Algeria: Over 11,780 Investment Projects Registered by AAPI

BY: Dr. Hana Saada

Algiers, Algeria | January 07th, 2024 —  The Algerian Investment Promotion Agency (AAPI) has reported the registration of over 11,780 investment projects across the national territory by the end of 2024, reflecting a substantial financial commitment exceeding DZD 4.73 trillion and the promise of creating approximately 285,000 jobs. This milestone was announced by AAPI Director General Omar Rekkache during a study day themed “Algerian Television: A Partner in Development and Investment, and a Platform for the Promotion of National Products,” hosted by the Algerian Public Television (EPTV).

A Renewed Investor Confidence

Among the registered projects, 218 involve foreign investments, including 82 direct foreign investments (FDI) and 136 joint ventures, underscoring Algeria’s renewed appeal among both local and international investors. Rekkache emphasized that this influx of projects serves as “tangible proof of the restored confidence among investors and project developers,” further reinforced by thousands of expressions of interest from both domestic and foreign investors.

AAPI has committed to ensuring optimal conditions for the realization of these projects, particularly by addressing land availability. “These figures mark the initial harvest of the profound reforms undertaken,” Rekkache stated, expressing optimism that the pace of investment will accelerate to meet President Abdelmadjid Tebboune’s ambitious goal of reaching 20,000 investment projects within the next five years.

Streamlining Procedures for Sustainable Growth

Highlighting the structural reforms introduced under President Tebboune’s leadership, Rekkache emphasized that the primary objectives are to improve the investment climate, build investor trust, and stimulate both economic growth and sustainable development.

The reforms rest on three core pillars: legislative clarity and stability, an efficient and cohesive institutional framework, and the simplification of administrative procedures. This streamlined approach ensures high-quality services for investors while promoting transparency and equality of treatment, essential elements for maintaining investor confidence and satisfaction. Additionally, these measures align Algeria’s investment promotion strategies with the nation’s broader economic vision.

Adapting Regulations to Economic Evolution

Rekkache revealed that Algeria has already transitioned into the second phase of reform implementation, citing instructions from President Tebboune to expand AAPI’s land portfolio with fully developed plots to meet growing investor demand. Furthermore, regulatory texts are being periodically updated and adapted to reflect economic shifts and evolving market conditions, ensuring alignment with the nation’s development objectives.

A Unified Investment Platform

In a significant procedural enhancement, Rekkache announced ongoing efforts to transform AAPI’s one-stop shop into a fully integrated platform where investors can secure all necessary authorizations for project execution. This initiative includes on-site services for financing support through dedicated bank and financial institution counters, as well as notary and business creation services.

“Construction and operational permits will soon be exclusively issued through the AAPI’s one-stop shop,” Rekkache affirmed, emphasizing the agency’s commitment to further facilitating the investment process and fostering Algeria’s economic diversification.

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