Economy

Pending investment projects: lifting restrictions on 109 new projects during the last two weeks

Restrictions were lifted on 109 additional projects in the last two weeks, among the pending investment projects, according to a statement issued by the Presidency of the Republic today.

This outcome came during a presentation by the mediator of the Republic on the development of the status of pending investment projects, at the cabinet meeting chaired by the President of the Republic, Mr. Abdelmadjid Tebboune.

According to this outcome, “restrictions have been lifted on 109 additional investment projects, and 66 other projects have entered into exploitation.”

In total, this allowed – the statement adds – the entry of 491 investment projects into service, compared to the position presented during the last cabinet meeting, represented by 431 projects.

The new projects that came into service during the last two weeks enabled the creation of 2,420 additional jobs, which means the creation of 30,133 actual jobs since the start of the lifting of restrictions, to reach 48,553 actual jobs soon.

Following this presentation, the President of the Republic highly valued the results achieved and the efforts exerted on the ground by the mediator of the Republic and the government, especially in the industrial sector, to move the pending investment projects.

He also stressed “to draw the lesson from the bureaucratic methods, which were preventing materialization, and to continue to fight them in future investment projects, by redressing all the loopholes, so that they do not recur, and to include this in the new investment law,” according to the statement.

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