Algiers – The Algerian Investment Promotion Agency (AAPI) has announced the registration of over 7,600 projects aimed at substituting imports with locally produced goods. This initiative is projected to create more than 270,000 new jobs across various sectors.
According to a statement released by the AAPI on Wednesday, these projects represent a significant step towards strengthening the national economy and reducing reliance on foreign imports. The focus is on bolstering domestic production capabilities across a wide range of industries.
“These projects reflect a growing confidence in Algeria’s potential to become a self-sufficient producer of goods and services,” stated a representative from the AAPI. “The government is committed to providing the necessary support and incentives to ensure the success of these ventures.”
The initiative aligns with the government’s broader economic diversification strategy, which aims to reduce dependence on hydrocarbons and promote sustainable growth in other sectors. By encouraging local production, the government hopes to create a more resilient and competitive economy.
The AAPI is playing a key role in facilitating these investments by providing guidance, streamlining bureaucratic processes, and connecting investors with relevant stakeholders. The agency is also working to attract foreign investment and technology transfer to further enhance the competitiveness of Algerian industries.
The success of these projects will be crucial in achieving the government’s ambitious economic goals and creating a more prosperous future for Algeria.
