Algerian Radio
The Algerian Investment Promotion Agency (AAPI) received on Monday Mr. Cheikh Tidiane Diagne, Regional Representative for the Maghreb and Sahel region of the Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, an AAPI press release indicated.
During this meeting, the two parties examined cooperation prospects and explored areas for an operational partnership intended to support investment promotion efforts and strengthen Algeria's attractiveness as an investment destination, the press release specified.
In this context, the Director General of AAPI, Omar Rekkache, gave a presentation on the main structural reforms undertaken by Algeria to improve the business climate. These include the new investment law, the investor single-window mechanism, and various provisions aimed at simplifying procedures and enhancing transparency and efficiency in the processing of investment projects.
Furthermore, Mr. Rekkache reviewed the investment opportunities available in Algeria across priority sectors, notably the manufacturing industry, the pharmaceutical industry, agriculture and agri-food industries, mining, renewable energies, tourism, and information and communication technologies (ICT). He highlighted the "promising" opportunities these fields offer for productive and sustainable investment, the press release added.
The meeting also focused on the support mechanisms and facilitations granted to domestic and foreign investors, in addition to the Algerian experience regarding investment-related guarantees and the role of sovereign wealth funds in supporting economic momentum.
For his part, the MIGA representative praised the reforms undertaken by Algeria to improve the investment climate. He considered that they consolidate the country's attractiveness for foreign direct investment (FDI) and align with his institution's objectives of encouraging the flow of capital to member states.
At the conclusion of the meeting, it was agreed to establish an institutional cooperation framework defining the priority areas for partnership and promoting the exchange of expertise and information, with the aim of attracting value-adding and job-creating local and foreign investments.
MIGA, an institution of the World Bank Group, provides guarantees against non-commercial risks to investors, thereby contributing to the facilitation of investment flows to member states, including Algeria.
