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November 20, 2024 | 1 month ago

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Investment: 50% of the 10,500 registered projects have been launched

President Tebboune's investment target of 20,000 projects during his second term in office may well be reached sooner than expected. On Tuesday, the Algerian Investment Promotion Agency (AAPI) unveiled figures that add a new dose of optimism to the rapid achievement of this presidential objective.

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According to its Managing Director, Omar Rekkache, the Algerian Investment Promotion Agency (AAPI) has reached a significant milestone, 10,500 projects registered in just two years, with a total investment of DZD 4,339 billion and the creation of 258,000 direct jobs. Of these projects, 50% are underway and 8% are operational, reflecting a promising momentum towards the target of 20,000 projects within the next few years.

Progress in economic land management

Since February 2024, 1,913 plots of land totalling 2,191 hectares have been identified, including 782 lots (1,100 hectares) offered on the AAPI's digital platform, covering 48 wilayas. To date, 461 plots have been allocated from the 4,266 applications registered.

Measures to speed up investment

Mr Rekkache stressed the need to :

-Simplify administrative procedures, notably through the effective activation of the one-stop shop.
-Facilitate access to bank loans at lower cost.
-Improve access to economic land, by making 40,000 hectares available over 5 years, i.e. an annual average of 8,000 hectares, for feasible projects led by serious investors.

These efforts aim to strengthen the investment climate and support sustainable economic growth in Algeria.


November 20, 2024 | algeria-logo

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