The President of the Republic, Abdelmadjid Tebboune, who is participating as a guest of honor in the St. Petersburg International Economic Forum, whose public session opened yesterday, Friday, called on investors from Russia and from all countries of the world to take advantage of the opportunities and incentives offered by Algeria for investment.
President Tebboune said, in a speech he delivered during this session, which he supervised with his Russian counterpart, Vladimir Putin, in the presence of a high-level presence of several countries, “I confirm that the field is open to economic dealers who can rely on the support of the Algerian government for the investor. Accordingly, I call on public companies and the private sector in Russia and the world to explore the business environment in Algeria and benefit from the incentives that allow them to carry out feasible investment projects in various sectors, according to a win-win approach.
In this context, President Tebboune touched on the new investment law, which “gives all privileges to investors and gives them special protection,” noting that, for the first time since independence, all the implementing texts of this law were issued immediately after its issuance.
He mentioned the decision to keep the investment law unchanged for a period of no less than 10 years, which “will give sufficient guarantees to all investors, including friends from Russia.”
In the same context, the President of the Republic stated that Algeria is currently witnessing an “important stage” in its comprehensive development path through its national strategy, as it has become a “promising investment destination” thanks to the pivotal reforms embodied by the government and the many incentives that have created a “stimulating climate for economic operators in a determined country.” To implement an ambitious investment plan in the coming years, especially in the fields of energy, infrastructure, agriculture, pharmaceutical products and various industries, including food and manufacturing.
He stressed that Algeria will work to increase investment in green energy and in all areas that contribute to preserving the environment and combating climate change.
The work of the plenary session of the International Economic Forum, which is being held in St. Petersburg (14 to 17 June), is attended by more than 17,000 participants representing about 130 countries, with high-level participation recorded by many countries.
This important economic meeting revolves around “sovereign development as the basis for a just world: uniting efforts for the sake of the rising generations.”
It is noteworthy that the President of the Republic embarked last Tuesday on a state visit to the Russian Federation at the invitation of his Russian counterpart, Mr. Vladimir Putin.
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