General Inspectorship at Temmar’s Ministry set to supervise closely foreign investments in Algeria.

The Algerian government has entrusted the General Inspectorship at the industry and investment promotion Ministry with seeing to the swift and smooth implementation of the new strategy for the sound regulation of foreign investments in Algeria.

• The move comes in the wake of firm instructions issued by the President of the Republic Abdellaziz Bouteflika who enjoined the Minister in charge of industry and the promotion of investments Abdelhamid Temmar to undertake a through auditing and assessment of his sector of activity notably through a better regulation of present and future foreign investments in Algeria.
• The head of state Abdellaziz Bouteflika had stressed that the required overhauling of the sector should tally with international standards and should preserve Algeria’s vital economic interests.
• The overhauling process will be conducted by a team of 9 inspectors led by a chief inspector who will verify and monitor all foreign investment operations in the country to gauge their reliability and compliance with the laws in force.
• He is also to work out at the end of his mission an overall assessment report which will be submitted to the industry and investment promotion Minister for a final appraisal and scrutiny.