Current global geopolitical changes have opened up new prospects for Algeria. On the one hand, Algeria is being courted by Europe and redoubling its efforts to increase its energy offering to reap record profit amid high gas prices. On the other hand, additional gas revenues offer opportunities for Algeria to develop the local industry in order to reduce its dependence on imports and fossil energy in the long term, and create jobs and technological partnerships. But can Algeria effectively create a competitive and business-friendly climate to attract foreign investors?
To restore the confidence of existing investors and attract new business in the country, a number of legal reforms have been launched. Investors have been promised tax incentives, legislative stability, transparency, guarantees for the transfer of funds and less bureaucracy. The Algerian government hopes that the new legislative framework will convince foreign investors to invest in Algeria.
Key legislative changes and sticking points are highlighted here.
*This article was written by Celine Van Zeebroeck, ranked by Chambers Global 2022 as one of the best foreign experts (corporate/ commercial) for Algeria.