Category: Economy
Date: Tuesday, January 7, 2025, 5:17 PM
National Investment Projects Reach Record Highs in Algeria
Oran – The Algerian Investment Promotion Agency (AIPA) recorded over 11,780 investment projects nationwide by the end of 2024, with a declared total investment amount exceeding 4.73 billion DZD. This was stated by the agency’s Director General, Omar Rekache, during a study day titled “Algerian Television: A Platform for Development and National Product Promotion,” organized by the Algerian Public Television Corporation.
According to Rekache, the number of projects registered at the agency’s one-stop shops by December 31, 2024, reached 11,788. These projects promise to create 285,000 job opportunities, with 218 of them involving foreign parties, including 82 direct foreign investments and 136 partnerships.
Rekache emphasized that these statistics reflect growing trust among investors and project holders, both local and international. He highlighted the agency’s ongoing efforts to provide essential conditions, such as access to suitable land, to transform these investment intentions into tangible projects.
Milestones and Ambitions
These developments represent the beginning of the “fruits of reform,” according to Rekache. The agency is intensifying efforts to meet the ambitious target set by President Abdelmadjid Tebboune: achieving 20,000 investment projects within the next five years.
Rekache elaborated on the deep reforms initiated under the president’s directives, aimed at improving the investment climate and building confidence among economic stakeholders to foster economic growth and achieve developmental goals.
Key Reform Pillars
The reforms are structured around three main pillars:
- Legislative Clarity and Stability: Ensuring transparent and stable regulations.
- Streamlined Processes: Simplifying procedures to provide efficient, transparent, and equitable services to investors.
- Strategic Alignment: Aligning investment promotion policies with the country’s strategic goals.
Future Directions
The agency has moved into the second phase of reform implementation. Instructions from the president prioritize expanding the agency’s real estate portfolio to meet growing demand, alongside periodically updating regulatory frameworks to align with economic developments.
Efforts are underway to make the one-stop shop fully operational, where investors can obtain all necessary permits to bring their projects to life. Services such as financing, banking, legal documentation, and enterprise establishment will also be integrated into these centers.
In a notable development, Rekache announced that exclusive issuance of construction and operational permits through the one-stop shop will begin in the coming weeks.
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Author: Nor-Eleslam
