Peugeot project in Algeria is about to be ready, says minister

Algerian industry minister Abdesselam Bouchouareb Tuesday said Peugeot cars manufacturing project in Algeria is about to be completed. A contract for shareholders will be signed soon.

“I assure you that we will be able to sign the shareholders’ contract. This will come after a meeting held by the joint governmental committee chaired by Algeria and France’s presidents,” the minister told Algeria news agency (APS).

“Measures included in the Financial Act draft bill 2016 respond to the current situation requirements in long term,” he added.

He also said the draft law stipulates that funding is necessary to achieve direct foreign investment or projects in partnership.

Speaking about simplifying procedures, Bouchouareb said the next investments law stipulates the establishment of an automatic system to benefit from advantages.