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December 4, 2024 | 1 month ago

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Algeria is attracting European investors: 27 projects worth $2.5 billion registered

The Algerian Investment Promotion Agency (AAPI) has announced the approval of 27 projects by European investors, worth $2.5 billion. According to AAPI Managing Director Omar Rekhache, this already promising figure is set to rise in the coming years, reflecting renewed confidence in Algeria's business climate.

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These statements were made on the sidelines of a meeting organized by AAPI in partnership with the European Union Delegation in Algeria. The event, entitled "Investment and Economic Diversification: exchanges on experiences in Central Europe", was attended by European ambassadors, representatives of several ministerial sectors, and heads of national institutions.

 

Promising, job-creating investments

 

Since the creation of the AAPI in November 2022, 203 foreign investment projects have been registered via the one-stop shop for major projects and foreign investments. Of these, 27 concerned investors from the European Union, involved in various sectors such as agriculture and the circular economy. These projects, estimated at 360 billion dinars ($2.5 billion), are expected to generate around 2,400 direct jobs.

 

AAPI's Managing Director emphasized that this enthusiasm is a tangible sign of the return of international investor confidence, thanks to the economic reforms initiated by the President of the Republic, Abdelmadjid Tebboune. These reforms aim to establish a transparent, attractive investment environment based on solid partnerships, as part of a diversified, sustainable economic model.

 

A favourable legislative framework and attractive incentives

 

Rekhache also recalled the key measures adopted to encourage investment. These include drafting a new investment law, which guarantees legal certainty, simplifies administrative procedures and offers benefits tailored to economic objectives.

 

At the same time, economic governance has been strengthened through digitization and improved supervision. Algeria focuses on developing industrial and logistical infrastructure to welcome investment projects in the best possible conditions while facilitating their financing.

 

A commitment to strategic partnerships

 

According to its Managing Director, AAPI is committed to establishing strategic partnerships to support sustainable development. The exchange of expertise with Central European countries was highlighted as a key lever for achieving this objective.

 

This dynamism reflects Algeria's determination to consolidate its position as a preferred destination for foreign investment while relying on far-reaching reforms to transform its economy.

December 4, 2024 | algeria-logo

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