Algeria Strengthens Investment Landscape: AAPI Director General Omar Rekkache Outlines Strategic Reforms at Oum El Bouaghi Regional Forum

BY: Dr. Hana Saada

Algiers, Algeria | October 8th, 2024 — During the regional investment forum in Oum El Bouaghi, Omar Rekkache, Director General of the Algerian Agency for the Promotion of Investment (AAPI), delivered a powerful address, underscoring the government’s dedication to accelerating economic growth through strategic reforms and digital innovation. Attended by regional officials, economic operators, and experts, the forum focused on advancing investment in Oum El Bouaghi and neighboring provinces, such as Tebessa, Khenchela, and Souk Ahras.

In his opening remarks, Rekkache reaffirmed President Abdelmadjid Tebboune’s vision of balanced regional development, emphasizing that targeted investments in underdeveloped areas are essential to bridging regional disparities. “The Algerian government is committed to ensuring equitable distribution of structured investments across all regions, particularly in areas that require urgent development intervention,” Rekkache stated.

Highlighting Oum El Bouaghi’s significant yet untapped investment potential, Rekkache appealed to major private sector players and entrepreneurs, inviting them to express their project interests, with the AAPI facilitating the acquisition of the required land and promoting transparency through the agency’s digital platform. “We aim to make Oum El Bouaghi a priority for future investments, and we will work diligently to guide significant investments into the region,” he added.

Rekkache outlined three central pillars of Algeria’s ongoing investment reform, all of which are designed to foster confidence among both domestic and foreign investors: ensuring the stability of the legal and regulatory framework, simplifying administrative procedures through widespread digitalization, and aligning investment promotion strategies with the state’s broader economic objectives, as envisioned by President Tebboune.

These reforms, according to Rekkache, have already begun to yield promising results. He provided encouraging figures, revealing that from November 1, 2022, to July 31, 2024, the AAPI had registered 9,684 investment projects across Algeria, amounting to more than DZD 4.170 trillion in declared investments. These projects are expected to generate over 240,000 direct jobs. Of these, 176 projects involve foreign partners, with 63 being direct foreign investments and 113 joint ventures between local and international operators.

“The numbers are not mere statistics; they represent concrete progress,” Rekkache emphasized, noting that the majority of these projects are already in advanced stages of realization. The AAPI is committed to accompanying project holders until their initiatives materialize, helping Algeria reach the ambitious goal set by President Tebboune: the realization of 20,000 investment projects and the creation of 450,000 direct jobs.

In a key announcement, Rekkache revealed that since the launch of the AAPI’s digital investor platform, invest.gov.dz, on February 8, 2024, the agency has offered 660 land plots across 47 provinces, with 3,992 investment applications submitted. So far, 391 allocations have been approved. This digital platform, a cornerstone of the government’s effort to eliminate bureaucracy and corruption, is the exclusive means for investors to access land for projects.

Despite the progress, Rekkache acknowledged that challenges remain, particularly regarding land disputes following the publication of land availability. However, he assured attendees that the AAPI operates with full transparency, using a strict digital evaluation process that awards land to the highest-scoring applicants based on established criteria. “This process ensures fairness, and those who do not receive land in the first round can reapply as we continuously expand our land offerings,” he clarified.

Looking forward, Rekkache expressed confidence in Algeria’s ability to resolve its investment land challenges in the medium term. He pointed to the imminent operationalization of specialized land development agencies, which will significantly enhance the AAPI’s land portfolio.

In closing, Rekkache reiterated his commitment to ensuring that the AAPI continues to be a vital player in driving economic progress and addressing the region’s investment needs. “We will provide the necessary conditions for the success of all investment projects, and I am open to addressing any concerns or suggestions with complete honesty and transparency,” he concluded, inviting further dialogue from stakeholders.

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