Minister of Culture and Arts, Souria Moulouji, announced preparations for a framework agreement with the Professional Association of Banks and Financial Institutions, incorporating a series of proposals aimed at overcoming obstacles for project holders. This initiative intends to facilitate bank loans at subsidized interest rates for investors and producers in the cinema and cultural industries.
During a national meeting organized yesterday on investment mechanisms in the cinema sector, with participation from the Algerian Agency for Investment Promotion, Minister Moulouji highlighted that the forthcoming cinema industry law would establish rules and mechanisms that meet professionals’ expectations and align with the state’s economic policies.
Moulouji emphasized the project’s goal to explore cinema sector investment mechanisms, building on previous efforts through discussions with experts and specialists based on principles of collaboration, consultation, and expert guidance.
The minister recalled that since 2020, her sector has been welcoming and supporting numerous investment project holders in the cinema industry. This national meeting followed several discussions with the Algerian Agency for Investment Promotion’s officials to study and debate various mechanisms for granting land for cinema investment projects and the agency’s provided incentives and encouragements.
Moulouji also mentioned ongoing collaborations with the Ministry of Finance through joint committees to review financing mechanisms and support for film production, private cinema operation, and providing tax facilities and banking incentives for investment.
The General Director of the Algerian Agency for Investment Promotion noted that the meeting was an opportunity to engage with cinema industry stakeholders, affirming the agency’s commitment to providing support and facilitation to investors in this field. This includes tax advantages and quasi-tax benefits offered by the new investment law, as well as access to economic property for project execution.
For more cultural and investment news, visit dzwatch.net. Support Film Production Agreement.
