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“Invest DZ”, a platform to strengthen the attractiveness of investment
Rekkache announces annual forum:
The Director General of the Algerian Investment Promotion Agency (AAPI) announced the creation, by the Agency, of the international investment forum “Invest DZ”, which will be held annually, with a view to strengthening the attractiveness of investment in Algeria.
During his speech, Omar Rekkache said that this Forum “was approved by the President of the Republic, to be placed under his high patronage.” “This Forum will be an annual international event and a platform, to strengthen the attractiveness of investment in Algeria, by exposing the investment opportunities available,” he said, adding that it will also be “ an opportunity for the evaluation and presentation of successful experiences of local and foreign companies.” It is also intended, he said, to be a platform for dialogue and collaboration between different economic players and foreign partners, to discuss various issues related to foreign direct investments.
Furthermore, the CEO of the AAPI affirmed that the results of the improvement in the business climate “are beginning to be felt, as evidenced by the thousands of investment requests made by numerous companies around the world. » Since the start of the Agency’s activities, on November 1, 2022, and until the end of last May, 7,482 investment projects have been registered, with a total declared investment amount of around 3,436 billion DA, whose owners have committed to creating more than 180,000 permanent jobs.
AAPI also registered 194 other investment projects, including 138 foreign-owned (52 foreign direct investments and 86, in partnership with foreigners). It should be remembered that at the beginning of the current month, Mr. Rekkache also revealed that the “megaproject” of the Malaysian group (Lion) is on track, affirming that this group will “invest in the field of metallurgy , steel and aluminum, for a total amount of eight billion dollars, spread over four phases. The cost of the first investment phase, relating to the domiciliation of the investment from Malaysia, amounts to 3.4 billion dollars. “The said project will be carried out as soon as we reach an agreement on the land area requested by the group,” announced the first head of the AAPI.
Djamila Sai