SAINT-PETERSBURG (Russia) – Friday, 16 June 2023 (APS) – President of the Republic, Abdelmadjid Tebboune, guest of honour at the Saint Petersburg International Economic Forum (SPIEF), whose plenary session opened on Friday, called on investors from Russia and all over the world to seize the investment opportunities and advantages offered by Algeria.


“I would like to assure economic operators that the field is open and that they can count on the Algerian government’s support for investors”, said President Tebboune in his speech at the meeting, which he co-chaired with his Russian counterpart, Vladimir Putin, before a high-level audience.

The President of the Republic invited “public and private companies from Russia and all over the world to explore the business climate in Algeria and to take advantage of the incentives that will enable them to carry out profitable investment projects in various sectors, as part of a win-win approach.”

Referring to the new framework governing investment in Algeria, which “grants all the privileges and special protection to investors,” President Tebboune pointed out that, for the first time since independence, all the implementing regulations for this law had been published immediately after its promulgation.

He also referred to the decision to keep the investment law unchanged for at least 10 years, which “will give sufficient guarantees to all investors, including our Russian friends.”

Stressing that Algeria was going through an “important phase” in its overall development process, he said that the country had become a “promising investment destination” thanks to the key reforms implemented by the Government and the many incentives on offer.

These many advantages have made it possible, he said, to create “a stimulating environment for economic operators in a country determined to implement an ambitious investment plan in the coming years, particularly in the fields of energy, infrastructure, agriculture, pharmaceuticals and industry, including agri-food and processing.”

President Tebboune said that Algeria would work to develop investment in green energy and in all areas that contribute to preserving the environment and combating climate change.

More than 17,000 participants from nearly 130 countries are taking part in the SPIEF plenary session, which runs until 17 June.

The theme of this major economic event is “Sovereign development as the foundation of a just world: joining forces for future generations”.

President Tebboune began a state visit to the Russian Federation last Tuesday, at the invitation of his Russian counterpart, Vladimir Putin.