24 June 2021

Chairman of the Economic, Social and Environmental Council (CNESE) Reda Tir said Thursday that Algeria has all the chances to attract foreign investments, given the advantages it offers at several levels.

Speaking on the occasion of the holding of a seminar organized in Algiers under the theme “The creation of joint ventures in the light of the abolition of the rule 51/49,” Tir affirmed that the last report of the United Nations Conference for Trade and Development (UNCTAD), released last week, shows an unprecedented drop in foreign investments, which represents, according to him, an opportunity for Algeria.

He explained that Algeria has “all the chances” to compete with the other countries which aim to attract the world’s leading economic powers envisaging the delocalization of their industries following the problems they faced because of the Coivd-19 pandemic.

He underlined that Algeria offers advantages at several levels, notably its strategic position, the richness of its natural and human resources and also its favorable climate.

This event is meant to discuss the legal, administrative and fiscal arrangements and financial engineering necessary to efficiently accompany the Algerian and foreign economic operators, he added.