Plant owners abroad authorized to transfer investments to Algeria

Chief of Algerian Exporters’ Association Ali Bey Nassri said the government will launch new measures to raise and develop local products and reduce imports. Factory owners abroad will be authorized to transfer their investments to Algeria.

« A measure included in the Complementary Financial Act 2009 will be banned. It will be possible to transfer factories. Foreign or Algerian investors living abroad will be authorized to transfer their plants to Algeria as from 2016,” Nassri told Echorouk.

“The new measure is expected to come into force in 2016 and may be included in the Financial Act. It aims at encouraging investment,” he added.

He believes that the 51/49 rule does not hinder investments in Algeria. “The administration and authorizations system are behind the difficulties faced by investments in the Algerian market.”