Brussels, 27/09/2012 (Agence Europe) - Algeria will not be going back on its 2009 decision, which is criticised by the EU, to demand the participation of Algerian partners in any investment project in that country. The new head of government, Abdelmalek Sellal, said when presenting his action plan to the parliament that the measure granting a majority stake of any investment project to an Algerian partner was “inevitable”. He announced that new major projects (railway, roads, gas network connections, etc.) would be launched under the 2013 finance law. The prime minister also pledged that productive investment would be facilitated but warned that this does not mean liberalism in the way the economy is run.
During the EU/Algeria Association Council in June 2011, the EU had said it was necessary, as far as possible, to avoid adding too many binding procedures for operators. The restrictive treatment applied to foreign direct investment and to public procurement has generated great concern within the European business community with a very negative impact on current and future foreign direct investment in Algeria, it added. The EU called for those measures to continue to be eased or reconsidered as far as possible. It takes the view that Algeria offers real potential for attracting European investment flows. However, it points out, it is necessary to ensure a stable, predictable, non-discriminatory and transparent framework for economic operators. (FB/transl.jl)