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Strategy ANDI is the primary Algerian government agency tasked with seeking and recruiting foreign investment.However, the Ministry of Industry and Mines, and its Minister himself, remain critical decision-makers for approving industrial investments.This requirement was first adopted in 2006 within the oil sector and was expanded across all sectors by 2009.According to Go A officials, the law seeks to diversify local economic production and profit while retaining national economic pride and requires a "plowing back of profits" to restrict capital flights and ensure additional local economic growth.Sectors targeted for robust investment include agriculture, tourism, information and communications technology, manufacturing, energy, construction infrastructure, and health.The Go A has singled out the auto manufacturing and renewable energy industries as sectors for growth and has offered lucrative, decades-long tax reductions, fixed-price contracts, and other incentives to companies willing to invest in localization of production. Companies must overcome language barriers, distance, customs challenges, an entrenched bureaucracy, difficulties in monetary transfers and currency conversion, repatriating dividends, and price competition from Chinese, Turkish, and European businesses.As part of that effort, Prime Minister Sellal created a business climate monitoring committee composed of the Minister of Industry and Mines, Minister of Finance, and Minister of the Interior, and asked the ministers to support adequate measures to improve investment in their sectors of responsibility.Laws/Regulations of Foreign Direct Investment The 49/51 investment law requires a majority Algerian partner for any foreign investment (see page 5), but otherwise there are few laws restricting foreign investment.
Some foreign investors use multiple local partners in the same venture, effectively reducing ownership of each individual local partner to enable the foreign partner to own the largest share.The introduction of the quotas and opaque system for granting licenses have brought imports in some sectors screeching to a halt and injected further volatility into prices and supply.According to business contacts, an unpredictable regulatory environment, inconsistent enforcement of laws and policies, and a bureaucratic customs process that impedes the efficiency and reliability of the supply chain also add significant uncertainty to the market.Despite the recognition and need for economic diversification away from hydrocarbons, the Go A has shown a reluctance to speed up economic reforms that would enhance Algeria's business climate.
With regard to foreign trade, the Go A has taken the opposite approach, instituting protectionist policies to limit the outflow of capital from its declining foreign currency reserves, which further diminishes the attractiveness of the Algerian market.Other Investment Policy Reviews In the past three years, Algeria has not conducted an investment policy review through the Organization for Economic Cooperation and Development (OECD), the World Trade Organization (WTO), or the United Nations Conference on Trade and Development (UNCTAD).