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Large investments: 90 projects worth DZD 511 billion examined in H1 2013

 ALGIERS- The National Investment Council (CNI) examined during the first half of 2013, some 90 projects worth DZD511.3 billion, i.e. $6.3 bn, said the report of the National Agency of Investment Development (ANDI) presented Monday in Algiers.

Since January 2013, the CNI gives approval for all investment which amount exceeds DZD 1.5 billion, against a level of DZD500million previously, according to a clause of the Finance Law 2013.

The number of projects is up 53.7% in comparison with the same period of 2012 during which 58 projects were initiated for an amount of DZD332.4 billion, according this document presented during a workshop on the state and the accompanying of private investment in Algeria, chaired by Minister for Industry, SMEs and Investment Promotion Cherif Rahmani.

These projects which most of them are in stage of company creation and completion of feasibility surveys, should generate 14,260 jobs, against 13,561 jobs during the first half of 2012, up 5.15%, according to the general manager of ANDI Abdelkrim Mansouri.

Out of the 90 projects, the first half of 2013 recorded 24 Foreign Direct Investments (FDIs), worth DZD 225.9 billion ($2.8bn) against 8 similar projects in the same period of 2012 (+200% in terms of projects number), he added.

Industry sector took lion’s share of investment projects with 57 projects, worth DZD280.7billion, i.e. a 54.9% rate of the projects global budget with the purpose to create 7,796 jobs.

Tourism sector, as for him, totals 23 projects, budgeted at DZD99.4 billion, the equivalent of 19.45% of the overall amount, with the ambition to generate 4,085 jobs.

(APS) Monday 5 August 2013  

 

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