The National Investment Promotion Agency, one year after the start of its activity on November 1, 2022, recorded more than 4,000 authorized projects, with a value exceeding 2,000 billion dinars (more than 13 billion dollars), according to what was reported by the Director General of the Agency, Omar Rakash, stressing that The pace of registering investments “will double” after the law relating to economic real estate belonging to the state’s private property and directing investments enters into force.
Mr. Rakash explained, in an interview with the Algerian News Agency, on the occasion of the one-year anniversary of the start of the agency’s activity, as well as the entry into force of the new investment law, that the number of projects registered at the level of the agency’s decentralized single windows and the single window for major projects and foreign investments reached, during the period extending from November 1, 2022. As of last October 26, 4,124 projects, with a total value estimated at 2,055 billion DZD.
These authorized projects would create more than 104,000 jobs, “a number that is likely to rise after the issuance of the law that specifies the conditions and modalities for granting economic real estate belonging to the state’s private property for the implementation of investment projects,” according to the agency’s first official.
This tally includes 4,043 projects registered by local investors, representing 98 percent of the total registered projects, with a value exceeding 1,206 billion dinars (or more than 7.5 billion dollars), which would create more than 94,000 jobs.
In addition to local projects, the agency registered 81 direct foreign projects with a total value exceeding 849 billion dinars (about 5.5 billion dollars), which would create about 9,700 jobs.
These foreign investments are distributed among 21 nationalities from five continents, and Turkey comes in the lead with 26 projects, followed by China with 13 projects. “More than 70 other foreign companies have expressed their intention to invest in Algeria,” according to Mr. Rakach.
Industry is at the forefront of sectors..
As for the sectors that most attract investments in general, the industrial sector came in the lead with 2,060 projects, representing nearly 50 percent of the total projects registered by the agency, with a value exceeding 1,517 billion dinars, which would create more than 62 thousand jobs.
The construction, public works and irrigation sector ranked second with 648 projects, followed by the transportation (619 projects), agriculture (286 projects), services (232 projects), tourism (146) and health sectors with 133 projects.
Regarding the distribution of projects by region, more than 2,058 projects were recorded in the north, with expectations of creating more than 60,000 jobs, and more than 1,193 projects in the high plateaus, with more than 28,000 expected jobs, and more than 794 projects in the south that would create about 12,000. Job position.
In this context, Mr. Rakash pointed out that the processes of registering new investments during the first year of the agency witnessed a “very satisfactory upward pace” that is expected to “double after the issuance of the law specifying the conditions and methods for granting economic real estate belonging to the state’s private property intended for the implementation of investment projects, since real estate is an important factor.” “For investment.”
He stressed that the agency “succeeded in identifying and limiting the obstacles facing investors thanks to continuous listening to them throughout the country, especially through open doors and various demonstrations.”
Within the framework of promoting investment, the agency will organize an annual forum entitled “Algeria Investment” investAL, starting in 2024, which will bring together representatives of major institutions, important investors, and local and foreign experts and professionals to discuss topics related to investment.
As for clearing the status of investment files inherited from the National Agency for Investment Development (formerly ANDI), the official explained that 9,392 ongoing files (not canceled and not closed) were registered, including 5,539 investment files in progress.
To purify this portfolio, the agency adopted a specific strategy to help “serious” investors to complete their projects, by granting them an exceptional extension of the deadline for granting benefits for implementation, based on the justifications provided to explain the reason for the delay in completing these projects within the specified deadlines, in addition to conducting a field visit to ensure that the project is in place. The reality and the extent to which the progress of the works matches that stated by the investor.
In this regard, 300 extensions were granted to investors to allow them the opportunity to complete their projects, divided into 240 exceptional extensions (more than once) and 60 extensions once or twice, according to the official.
Speaking about the “Investor” platform launched by the agency, Mr. Rakash revealed that 2,243 files have been registered so far under construction by investors, and 776 files are under processing, in addition to 659 files that have been completed, adding that work is currently underway to develop the platform.
In this regard, he said that the platform “will not be limited to registration only, but will include all services related to investment, which will enable the agency in the future to determine, in real time, the projects that have begun to benefit from the privileges, the rate of their progress, and the number of job positions that have actually been created.”
It should be noted that the Algerian Investment Promotion Agency, which was placed under the supervision of the Prime Minister, replaced the National Investment Development Agency after the new investment law entered into force at the end of the third trimester of 2022.
#National #Investment #Promotion #Agency #registers #authorized #projects #year #Algerian #Dialogue
#oussama_boulegheb #elhiwardz #alakhibariat.xyz #elhiwar #elhiwar-en