Algiers, Algeria – The national forum focusing on “Legal Security and its Impact on Economic Development” concluded its proceedings this Saturday evening in Algiers. The forum brought together legal experts, economists, and policymakers to discuss critical issues related to fostering a stable and predictable legal environment conducive to economic growth.
Participants emphasized the urgent need to modernize the legal framework governing commercial activities. A key recommendation emerging from the forum was the swift enactment of the new Commercial Code. This update is deemed essential to effectively address the rapid economic transformations currently underway and to align Algeria’s legal structures with contemporary business practices.
Furthermore, the forum highlighted the importance of alternative dispute resolution mechanisms in promoting investor confidence and streamlining commercial transactions. To this end, participants strongly advocated for the establishment of a dedicated arbitration center. This center would serve as a neutral platform for resolving commercial disputes efficiently and effectively, thereby reducing reliance on traditional court systems and fostering a more business-friendly environment.
The forum’s discussions also touched upon the broader implications of legal security for attracting foreign investment and stimulating domestic entrepreneurship. A clear and consistent legal framework is seen as a fundamental prerequisite for encouraging both local and international businesses to invest in Algeria’s economy. The recommendations put forth during the forum are expected to inform future policy decisions aimed at strengthening legal security and promoting sustainable economic development across the nation.
The closing session featured a summary of the key findings and a commitment from relevant authorities to carefully consider the recommendations in upcoming legislative and regulatory reforms. The event marks a significant step towards creating a more robust and predictable legal environment that supports Algeria’s economic aspirations.
