In a significant move to streamline the process of granting land for investment purposes, Algerian President Abdelmadjid Tebboune has mandated the introduction of additional facilitations within the specialized agency’s operational system. Granting Land for Investment.
This directive, issued during a Cabinet meeting, aims to eliminate bureaucratic and administrative complexities, thereby combating corruption and easing the tasks of economic operators.
A statement from the Cabinet meeting highlighted President Tebboune’s instruction to the newly established National Investment Agency. The Agency’s responsibilities now include the provision, conservation, and management of land pockets, sourced from both the private and public sectors. This is part of a broader strategy to ensure that these land allocations are utilized effectively, fostering real economic viability and accelerating investment.
This reformative step is seen as a major stride towards enhancing Algeria’s investment climate. By reducing red tape and ensuring a more efficient allocation of resources, the government is not only looking to attract more investors but also to establish a more transparent and efficient system. Such measures are expected to significantly boost Algeria’s economic growth, providing a more conducive environment for both local and foreign investors.
The initiative to simplify the process of granting land for investment is a clear indication of Algeria’s commitment to creating a more investor-friendly environment. By addressing the often-cited concerns of excessive bureaucracy and potential corruption, the government is making a concerted effort to reassure investors about the ease and transparency of doing business in Algeria.
The National Investment Agency, under this new mandate, is expected to play a pivotal role in identifying and managing land resources that are suitable for investment. This proactive approach in managing land allocation is anticipated to not only streamline the investment process but also to ensure that investments are directed towards sectors and projects with the highest potential for economic returns.
Moreover, these reforms are in line with President Tebboune’s broader economic strategy, which focuses on diversifying the Algerian economy beyond its traditional reliance on oil and gas revenues. By facilitating easier access to land for investment, the government is opening doors for a multitude of sectors, ranging from industrial to technological, thus fostering a diversified and resilient economic landscape
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