ANDI: Investments up in first 9 months of 2017  

Published on : Saturday, 11 November 2017 13:45   Read : 1173 time(s)
ANDI: Investments up in first 9 months of 2017  

ALGIERS-The National Agency for Investment Development (ANDI) has recorded investments worth more than 1,450 DZD billion over the first 9 months of 2017, Director General of the Agency Abdelkrim Mansouri announced in an interview with APS. 

National and foreign investments worth DZD 1,455.56 billion have been recorded between January and late September 2017, against DZD 1,214.3 billion over the same period in 2016, up by 20%.  

This amount represents 3,972 projects recorded over the first 9 months of 2017 against 5,054 projects in the same period of 2016, down by 21 in terms of projects.

See also: Nearly 4,000 investment proposals submitted over first nine months of 2017

In this regard, Mansouri said that the increase in investment value and the drop in registered investments show an improvement in terms of investment quality because investments now in Algeria focus on sectors with national interest.

As for jobs, 129,661 jobs have been created against 111,290 over the same period of 2016, up by 17%.

Registered investments are not only of better quality but also consistent with one of the main goals of the law on promotion and investments, which encourages entrepreneurship according to the country’s development objectives.

The priority sectors, which are particularly important to the national economy (notably agriculture, industry and tourism), attract most of investments.

“We certainly need investments in all sectors. However, we do need projects in line with the Algerian investment policy, which aims to diversify exports, reduce imports and valorise raw materials in Algeria,” argued Mansouri.

Following the extension of the list of activities excluded from the incentives granted by the State under the new investment law, national and foreign investors are engaging in projects that generate an added value and create jobs, affirmed the same official.

Last modified on Sunday, 12 November 2017 19:56
ANDI: Investments up in first 9 months of 2017