October 16th, 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 16th, 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.
