Prefects in Algeria will not be able to grant investment licences

Deputies of the economic affairs, development, industry and commerce commission will meet industry minister Abdesselam Bouchouareb on Monday at Parliament to legislate a new law on investment.

The deputies are expected to present new recommendations as additional articles to the draft law. The latter will come in force in June. It deals with industrial real-estate, fiscal measures and investment assessment.

The deputies will submit a proposition to distinguish between 3 types of foreign investment.

The first type is related to investment in strategic fields such us car making, electricity and power. They should get additional advantages.

The second type represents investments per area and the third one includes investors who do not bring advantages for national economy.

The proposition recommends to give larger advantages to the first type by offer industrial real-estate almost for free. Investors in the third type will have to pay larger taxes and prices for industrial real-estates.

Member of the commission Naamane Laawar said the propositions will call for reducing prefects’ prerogatives as they are behind delay in offering investment licences. 

He added that deputies will not discuss the 51-49 investment rule with the minister as they are not allowed to change it.