French investors should adapt to Algeria new law, says ambassador

French ambassador to Algeria Xavier Driancourt called on French operators to adapt to the new investment law approved by the government.

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• “Though it bothered some French investors, it is game rules to be adapted to especially that the Algerian authorities believe it is necessary,” the ambassador told a news conference on Wednesday in Blida (west of Algiers).
• He added that many French companies are not worried by Algeria’s decision. “The French operators came to Algeria to stay there definitively. They have no commercial objective.”
• He also said the French operators are expecting that the Algerian government gives more details concerning the new investment law.
• The new law stipulates that the Algerian part gets 51 percent of the joint ventures capital while the foreign part gets 49 percent.