President Tebboune’s Bold Economic Directives: Moula Hails Visionary Leadership as Key to Driving Exports, Reducing Imports

BY: Dr. Hana Saada

Algiers, Algeria | December 3rd, 2024 — In a decisive effort to invigorate Algeria’s investment landscape, President Abdelmadjid Tebboune issued firm instructions on Monday to expand the land portfolio of the Algerian Investment Promotion Agency (AAPI). This strategic initiative aims to address the growing demand for industrial land from investors seeking to materialize their projects and contribute to Algeria’s economic transformation.

Speaking to the press, AAPI Director-General Omar Rekkache highlighted the critical nature of the discussion chaired by President Tebboune. “The focus was on mechanisms to strengthen AAPI’s land portfolio, ensuring sufficient land allocations to meet the rising demand and facilitating the execution of 20,000 investment projects during the medium term, particularly within the second presidential term,” Rekkache stated.

Streamlining Investment Processes Through the One-Stop Shop Approach

To enhance efficiency and investor convenience, President Tebboune instructed the implementation of a “one-stop shop” model. This initiative aims to centralize all services and authorizations required for investors, significantly reducing bureaucratic obstacles. “The one-stop shop is a cornerstone of our efforts to combat bureaucracy and improve the investment climate,” Rekkache emphasized.

Scaling Up Investment Projects to Boost Exports and Minimize Imports

Kamel Moula, President of the Algerian Economic Renewal Council (CREA), praised the meeting as “exceptionally productive.” He noted that it addressed Algeria’s broader economic challenges while focusing on stimulating investment and institutionalizing the one-stop shop.

Moula disclosed that 10,500 projects have been registered with AAPI, with many already under implementation. “The goal, as mandated by President Tebboune, is to increase this figure to 20,000 projects. This ambitious target aligns with Algeria’s commitment to enhancing export value, reducing import dependency, and achieving greater economic resilience,” Moula explained, adding that the objective is “well within reach.”

Catalyzing Economic Growth Through Strategic Reforms

President Tebboune’s directives signal a robust effort to transform Algeria into a regional hub for investment. By prioritizing transparency, efficiency, and adequate land resources, the government seeks to attract both local and international investors while bolstering industrial capacity.

The meeting also reinforced Algeria’s commitment to fostering an investment-friendly environment by ensuring high-quality support for economic operators and streamlining processes to accelerate project implementation.

This bold initiative by President Tebboune underscores Algeria’s determination to achieve sustainable growth, increase export capacity, and solidify its position as a competitive player in the global economy. The directives mark a pivotal moment in Algeria’s economic trajectory, heralding a future of increased investor confidence and dynamic growth.

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