11,780 Projects With The Investment Promotion Agency By The End Of 2024

The Algerian Investment Promotion Agency (AIPA) has registered more than 11,780 investment projects at the national level until the end of last year 2024, with a total authorized amount of more than 4,730 billion dinars, said Tuesday in Oran,western Algeria, the director general of the same body, Mr. Omar Rekache.

As of December 31, 11,788 projects were registered at the single window of the agency, with a total authorized amount of more than 4,730 billion dinars and a commitment to create 285,000 new jobs, Mr. Rekache said during a study day entitled “Algerian television as a development and investment facility and a platform for the promotion of national products,” organized by the Algerian Television Corporation (CTA).

Of these registered projects, “218 are related to foreigners (82 direct foreign investments and 136 partnerships),” he added.

He underlined that this number of projects at the level of the agency’s single windows “is a clear evidence of the return of confidence among investors and project holders, not to mention the thousands of desires of local and foreign investors that the agency is working to provide the necessary conditions to materialize them on the ground, especially with regard to the provision of the necessary real estate vessels.”

These statistics are “the beginning of reaping the fruits of the reforms,” according to Rakash, who noted that “the pace will increase in order to achieve the goal set by President of the Republic Abdelmadjid Tebboune to reach 20,000 investment projects in the next five years.”

Speaking about the profound reforms of the investment system approved by the President of the Republic, the official further highlighted that they aim to improve the investment climate and instill confidence in economic operators in order to promote economic growth and achieve the goals of economic and social development.

In this regard, he explained that these reforms were built on three main pillars: the clarity and stability of legislation, coupled with an effective and harmonized institutional system; the simplification and facilitation of procedures to provide quality services to investors within the framework of transparency and equal treatment, which enhances their confidence and satisfaction; and the compatibility of the investment promotion policy with the strategic orientations of the state.

In this regard, he underscored  that the second phase of the implementation of these reforms has already been launched, “where the necessary instructions were given by the President of the Republic to strengthen the real estate portfolio of the Algerian Agency for the Promotion of Investment with the largest number of prepared real estate vessels, in order to respond to the growing demand, in addition to the updating and periodic adaptation of regulatory texts to economic developments, to respond to the requirements of each stage,” he said.

“We will also provide financing services, which is also a key factor in investment, by opening windows for banks and financial institutions, documentation services, establishment of institutions and others,” he said, adding that the single window will become a reality where the investor obtains all the necessary licenses to implement his project in accordance with the instructions of the President of the Republic.

“In the coming weeks, construction and exploitation licenses will be issued exclusively at the single window of the Algerian Agency for the Promotion of Investment,” he said.