Physical Address
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The business opportunities examined.
The director general of the Algerian Investment Promotion Agency (AAPI), Omar Rekkache, received Ms. Vanessa Vega Saenz, director of the organization Invest in Denmark, in the Danish Ministry of Foreign Affairs, in order to review the state of bilateral cooperation and the prospects for its development in a win-win partnership.
The meeting allowed the two officials to examine “business opportunities and investment support mechanisms in the two countries,” said a press release from the Algerian agency, adding that the interview was held at the AAPI headquarters and intervenes as part of a joint workshop on the mechanisms of attracting foreign direct investment. Several senior officials of the two countries attended this event, including the Ambassador of the Kingdom of Denmark to Algeria, Ms. Katrine From Hoyer, a delegation of several members who accompanied the director of Invest in Denmark, as well as a representative of the Ministry of Foreign Affairs and Managers of the AAPI.
The policies of the two countries in attracting foreign direct investment have been exposed, as well as the missions, action mechanisms and services offered by organizations responsible for promoting investment, in addition to the benefits and investment opportunities available, according to AAPI clarification.
Interviews also focused on strategic vision to attract foreign investments, established economic priorities, as well as the importance of effective support for investors through the simplification of administrative procedures, the development of digital services and the creation of a favorable business climate.
In this context, the two parties highlighted the importance of foreign direct investments to stimulate economic growth and create jobs, highlighting the central role of economic diplomacy in this dynamic, specifies the same document.
For a joint work mechanism
At the end of the meeting, the two parties have agreed to set up a joint work mechanism between AAPI and the Organization Invest in Denmark for the strengthening of bilateral cooperation and mutual sharing of their respective experiences.
The visit of Ms. Vanessa Vega Saenz is of particular importance, because she had occupied, between 2019 and 2023, the position of Ambassador of Denmark to Algeria, which allowed her to have in -depth knowledge of the business climate and investment in Algeria, said the agency in its press release.
This is not the first meeting between the director general of the AAPI and Danish officials. A similar meeting has already been held with the ambassador of the Kingdom of Denmark to Algeria, in the second half of 2024, during which Rekkache had explained to him the mode of investment in Algeria and the role of the AAPI in the support and monitoring of projects, in particular those intended to replace imports. The two parties also mentioned the means to revitalize the memorandum of understanding between the two countries, signed in 2016, in order to adapt it to the new investment framework in Algeria, as well as the terms of granting economic land belonging to the State and intended for the realization of investment projects.
It should be recalled that Algeria and Denmark have ratified an agreement to eliminate double taxation and reduce tax evasion, which came into force on 1er January 2024. The objective of this agreement, drawn up for years, is to reduce tax charges on income and capital and help prevent tax evasion, thus supporting investment, reducing tax charges and providing greater legal certainty to investors. This is a “concrete example of mutually beneficial cooperation” between Denmark and Algeria, which will benefit commercial cooperation between the two countries.