ALGIERS- Participants at the "Legal Security and its Impact on Economic Development" forum, held Saturday in Algiers, affirmed that Investment Law 22-18 constitutes a fundamental pillar for a secure and stable investment environment.
This is reflected in the growing number of projects, which demonstrate the confidence of both local and foreign investors in the national market and highlight the impact of legal stability on stimulating investment.
In this context, Omar Rekkache, Director General of the Algerian Investment Promotion Agency (AAPI), told APS that the commitment of the President of the Republic, Abdelmadjid Tebboune, enabled the enactment of the first-ever investment law, accompanied by all its implementing provisions, simultaneously. This has consolidated the stability of the legislative system, as confirmed by increased international interest in exploring investment opportunities following growing confidence in the national business climate.
He explained that a stable legal framework is a "decisive factor" in improving the business climate, as it provides investors with a clear and predictable vision. This enables them to launch projects with confidence while planning for the medium and long term, and thus positively impacting the pace of completion for both local and foreign investment projects.
For his part, Mohamed Abdelaziz Amiad, Director of the One-Stop Shop for Major Projects and Foreign Investments at the agency, stressed that the Algerian investment law was established as the country moves toward building a diversified, wealth-creating economy.
This shift has enabled the establishment of legal security and reassurance to investors through the stability of the national legislative system, he said.
This progress is attributed to the provisions of the law, especially its dedication to the principle of freedom, which stipulates that every investor is free to choose their field of investment, as well as the principle of equality, which ensures that local and foreign investors are treated equally, granting them the same privileges and opportunities.
Similarly, the CEO of CITAL (a tram manufacturing and maintenance company), Wahida Chaab, pointed out that the investment law enshrines fundamental guarantees that encourage investors to take the initiative and implement their projects with confidence.
In turn, the Director of the Legal Department at Sonatrach, Nasser Eddine Ali Ammar, stressed the need for legal security to be based on clarity and precision.
He considered this a fundamental pillar for achieving legal certainty for investors, especially foreign investors, who must know the legislation before investing to ensure they make informed decisions.
