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March 1, 2023 | 2 years ago

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Advanced contacts with foreign investors mentioned: Towards the launch of new major projects

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In this context, Director General of the Algerian Agency for the Promotion of Investment (AAPI), Omar Rekkache, indicated at the regional symposium on investment, organized at the University Center of Tipasa under the topic “Investment for an efficient economic approach” that his agency has identified some 30 foreign investment cases, while contacts are ongoing for the launch of other projects. Rekkache said AAPI registered 29 foreign investment projects, including 11 foreign direct investments and 18 partnership projects.  “There are also advanced contacts with foreign investors, including large companies, to launch new projects in Algeria,” he added.

 

More broadly, the agency’s top official noted that the number of registered investments reached 1,175 projects, from November 2021 to mid-February. “Projects registered with AAPI since the Investment Law came into force in November 2021 represent an estimated overall investment value of more than 389 billion DA, and have created more than 30,000 jobs,” he said.  Mr. Rekkache also considered that “investment in Algeria will become very attractive for projects”, following the “revision and enrichment of the draft law on economic land defining the conditions for granting economic land under the property of the State, as dictated by  President of the Republic, Mr. Abdelmadjid Tebboune, at the Ministerial Council of 24 January.” He reiterated, on this occasion, “AAPI’s commitment to back and support investors and project promoters”.

March 1, 2023 | algeria-logo

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