Prime Minister Ayman Ben Abdel Rahman revealed on Thursday that Algeria has recorded 3,734 investment projects since the implementation of the new investment law on November 1, 2022. Speaking in response to questions from members of the National Assembly, Rahman outlined that these investment projects are worth over 1.951 billion dinars, approximately equivalent to 12 billion dollars. Importantly, these investments are expected to generate around 94,000 permanent job positions.
A New Era for Investments in Algeria
The Prime Minister emphasized that the successful implementation of the new investment law and the establishment of the Algerian Agency for Investment Promotion have paved the way for an optimistic outlook on foreign and domestic investment. “The new approach to investment is beginning to show signs of success,” Rahman stated. “Algeria is experiencing a surge in investment activities and an increased interest in direct foreign investment.”
Job Creation and Economic Stability
The 1.951 billion dinars in investments serve not just as capital infusion but also as a significant catalyst for job creation. The 94,000 permanent job positions are a step toward economic stability, as they open new avenues for the youth and reduce unemployment rates. These figures manifest the government’s commitment to not only attracting investment but also distributing its benefits across the social spectrum.
Sustaining Momentum in Challenging Times
The current global economic conditions pose various challenges, yet Algeria seems to be steering its course effectively. These promising figures point to Algeria’s resilience and the effectiveness of its new investment law in attracting both local and foreign investors. Rahman concluded that the momentum in the investment sector is a significant indicator of Algeria’s economic viability.
A Positive Outlook for the Future
The ongoing success in the investment sector undoubtedly marks a milestone for the Algerian economy. As a country rich in natural resources and human capital, Algeria is now focusing on leveraging these assets to create a more diversified and resilient economy. With this sustained interest in investing, the future for Algeria looks promising, solidifying its position as an attractive investment destination in the region.
Overall, these newly recorded investment figures highlight the Algerian government’s successful policy interventions and suggest a bright future for the country’s economy. With strategic planning and continuous efforts, Algeria seems well on its way to achieving greater heights in investment and economic growth.
