ALGIERS-A World Bank (WB) official hailed on Sunday in Algiers the improvement of the investment system in Algeria, thanks to the reforms undertaken by public authorities, highlighting the role of the Algerian Investment Promotion Agency (AAPI) in attracting large investments and supporting local and foreign project holders.
The WB’s Director of the Prosperity Department for the Middle East and North Africa (MENA) at the WB, Mohammed Nadir, who was received along with his accompanying delegation by the AAPI Director General, Omar Rekkache, underlined the importance of modernizing investment legislation and procedures and the facilitations granted to local and foreign project holders.
He affirmed that Algeria would continue to make progress in this area during the next period and that the WB is ready to share its experience.
He applauded ‘AAPI’s key and effective role in implementing the approach to draw large investments, generate jobs, and back the country’s economic development.’
Rekkache and his guest discussed the new system of the WB report on the business climate assessment, named Business Ready (B-READY), which replaces ‘Doing Business,’ said AAPI in a document distributed to the press.
According to AAPI, Nadir emphasized the WB’s readiness to “take all the necessary measures to highlight the improvements made to the business climate in Algeria and entice foreign investors via the new assessment system.”
On the sidelines of this meeting, certificates were awarded to the AAPI executives trained under the WB’s technical support program for the Agency, in accordance with the draft long-term strategic vision for the promotion of investment in Algeria that the Agency is currently working on.
The training session, attended by 39 AAPI employees from 16 April to 4 November, included seven important workshops on the basis of foreign investments and the methods of assessment of foreign investment development policies, according to the explanations provided during the certificate award ceremony.”
