ALGIERS- Participants at the "International Economic Symposium for Strategic Partnerships," organized Saturday in Algiers, affirmed that the advantages offered by Algeria to investors, thanks to economic reforms carried out in recent years, allow it to attract significant foreign investments.

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The participants in this symposium, organized by the Algerian Union of Economy and Investment (AUEI), emphasized that the measures and incentives offered by the new investment law had simplified procedures for local and foreign investors, highlighting the advantages related to energy prices and the availability of a skilled workforce.

 

 

In this regard, the president of AUEI, Abdellah Benarab, welcomed the measures and laws implemented by Algeria in the past few years, such as the new investment law, the economic land law, the monetary and banking law, and others. This is in parallel with the country's move towards digitalization and efforts to restructure and organize the majority of competent consultative and executive bodies and institutions.

 

"The reforms the country has undergone pave the way for economic revival, aiming to establish Algeria as an economic power by 2027," he noted, emphasizing "the strong political will for change, translated by the courageous decisions of the President of the Republic, Abdelmadjid Tebboune." These decisions will allow Algeria to increase its non-hydrocarbon exports and strengthen local production.

 

For his part, the Secretary General of the International Bureau of the Union, Moncef Zemmouchi, said that Algeria's human and material capabilities, in addition to the advantages related to energy prices, were sufficient to attract foreign investments. He emphasized that the Union is working to achieve this goal through the opening of several of its offices in various countries.

 

The Union's spokesperson, Abdelkader Slimani, said that Algeria has been experiencing an "economic rebirth" in recent years, especially after the promulgation of the investment law and the implemented reforms, which have "established an environment conducive to investment."

 

The member of the Economic Affairs Committee in the Egyptian Parliament, Mahmoud Assaidi, considered Algeria as "fertile ground" for investment given its significant natural resources, underlining in this context "the successful Egyptian investments in Algeria."

 

Several representatives of Egyptian companies operating in Algeria mentioned "the positive impact of the improved investment climate in recent years" on these companies, highlighting the importance of exchanging expertise between Algerian and Egyptian companies.

 

 

The meeting was held in the presence of the Ambassador of Zimbabwe to Algeria, Vusumuzi Ntonga, and several Algerian and foreign economic operators and specialists.  

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