Positive Indicators Belie International Reports About Investments In Algeria

June 23, 2022

Economists and MP’s of the People’s National Assembly called for urgent intervention by the country’s higher authorities, to lift the brakes on investment in Algeria, which has been idle and locked in the drawers of ministers and governors for 3 years, and not to be satisfied with the new legal text, but to implement it on the field, so as to refurbish Algeria’s image abroad and confront the black reports that are woefully seeking to discredit investment in our country.
In parallel, the Director General of Taxes at the Ministry of Finance, Amal Abdellatif, defended the measures taken by the Government, and presented positive indicators that belie what international bodies are promoting about investment in Algeria, through negative reports.
In a speech yesterday, on the sidelines of the parliamentary day organized by the RND bloc in the National People’s Assembly, Amal Abdellatif said that the country’s higher authorities have recently taken a number of incentive measures to support economic institutions and improve the investment environment, especially in the wake of the health crisis caused by the outbreak of the Corona virus pandemic, at the same time recognizing the existence of bureaucratic hurdles that stymied the investment climate for many years, but the new text on the parliament’s table carried – according to her – several incentive measures to attract foreign and local investors.
The first official in charge of the tax sector also responded to the concerns of experts and specialists regarding the delay in digitizing the sector and its impact on the investment climate by saying, “We are working on developing the tax information system and setting up a special portal for permitting and paying, but the demand for it is still limited.”
On the other hand, the parliamentary day, which was entitled, “Reading in the New Investment Law” witnessed several communications by experts and specialists in the economy, most notably the communication of the President of Boumerdes University, Mustapha Yahi, who criticized the international classification of Algeria in the field of investment, and said, “Our country ranks 15th in the Arab world in the ease index.”
As for foreign investment, Algeria ranked seventh in the world, according to the spokesman, which requires – according to him – the intervention of the highest authorities in the country to instill confidence in the investment act, and work to create a global environment for investment, and it must be expedited coupled with the modernization of the banking system and its integration into the banking system.
For his part, Professor Suis Abdelwahab believes that the new investment bill is primarily linked to sustainable development, and the acceleration of upgrading the existing image of the Algerian economy, which has been linked for years to imports.
Among the lapses stand the economic administration and the difficulty of accessing public services, as well as the weakness of framing and access to information.
The participants in the Parliamentary Day wrapped up with several recommendations to improve the investment climate in Algeria, the most important of which is activating the marketing tasks of diplomatic representations abroad through conferences and exhibitions, thinking about portraying a transparent administrative system, and expanding the debate on the performance of economic control.

echoroukonline


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