Monthly Archives: October 2024

October 8^th, 2024

The Algerian Investment Promotion Agency, in cooperation with the Wilaya of Oum El Bouaghi, organized a regional forum on investment on Tuesday, October 8^th , 2024, at the Grand Conference Hall of Larbi Ben M’hidi University, under the theme: “Oum El Bouaghi: Your Gateway to Successful Investment.”

The forum’s opening was overseen by the Director General of the Agency, Mr. Omar REKKACHE, and the Wali of Oum El Bouaghi, Mr. Aissa AISSAT, in the presence of the Walis of Khenchela, Souk Ahras, and Tebessa, as well as directors general , public and private institution executives, representatives from ministerial departments, state institutions, economic operators, professors, researchers, and experts.

In his opening speech, the Director General stressed the significant importance the President of the Republic placed on investment, upon which the reforms of the investment system were founded. These reforms are built on three main pillars aimed at instilling trust among both national and foreign economic operators:

• Ensuring the stability of the legal and regulatory system;
• Simplifying procedures through the widespread adoption of digital technologies, which would eliminate all forms of bureaucracy and favoritism, and promote transparency, especially in directing incentives such as investment-directed land. The Investor’s Digital Platform, as the exclusive tool for treating land requests, has already generated positive results.
• Adapting the investment promotion strategy to the major orientations of the country, derived from the President’s commitments and the government’s action plan.

In the same context, the Director General shared the latest statistics regarding registered projects. From November 1^st, 2022, to September 30^th , 2024, a total of 9684 projects were registered with a declared investment amount exceeding 4170 billion Algerian Dinars, expected to create more than 240 000 direct jobs. Among these, 176 projects involve foreigners (63 foreign direct investments and 113 partnerships between local and foreign investors from various nationalities).

The Director General emphasized that these projects are not just statistical data but are becoming a reality, most of them already in the implementation phase, and that the Agency continues to support project holders to ensure the actual fulfilment of these investments on the ground, contributing to the President’s goal of achieving 20 000 implemented investment projects and creating 450 000 direct jobs. He also expressed confidence that this target is within reach, as the Agency is the barometer that measures the extent of project holders’ desire to engage in this endeavor and their increasing enthusiasm for bringing projects to life.

As for the Investor’s Digital Platform, the Director General revealed that since its launching on February 8^th, 2024, 660 land assets were displayed across 47 wilayas. As of October 2^nd , 2024, a total of 3992 requests were submitted, resulting in the issuance of 391 land granting decisions.

During the forum, a discussion session was held with the participation of the Director General, the Wali of Oum El Bouaghi, and officials from both the Agency and the wilayas’ directorates. The session allowed for answering investors’ concerns and offering appropriate solutions within the regulatory framework in force.

On the sidelines of the event, final granting decisions for land concession acts were delivered to investors from Oum El Bouaghi in the fields of automotive parts assembly and plastic packaging production.

October 3^rd, 2024

The Director General of the Agency, Mr. Omar REKKACHE, received on Thursday, October 3^rd, 2024 a delegation from the World Bank, in the presence of officials from the Agency. The delegation was chaired by the World Bank Country Director for the Maghreb and Malta, Mr. Ahmadou Moustapha NDIAYE, along with The World Bank’s Resident Representative for Algeria, Mr. Kamel BRAHEM, the World Bank’s Lead Economist for Algeria, Tunisia, Libya, Morocco, and Malta, Mr. Abdoulaye SY, and the Lead Economist, Health, Nutrition & Population, Mr. Jorge COARASA.

During the meeting, the progress of the investment and business climate in Algeria, under the new investment system, was discussed. The World Bank delegation praised the remarkable improvements noticed in Algeria, especially regarding the measures and initiatives taken by the country and the facilitation granted to both local and foreign project holders, which are starting to show concrete results through the increasing investment interest registered by the Agency.

The meeting was also an opportunity to present a summary of the technical support program provided by the World Bank to the Agency as part of the long term strategic vision project to promote investment in Algeria, which the Agency is working on.

Furthermore, an agreement was made to explore the possibility of organizing an information day on the new World Bank report system to evaluate the business climate “Business Ready (B-READY)”, which replaced Doing Business. This information day aims to explain the new evaluation criteria to enable the various concerned institutions put forward the reforms and programs proposed by our country.

Octobre 2^nd 2024

Within the framework of supporting and accompanying major investment projects, the Director General of the Agency, Mr. Omar REKKACHE, has received, Wednesday, October 2^nd  2024, the Director General of Tosyali Algeria, Mr. Nassuhi IZZET ULU, in  presence of officials from the Agency.

The meeting was an opportunity to present Tosyali’s strategy in Algeria and its goals for the coming years, particularly: increasing its production capacity, expanding its product range, and increasing its export volume.

On this occasion, an amendment rider to the previously signed investment agreement with this company was signed. The rider amends the provisions related to production capacities as well as structuring the financing of the iron and steel factory in Oran, allowing the latter to benefit from advantages that enable it to achieve the set objectives.