Monthly Archives: October 2024

October 27^th, 2024

The Algerian Investment Promotion Agency, represented by Ms. Khaoula MOSTFAI, Head of Studies at the Agency, participated in the Algerian Products Exhibition in Doha, Qatar, from October 22^nd to 26^th , 2024.

On the sidelines of this exhibition, an Algerian-Qatari Business Forum was held on Wednesday, October 23^rd, 2024, with a significant participation of businessmen and investors from both countries. During this event, the Agency’s representative gave a presentation on the available investment opportunities and the facilitation that Algeria offers to both local and foreign investors.

October 25^th, 2024

As part of the ongoing implementation of the investment promotion program launched by the Ministry of_Foreign Affairs_and_the_National Community Abroad in collaboration with the European Union, entitled Sustainable Investment Partnership, the Algerian Investment Promotion Agency, represented by Mrs. Imane TOUMI, Director, participated in a prospection mission to Denmark  from October 22 to 24, 2024, aiming at attracting direct European investments to Algeria.

The mission was kicked off by a meeting at the Danish Ministry of Foreign Affairs to learn about Denmark’s strategy for investing in Africa. Several other meetings followed, with companies, professional organizations, and investment funds operating in the fields of mechanical engineering, well services, healthcare, food industries, renewable energy, construction materials, and mining. These meetings focused on providing a comprehensive overview of the recent updates and reforms to Algeria’s business climate, highlighting the guarantees and incentives outlined in the Investment Law, as well as explanations regarding economic land concessions granting through the digital investor’s platform, and investment opportunities in Algeria.

This sixth mission of its kind was marked by the participation of a delegation composed of the Agency’s representative, H.E. the Algerian Ambassador to Denmark, H.E. the Danish Ambassador to Algeria, representatives from the EU Delegation in Algeria, the Ministry of Industry and Pharmaceutical Production, the Ministry of Agriculture and Rural Development, Sonatrach and the Algerian Council for Economic Renewal (CREA), along with an expert from Ginger Sofreco.

October 20^th, 2024

The Director General of the Agency, Mr.Omar REKKACHE, received, on Sunday October 20^th, 2024, His Excellency the Ambassador of Hungary to Algeria, Mr. Goban   Levente SZARKA.

During this meeting, which was attended by executives from the Agency, investment opportunities in our country, as well as the intentions of Hungarian companies to invest in Algeria, particularly in renewable energies and agriculture sectors, were discussed.

Both parties agreed to explore the possibility of organizing a business forum and establishing relations of cooperation between the two bodies in charge of promoting investment in both countries.

October 16^th, 2024

In execution of the commitments made by the President of the Republic to support investment dynamics as one of the pillars of the strategy to strengthen and diversify the national economy, Mr. Brahim MERAD, Minister of Interior, Local Authorities, and Urban Planning, chaired a coordination meeting on Wednesday, October 16^th, 2024, at the Ministry headquarters. The meeting focused on the pace of investment at the local level and was attended by the Director General of the Algerian Investment Promotion Agency, as well as the Secretary-General of the Ministry and several Walis, along with officials from both bodies.

This coordination meeting provided an opportunity to exchange views and assess the progress made under the new investment system established by the President of the Republic. It also aimed to agree on practical measures to strengthen coordination and cooperation, enabling a tangible boost to investment dynamics in the short and medium term.

In this context, the Minister reiterated the utmost priority given by the President to encouraging investment and his ongoing directives to improve the investment climate at the local level. He emphasized the importance of doubling efforts and intensifying coordination to create optimal conditions for achieving the set goals. He also reaffirmed the commitment to fully support and accompany project holders who are creating wealth.

The Minister also praised the positive role of the Walis in accompanying this movement, whether through the process of clearing investment projects and removing obstacles, surveying available economic land, or reclaiming unused land plots. He further highlighted their initiatives aimed at promoting the attractive potential for both national and foreign investors, stressing the full readiness to support the Agency’s work to achieve the desired results.

For his part, the Director General of the Algerian Investment Promotion Agency, in his presentation on the pace of investment across the country’s wilayas, pointed out the positive boost, especially concerning projects aligned with national economic goals, such as reducing imports, encouraging the production of raw materials, and supporting innovation. He added that the current approach aligns with the principles of balanced development by directing investment initiatives according to local capabilities and the national economic map, thus ensuring the economic efficiency of projects while simultaneously enhancing local and national developmental gains.

October 14^th, 2024

In continuation of the Investment Promotion Program’s implementation launched by the Ministry of Foreign Affairs and National Community Abroad in collaboration with the European Union, the Algerian Investment Promotion Agency, represented by Ms. Imane AHLOUCHE, Head of Studies at the Agency, participated in a prospecting mission to Austria from the 9^th to the 13^th of October, 2024, aimed at attracting European direct investments to Algeria.

On the sidelines of this prospecting mission, the delegation, consisting of the Agency’s representative, the Algerian and the Austrian Embassies representatives, as well as experts from the GINGER SOFRECO consulting firm, attended the opening of the International Machinery Forum IMF24 held in Vienna. The purpose was to meet representatives of Austrian institutions and companies operating in the industrial and service sectors.

The delegation also participated in working sessions at associations and companies active in the food industry, renewable energy, and paper manufacturing sectors. These meetings focused on providing a comprehensive overview of the updates and reforms to Algeria’s business climate, including the guarantees and incentives outlined in the Investment Law, clarifications on the available economic land via the Investor’s Digital Platform, and a presentation of investment opportunities in Algeria.

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.