Algiers – The Algerian Investment Promotion Agency (AAPI) has reported a significant number of investment project declarations since it began operations in November 2022. According to AAPI Director General, Omar Rekkache, the agency has registered over 19,000 investment projects with a total value of approximately 8,242 billion Algerian Dinars, equivalent to around 61 billion US dollars.
Speaking at a media event on Tuesday, Rekkache stated that the 19,045 projects were registered through decentralized single windows and a single window for major projects and foreign investments between November 1, 2022, and December 21 of this year.
Job Creation Expected
The AAPI anticipates that these projects will create more than 470,000 new jobs across various sectors. Rekkache highlighted the encouraging rate at which these projects are progressing towards implementation, indicating a positive dynamic in realizing investments on the ground.
Investor Confidence Grows
Rekkache emphasized that these results demonstrate growing confidence among both local and foreign investors in Algeria’s business climate. He attributed this positive trend to the comprehensive reforms initiated by President Abdelmadjid Tebboune, aimed at improving the investment environment and simplifying administrative procedures.
Algeria: An Open Investment Landscape
The Director General described Algeria as an “open workshop” for productive projects in various economic sectors and across all regions of the country. This broad investment activity is expected to contribute to balanced regional development and job creation, aligning with the government’s economic policy priorities.
