BY: Hana Saada
Algiers, July 22, 2023 – The Algerian Organization for Investment Development commemorates a significant milestone, as it celebrates one year since its inception on July 20, 2022. In honor of this momentous occasion, a reception was held at El Hani Hotel, welcoming esteemed guests and members of the media family. This ceremony served as a platform to highlight the organization’s accomplishments during the past year and to unveil its ambitious vision for the future of investment in Algeria.
The first and foremost objective outlined during the celebration is the urgent need to embrace digitization across all sectors of the Algerian economy. The organization recognizes the crucial role of technology in dismantling barriers and eliminating past challenges that hindered investors. By leveraging digital solutions, the investment landscape can be further streamlined, fostering a conducive environment for local and foreign businesses alike.
The Algerian Organization for Investment Development extends its heartfelt appreciation to the Algerian government for its proactive efforts in providing a conducive business environment. The recent decision by the President of the People’s Democratic Republic of Algeria to maintain the investment law for a decade sends a strong message of stability to foreign investors, bolstering their confidence in entering the Algerian market. This strategic move, coupled with the overall stability of the nation, creates an attractive investment climate, particularly for Algerian expatriates, eager to contribute to their homeland’s development.
Mr. Faisal Ammari, the President of the Algerian Organization for Investment Development, shared insights into the organization’s novel approach to advancing the economic sector. With a carefully crafted action plan, the organization aims to chart a distinct and effective course towards enhancing investment profitability in Algeria. By aligning its vision with the state’s aspirations, the organization seeks to actively contribute to the nation’s growth and prosperity.
A notable achievement during its first year has been the establishment of international offices dedicated to promoting Algeria’s new investment laws and incentives. These offices serve as bridges of cooperation and partnership between Algerian investors and their foreign counterparts, facilitating cross-border investments in various sectors. The organization’s extensive network of over 25 provincial offices at the national level further strengthens its reach and impact.
Under the visionary leadership of Mr. Faisal Ammari, the head of the organization, an unwavering commitment to building a robust national economy stands at the forefront. With an eye on securing a promising future for generations to come, the organization’s primary objective is to empower and support aspiring entrepreneurs, including university graduates and emerging institutions, along with small and medium enterprises, in materializing their innovative project ideas. Not content with merely facilitating local initiatives, the organization seeks to forge strong collaborations with diverse bodies and constitutional institutions to draft a comprehensive road map, spanning the medium and far-reaching horizon, that will not only attract global investments but also catalyze the realization of monumental projects spanning various sectors. Algeria’s role as a formidable player in the international arena will be solidified, positioning the nation as a force to be reckoned with, its potential measured not just in numbers but in its profound impact on the world stage.
As the Algerian Organization for Investment Development marks this significant anniversary, it reaffirms its dedication to driving transformative change in Algeria’s investment landscape. With its forward-looking approach and unwavering commitment, the organization stands poised to lead Algeria into a brighter, more prosperous future – a future built on investment, innovation, and sustainable growth.
