Since November 2022, Algeria has witnessed a significant surge in investment activity, with over 19,000 new projects registered, according to the Algerian Investment Promotion Agency (AAPI). The total value of these projects is estimated at 8,242 billion Algerian dinars, equivalent to approximately $61 billion USD.
AAPI Director General, Omar Rekkache, announced the figures, stating that a “very satisfactory” percentage of these projects have already entered the implementation phase. The announcement was made during a media information day organized by the Algeria Press Service in collaboration with AAPI, focusing on the role of national media in promoting investment and the attractiveness of the national economy.
Rekkache explained that the 19,045 projects were registered through decentralized single windows and a dedicated single window for major projects and foreign investments, spanning from November 1, 2022, to December 21 of this year. These projects are expected to create over 470,000 jobs across various sectors.
This impressive outcome, Rekkache emphasized, reflects the confidence of both domestic and foreign economic operators in the comprehensive investment reforms initiated by President Abdelmadjid Tebboune. He added that Algeria has become an “open workshop” for productive projects across various sectors and regions, contributing to balanced regional development and job creation, an area of significant focus for the President.
The AAPI aims to streamline investment procedures and foster a more attractive business environment, playing a crucial role in Algeria’s economic diversification efforts. The agency hopes that the recent surge in investment will continue, contributing to sustainable economic growth and prosperity for the nation.
