Algerian bureaucracy expels investors towards neighboring countries

Estimates released by the National Agency for Employment and the National Fund for Unemployment Insurance revealed that the average rate of the creation of small enterprises doesn’t exceed 28 thousand companies per year in Algeria.

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• More than a quarter of them are doomed to disappear because of the various constraints linked to bureaucracy, corruption and the requirements imposed by the banks prior to their agreement to finance the projects.
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• The same sources have also indicated that the treatment of the dossiers by the banks takes 60 days at best while the period exceeds 129 days in some provinces despite the instructions given by the Algerian authorities to the banks obliging them to assist the young investors in their projects.
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• By contrast, an Algerian investor has revealed that he has completed all the procedures for the creation of his start up in Tunisia in 6 days, making thus of this country one of the highly praised destinations for the investors in addition to Morocco.
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• This situation has led the World Bank to issue a grim assessment on the business climate in Algeria and classified the country in the 136 position out of 182 countries. Algeria has registered only four projects of investments over the year 2009.
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• In a declaration to Echourok, Ahmed Bouzziane has revealed that he left Algeria to invest in Tunisia because of the bureaucratic hurdles he had to face in his home country, while 06 days were enough to complete all the procedures in Tunisia through the One –Stop Shop.
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