Corrupt foreign companies are prevented from investing in Algeria
الشروق أونلاين
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Photo: archive
New investment law will allow, immediately after its entry into force, the government to prepare a national structure with the names of major foreign companies that have an experience in the field of technology, and in specialized sectors, in order to be a priority to enter the national market, by giving them many facilities that will be an add for the national economy. In contrast, a black list of the names and addresses of foreign companies that are involved in corruption is prepared to prevent them from getting deals in Algeria.
Sources close to the Industry Ministry told Echorouk that the new investment law ignores the point of opening investment for private investors, especially in the transport sector, assigning the subject to the relevant ministry, which is the only authority according to the legislative text that have the powers to open the transport sector before the private investors or not, as this new investment law will decide in a case that raised recently a large controversy around it.
Industry Ministry also referred the file of granting industrial property on a common ministerial commission, which is composed of representatives from the Ministries of Industry and Mines, finance, trade, or the state Commission for the distribution and control of the property, a decision that is included in the new version of the investment law, which is currently present at the level of the government General Secretariat, which will oversee this file that was in the hands of the governors of the ministerial committee and representatives of the “ENSEJ”.
Accordingly, the legalization process will be through the new investment law to end the differences that resulted earlier, concerning the industrial property, prompting the ministry to withdraw it from the governors, and give it to the inter-ministerial committee that shall ensure the preparation of national card that includes all the names of the beneficiaries.
