Investment opportunities in Algeria

New legislation on investment, focus of 2nd Algeria Investment Conference
 
ALGIERS-The second Algeria Investment Conference focused Wednesday on promoting investment in Algeria, the new investment law, and the opportunities it brings for industrialists and domestic and foreign project holders.
The opening ceremony was attended by Ministers of Industry Ahmed Zeghdar, Post and Telecommunications, Karim Bibi Triki, and Tourism and Handicrafts, Yacine Hammadi.
The Minister of Industry stressed that the approach of the Government to improving the business climate is based on strengthening the national industrial base through the protection of local products and the development of SMEs.
It also aims to modernize and reorganize institutions in the industry sector, including those operating in the field of quality, accreditation, standardization, and industrial property, he continued.
Referring to the new law on investment and its implementing regulations which entered into force last September, Zeghdar said the law will give a "new impetus" to investment and the business climate promotes sectors with high added value and strengthens the competitiveness of the national economy.
Regarding the industrial land, the minister said that the authorities are currently working under the guidance of the President of the Republic Abdelmadjid Tebboune to adapt the mechanism governing the investment.
He also announced the upcoming creation of "national public bodies responsible for land for investment" in parallel with the operation underway to clean up lands and recover unexploited ones.
For his part, Ahmed Berrichi, Director of the Single Window, Major Projects and Foreign Investment at the Algerian Investment Promotion Agency (AAPI), said that the investment law abolished some measures that were very restrictive to investment, including the rule known as 49/51%, which was repealed except for strategic projects under international partnerships, such as hydrocarbons, mining, natural resources, and pharmaceuticals industry.
Moreover, the new law on investment brings further transparency through a computer platform for the processing of investment files and the automation of the granting of benefits to project holders, according to an assessment grid, he explained.
According to Berrichi, the Greater Arab Free Trade Area (GAFTA), the African Continental Free Trade Area (AfCFTA) and the Association Agreement between Algeria and the European Union (EU) are opportunities for the national economy and for investors to strengthen their presence in these markets, stressing that the authorities in charge of investment are doing "a communication work" in Algeria and, internationally, around the investment opportunities offered by the Algerian economy.
 
 
Promising investment opportunities in new southern provinces
 
EL-MEGHAIER (Algeria)- The minister of Interior, Local Authorities and National Planning, Brahim Merad, said Tuesday that investment prospects in the new ten provinces in the country's south were "very promising."
In a news conference on the sidelines of a working and inspection visit to the province, Merad stressed the "importance of involving local officials in providing support for investment in the province, which represents a promising future for the economy if properly managed."
The minister noted that the creation of 10 provinces in the country's south was carried out in line with the programme of the president of the Republic, Abdelmadjid Tebboune, aimed at generating investment for economic take-off.
With respect to the development of agricultural land in the southern provinces, mainly Touggourt, El-Menia, El-Meghaier and Timimoun, Merad said the State was ready to provide the necessary support.
He added that all relevant bodies would be involved to achieve the best results possible.