“Doing Business” ranking destroys investments in Algeria

World Bank gives a painful blow to investments in Algeria through the new “Doing Business” ranking 2016, which shows that Algeria is down with 9 ranks, and ranked 163 among 189 countries, after it ranked 154 last year, as this comes at a time when government is doing great efforts for the development of business and investment environment in Algeria.

According to the report that was issued on Wednesday, Algeria ranked 163 of the total 189 countries, according to the attractiveness of investment indicators, down with 9 ranks.

Same report shows that the only area that noticed a progress is the field of building permits, according to the ten indexes that are adopted by the International Bank, as Algeria is up with two ranks and moved from 124 to 122, while the rest of the areas noticed a decline or stability at the same ranking, which contrasts with the government’s efforts to develop the investment climate in Algeria and achieve more attractive results in this framework.

Algeria ranked 115 according to the “Doing Business” report of 2008, which reveals a large decline over the past seven years, and on the other hand the neighbor Morocco shows a remarkable progress, as it ranked 75 after it ranked 80, with a progress of 5 ranks up, while Tunisia ranked 74, which is a very advanced ranking.

Libya ranked 188 and is the penultimate State in the list that was prepared by the World Bank for the year 2016.

Industry and Mines Minister, Abdessalam Bouchouareb spoke from Paris about the “Doing Business” Index and described it as one of the hardest reports in the world, confirming the government’s efforts to improve the investment environment in Algeria and the development of economic enterprise, a side that enjoys a special strategy by the government.

“We should not forget the privileges that will be included in the Finance Act of 2016, which encourages investment and enterprise through tax cuts and easing the documents.”

It is known, that the new investment law, which was presented to the Council of Ministers weeks ago, includes new privileges to foreign investors and even local, and the special procedures that are adopted by the government with regard to the industrial and private real estate and the creation of 49 areas for ​​new industrial activity, and facilitating the investors and businessmen access to these privileges, because they all fall within the State’s efforts to improve the business and investment climate and reduce criticism against the government in this regard.