December 24th, 2024
The Algerian Investment Promotion Agency has embarked on the second stage phase of its reforms to foster the efficiency of the one-stop shop service and improve the land plots distribution process, said Tuesday the Agency’s Director General, Omar Rekkache.
In his remarks during the government meeting with Walis at the Palace of Nations, inaugurated by the President of the Republic, Abdelmadjid TEBBOUNE, Mr. REKKACHE stated, “We have effectively transitioned to the second phase of investment reforms after making significant progress and overcoming numerous obstacles.”
He added that “the time has come to accelerate the pace,” by establishing a truly operational one-stop shop system where investors can access all services in one place without the need to visit various administrations.
He also highlighted that the Agency is collaborating with various sectors, particularly housing and the environment, to amend regulatory provisions to enforce the principle of issuing permits through the Agency’s one-stop shops.
As part of these reforms, the Agency aims to enhance investment guidance by introducing multiple improvements to the evaluation grid. This was done in consultation with all key actors to ensure that “serious” investors with “viable” projects to the national economy can access land plots in a transparent framework, Mr. REKKACHE noted.
Furthermore, the Director General mentioned revising the operating method of the Agency’s board of directors, which comprises sectors involved in investment procedures, by raising the level of representation.
This board is tasked with identifying priority activities in each region and allocating land plots accordingly while ensuring that all Wilayas receive equitable opportunities for project establishment based on their specific characteristics.
Mr. REKKACHE praised the restored confidence of both local and foreign investors, attributing it to “strong political will translated into concrete actions on the ground.”
After successfully “putting the train on track,” the Agency has set higher goals, aiming to realize 20,000 investment projects over the next five years. This involves continuing efforts to strengthen investor confidence and support project holders, Mr. REKKACHE added.
Achieving this target requires genuinely addressing investor concerns, providing economic land, and leveraging the authority granted by the President of the Republic to the Agency for exploring land plots and creating new industrial and activity zones. This effort requires an average of 5,000 hectares of prepared land annually, according to Mr. REKKACHE.
On another note, the Agency has focused on empowering local authorities to play a pivotal role in attracting investment projects aligned with the unique characteristics of each Wilaya. “Model structuring projects have been directed across several Wilayas as part of this consultative policy,” said the Director General.
APS