards the revitalization of the military industry is taken. In this way, Albania strengthens its strategic position in the region, becoming a more important actor in the field of defense and security, aligned with the objectives of the North Atlantic Alliance.


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