Algiers – Algeria’s Prime Minister emphasized the critical role of legal security in attracting investment and fostering a competitive economy during the opening of the National Forum on ‘Legal Security and its Impact on Economic Development’ today.
The Prime Minister stated that strengthening legal security is a cornerstone of building a robust, competitive, and sustainable national economy, capable of attracting investment, stimulating initiative, and promoting innovation.
He highlighted that the forum, held under the patronage of President Abdelmadjid Tebboune, reflects the state’s strategic vision to establish a stable and transparent legal environment. This environment aims to encourage economic activity and provide the necessary confidence for both national and foreign investors, thereby enhancing Algeria’s position as a promising investment destination at regional and international levels.
The Prime Minister noted the comprehensive reforms undertaken by the state, including the revision of the legal and institutional framework for investment, the enhancement of economic real estate, and the reform of the banking and financial system. These reforms also include updating the public procurement law and placing managers at the heart of the development process by enshrining the principle of protecting state executives and decriminalizing management actions.
‘The rapid transformations in the global economy necessitate that countries adopt new approaches based on a balance between economic efficiency and legal guarantees,’ the Prime Minister stressed. He affirmed that legal security is no longer merely a complementary element to development but a structural condition for achieving and sustaining it. He further emphasized that investment is impossible without trust, and trust is impossible without clear laws and an independent, efficient judiciary.
In this context, he underscored the central role of justice in supporting economic activity by providing legal reassurance and ensuring the continuity of projects, making the judiciary a genuine partner in developmental construction. This is reinforced by the reforms undertaken in the justice sector, both in terms of strengthening its independence and modernizing its working mechanisms and improving its efficiency.
