All guarantees have been provided to improve the investment climate in Algeria – the new Algeria

The Minister of Industry, Yahya Bachir, reported today, Monday in Algiers, that Public authorities In recent years, all legal measures have been taken and all guarantees have been provided to improve the investment climate, and this is part of a national strategy aimed at diversifying the economy and increasing the gross domestic product.

In his speech during a hearing before the Committee on Economic Affairs, Development, Industry, Trade and Planning BNational People’s Assembly On the issue of guarantees and the extent of improving the investment climate, which took place under the chairmanship of Samira Barhoum, head of the committee, Bachir explained that Algeria seeks to create a suitable climate that encourages national and foreign owners of funds to implement creative investment projects that create wealth and jobs and are capable of responding to “the strategic objectives of the state, which are based on diversifying the production base, replacing imports with national production, increasing the volume of exports, and increasing the gross domestic product.”

In the same regard, he highlighted that creating a suitable environment for investment “requires a set of measures and the provision of internationally recognized guarantees that guarantee safety and reassurance for investors, which is what it sought to establish.” Legal system In Algeria according to a comprehensive and integrated vision.”

In stressing the importance of the investment law, the Minister stated that this text provides “a set of guarantees and incentives to gain the confidence of investors and ensure the reassurance of their investment activity.”

The matter is mainly related – Mr. Bashir emphasizes – to enshrining principles Transparency Freedom of investment, equality among customers, protection from legislative changes, freedom of transfer of funds by foreign investors, and protection of intellectual property rights.

Also, the Minister adds, several advantages have been approved for some industrial branches through incentive texts, and this is for both the vehicle industry and customers practicing product production activities.Electronic equipment And home electrical, as well as for the benefit of handling companies.

On the other hand, Mr. Bashir referred to “the profound legislative reforms witnessed by real estate intended for investment in Algeria, through the issuance of a new legal system represented in Law No. 23-17 of November 15, 2023 and its implementing texts.”

In this context, one body was assigned the task of granting real estate, namely the Algerian Agency for the Promotion of Investment, in addition to dedicating Digitization As a transparent and modern means of displaying real estate and demand for it, with the establishment of three national agencies, each with a specialization (industrial, tourism, and urban), whose mission is to prepare real estate facilities and make them capable of embracing investment projects, according to the minister’s clarifications.

He stated that Algeria “enjoys important potential” in terms of “availability of a portfolio Industrial property It is directed to investment in 756 industrial zones and activity zones located in 56 states, including 50 new industrial zones under construction that will contribute to enhancing real estate abundance in 39 states.”

Within the framework of simplifying procedures, the Ministry is working – as he said – on setting digital platforms to enable investors to follow up on their files, pointing out that the matter is related to the platform for declaring data related to…National production It is a digital platform directed to the activity of vehicle manufacturing, car dealerships, and the import of production lines and used agricultural equipment.