The Minister of Finance, Laaziz Faid, explained, at the beginning of last July, the new provisions which characterize the new text of laws in preparation on economic land.
So many figures on the investment projects registered at the level of the Algerian Investment Promotion Agency (AAPI). Always more and more important in theory. If indeed the number of investment projects registered by this agency rises, already between November 1, 2022 and May 25, 2023, to 2,318 for a value of more than 7 billion USD, as announced then by its managing director, Omar Rekkache, he experienced an upward movement in the space of only a few months to currently reach, according to the same source, 3120 projects, with a value exceeding 1731 billion dinars. But these are of course only investment intentions identified by the said agency and not concrete investments.
The CEO of this agency invoked, last week, the reason for the unavailability of economic land because the law in reference is not yet ready. Either. But what about the investment, the nature of these projects, their amount and the sectors concerned? According to the report drawn up by the body in question, some 10,000 projects should be registered by the beginning of 2024 thanks to the law relating to economic land. The report shows 3,054 projects (97.8%) from local investors, for a value of 896 billion dinars, which should create more than 70,000 jobs.
Among these local projects, there are 17 investments in “megaprojects”, according to the same report. Also on the menu are some 66 other investments involving foreigners, or 2.12% of the total. Their breakdown by sector of activity is as follows: 51% in industry, 14% in construction, 14% in transport, 6% in the agricultural and service sectors, and 3% in tourism and health. These projects in question are located up to 51% in the North, for nearly 30% on the Hauts-Plateaux and in the South (19%).
The Minister of Finance, Laaziz Faid, explained at the beginning of last July, it should be recalled, the new provisions which characterize the new text of laws in preparation on economic land. He then stressed that this text was part of a perspective of “complementarity with the law on investment by granting the Algerian Agency for the Promotion of Investment (AAPI), via its one-stop shop, the exclusive right to grant economic land belonging to the private domain of the State intended for the realization of investment projects”.
The bill, which repeals the provisions of the 2008 ordinance setting the terms and conditions for the concession of land in the private domain of the State, intended for the realization of investment projects, enshrines the commitment of the State to first develop economic land in the private domain before granting it to investors through public agencies specializing in the field of industrial, tourist and urban land, Faid said. In this context, the granting of economic land in the private domain of the State intended for the realization of investment projects will be the exclusive responsibility of the AAPI via its one-stop shop.
