ALGIERS – Tuesday, 12 September 2023 (APS) – Minister of Finance Laaziz Faid received Monday the chairman of the Arab Authority for Agricultural Investment and Development (AAAID) Mohamed Bin Oubeid Al-Mazroui, at the head of a delegation of his institution, the ministry said in a statement.


This meeting was an opportunity to have an exchange on the state and prospects of the cooperation between Algeria and AAAID, notably in order to “boost the agricultural investment and accompany the diversification dynamic already launched by the country,” said the source.

Faid underlined “the importance that Algeria attaches to the development of the agricultural sector, which is at the heart of the national economic revival and diversification strategy,” pointing out that “this importance has been stressed in view of the global context marked by disruptions in the supplying of some basic foodstuffs.”

In this regard, according to the statement, the minister called on AAAID to make “further efforts to back the development of the agricultural sector in the Arab countries, particularly in Algeria, which has embarked on a process aimed at improving its business climate, notably by reviewing the legal framework governing, amongst others, investment as well as economic and agricultural property for further facilitation and incentives to the national and foreign investors.”

He also stressed “the importance for AAAID to further strengthen its support in terms of the transfer of knowledge and the strengthening of the capacities likely to accompany the Algerian farmers to adopt the best international practices in the agricultural production.”

For his part, Al-Mazroui welcomed “the efforts made by Algeria to establish the bases of a sustainable agricultural growth,” while reiterating “his institution’s commitment to accompanying this momentum, aimed to improve the agricultural sector, through the strengthening of his institution’s investments in Algeria.”