Algiers – Over 7,000 projects aimed at replacing imports with locally produced goods are underway in Algeria, according to the Algerian Investment Promotion Agency (AAPI). The initiative represents a significant push towards bolstering domestic production and reducing reliance on foreign markets.
The AAPI revealed that more than 7,600 investment projects are specifically geared towards import substitution. These projects are expected to generate over 270,000 direct jobs across various sectors.
The total investment value of these projects is estimated at $27.4 billion. This substantial financial commitment underscores the government’s determination to transform Algeria’s economic landscape.
Among the notable projects are seven large-scale tire manufacturing ventures, representing an investment of over $1.28 billion. These facilities are projected to create 7,259 jobs and have an annual production capacity of 20 million units, with approximately 5 million units designated for heavy vehicles.
Furthermore, the AAPI has registered 158 projects focused on manufacturing spare parts. These projects represent a total investment of nearly $373 million and are expected to create approximately 7,994 jobs, strengthening the industrial subcontracting network and increasing the rate of local integration.
The AAPI emphasized the importance of enhanced coordination among economic stakeholders, as well as strengthened collaboration between government ministries and production enterprises. This collaboration is crucial for accurately identifying the needs of the national economy and directing investments towards high value-added activities.
The agency also advocated for a new approach based on in-depth analysis of local production capabilities, taking into account cost factors, raw material availability, technological potential, and national competencies. This approach aims to ensure effective and sustainable import substitution.
Ultimately, the goal is to prioritize sectors capable of meeting domestic demand, fostering a more resilient and self-sufficient Algerian economy.
