Date: Tuesday, December 24, 2024
Category: Economy
Title: Algerian Investment Promotion Agency Launches Second Phase of Reforms
Location: Algiers – The Algerian Investment Promotion Agency (AAPI) has officially initiated the second phase of its reforms, focusing on enhancing the efficiency of the One-Stop Shop system and improving the allocation of investment land. This announcement was made by AAPI Director-General Omar Rekach during the Government-Walis meeting at the International Conference Center in Algiers, inaugurated by President Abdelmadjid Tebboune.
Progressing with Reforms
Rekach highlighted the significant strides made during the first phase of reforms, overcoming numerous obstacles. He stated, “The time has come to accelerate progress,” emphasizing the operationalization of a comprehensive One-Stop Shop where investors can access all services in one location, eliminating the need to navigate multiple administrative entities.
To ensure efficiency, AAPI collaborates with key sectors such as housing and the environment to amend regulatory provisions, aligning them with the principles of granting approvals directly through the agency’s One-Stop Shops.
Transparent and Targeted Investments
In advancing its reform agenda, AAPI has improved its investment evaluation framework. These adjustments aim to prioritize serious investors and economically viable projects, ensuring transparent and equitable access to investment land.
Additionally, AAPI has revamped the structure of its Board of Directors, raising representation levels for sectors involved in investment processes. The board now oversees:
- Defining priority activities for each region.
- Allocating land resources accordingly.
- Ensuring equitable project distribution across Algeria’s provinces in line with their specific characteristics.
Rebuilding Trust and Setting Ambitious Goals
Rekach noted the resurgence of trust among both domestic and international investors, attributing this to Algeria’s strong political will and tangible progress on the ground.
With the initial phase successfully completed, AAPI has set ambitious targets, aiming to realize 20,000 investment projects over the next five years. This goal includes:
- Expanding investor confidence.
- Addressing their concerns and providing necessary resources.
- Allocating approximately 5,000 hectares of prepared land annually for industrial and economic zones, as authorized by the President.
Empowering Local Authorities
AAPI has also emphasized a consultative approach, empowering local authorities to play a central role in attracting investments tailored to their regions’ unique characteristics. Structured pilot projects have already been directed to several provinces, demonstrating this strategic alignment.
The reforms and initiatives set forth by AAPI reflect Algeria’s commitment to fostering a dynamic investment climate and promoting sustainable economic growth.
Source: DZWATCH.DZ
Author: Nor-Eleslam
