ALGIERS – Sunday, 20 August 2023 (APS) – The Algerian Investment Promotion Agency (AAPI) is preparing to launch the “Partnership Exchange” via its digital platform to facilitate contacts between Algerian and foreign investors and enable them to implement joint projects, announced the Agency’s Director General (DG), Omar Rekkache.
This “ambitious” project is intended as a mechanism for local and foreign investors to express their interest in partnership projects, Rekkache told APS, stressing that the Agency will act as a link between the two parties, facilitating the implementation of agreed projects.
This exchange will “boost” the investment field, as it will facilitate contacts between investors, according to the same official, who affirmed that the Agency will promote successful investment experiences within the framework of the “Partnership Exchange”.
Regarding the launch date of this service, AAPI’s CEO said that it would take place after the promulgation of the law setting out the terms and conditions for the granting of economic land in the State’s private domain for investment projects.
He added that efforts were continuing to develop the digital platform to include all investment-related services.
In addition to the launch of the “Partnership Exchange”, a service for consulting economic land offers and submitting applications via the Agency’s platform will also be launched, following the promulgation of the law on economic land.
Thanks to the improvements that will be made to the digital platform and the exchange of information with the Customs and Tax Departments (DGI), “AAPI will in future be able to identify, in real-time, projects that are starting to benefit from advantages, as well as their rate of progress and the actual number of jobs created,” according to the official.
In addition, Rekkache recalled that the protocol signed between the AAPI and the DGI last June had facilitated the exchange of information between the two parties with regard to the control of tax benefits, stressing that “contacts are underway with customs services with a view to activating the interoperability of information systems, as is the case with the Ministry of Labour, Employment and Social Security.”
Rekkache also highlighted the role of economic diplomacy, which has attracted a great deal of foreign investment to Algeria.
“Algerian embassies have stepped up their efforts to publicize investment opportunities in Algeria, as well as the advantages offered by the new Investment Code”, he said.
Praising the role of Algerians in the diaspora in promoting investment in Algeria, notably by setting up partnership projects with foreigners or proposing foreign investors to the Agency, Rekkache said that the average number of investment projects registered with the Agency should reach 1,000 projects/month after the promulgation of the law on economic land, compared with 350 projects at present.
“Several major companies have expressed interest in investing in Algeria, and are awaiting the entry into force of the economic land law”, he said.