الجديد في قانون الاستثمار

Abstract

Algeria's new investment law has entered into force, with Algeria hoping that it will contribute to liberalizing the economy for domestic and foreign investors. The new text of the Act will continue for 10 years without change, thereby protecting and serving investment and investors. The new law provides for the conversion of the National Investment Support Agency (Government) to the Algerian Investment Promotion Agency and for its role as promoter and facility for investments. It was also decided to introduce a single network with national jurisdiction for major projects and foreign investments. Among the highlights of the new text, which has long drawn criticism from foreign partners, is the extension of the guarantee of transferring invested amounts and the proceeds therefrom to non-resident (foreign) investors. Foreign companies operating in Algeria face problems each year with regard to profit transfers and the lack of clarity on how to apply applicable regulatory texts. The Act also provides for maximum penalties to be imposed on anyone who obstructs in one way or another. Investment operations, whatever their position and nature of responsibility, have for decades shaped the business and investment climate; A hearty article for criticism of public opinion, local businessmen and foreign companies alike Because of the complex and heavy administrative procedures, what caused aversion among investors and led to Algeria's ranking as 157th in the Doing Business Report 2020,