Algeria

Minister of Industry: drafting of new investment law has been completed

The Minister of Industry, Ahmed Zaghdar, announced today, Thursday, in Algiers, that the new investment bill has reached its final stage and is now at the level of the services of the General Secretariat of the Government.

The minister’s statement came during his response to the concerns of the MP in the People’s National Assembly of the parliamentary group in the province of Bejaia, about the timing of the release of the new investment bill, during a public session devoted to oral questions.

Zaghdar explained that his ministry, in cooperation and consultation with experts and specialists in the field, prepared the final version of a new investment law within the framework of a “new strategic vision to promote investment in Algeria that seeks to create a more favorable work environment that provides opportunities for investment in an environment of trust.”

The law aims “to take care of the shortcomings and obstacles observed in the field when applying the legal system related to investment,” according to the minister.

With regard to industrial real estate, Zaghdar confirmed that his ministerial sector initiated several measures, including the review of Ordinance No. 08-04 of September 1, 2008, which specifies the conditions and modalities for granting concessions on lands belonging to the province’s private property and directed to the implementation of investment projects.

The minister mentioned the establishment of a national authority charged with granting and managing industrial real estate, explaining that this authority “would be the main tool for the province to implement the national policy for industrial real estate and would also constitute a pole of competence and technical expertise in the service of the state.”

With regard to the census of unused industrial real estate located at the level of industrial zones and activity areas, the minister stated that an inventory of industrial real estate located at the level of industrial zones and activity areas was presented and the results of this inventory were presented to the first ministry.

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