Algeria's AAPI Pushes for Enhanced Cooperation Among MENA Investment Agencies

The Algerian Agency for the Promotion of Investment (AAPI) is seeking to strengthen cooperation among investment agencies in the Middle East and North Africa (MENA) region. AAPI Director General Omar Rekkache recently attended the 6th session of the Regional Networks of Investment Promotion Agencies subcommittee (SCRIPA) in Geneva. The meeting was part of the World Investment Conference organized by the World Association of Investment Promotion Agencies (WAIPA). Rekkache emphasized the need for a more active, structured, and effective network to drive common initiatives and tangible results.

Rekkache outlined three priorities to enhance the network's functioning and effectiveness. The first priority involves developing cooperation and sharing experiences among regional agencies through a network of focal points. This mechanism will facilitate regular exchanges, share best practices, and address common challenges in attracting investments, simplifying procedures, and supporting investors. The second priority focuses on increasing participation from regional agencies in defining and orienting WAIPA activities to better integrate MENA priorities into its annual program.

The third priority aims to revitalize the regional network and strengthen member engagement through sustained participation in WAIPA initiatives and activities. Rekkache invited member agencies to submit concrete proposals for common investment promotion activities, economic forums, business meetings, and investment missions. He also emphasized the importance of valuing the region's economic potential and complementarity to create a genuine regional cooperation space.

As the MENA regional director, Rekkache reaffirmed his commitment to working closely with WAIPA's secretariat and member agencies to translate priorities into concrete projects and initiatives. He highlighted the region's significant economic potential, complementarity, and investment opportunities. Rekkache called on regional agencies to fully engage in this effort and move beyond exchanging experiences to implementing common initiatives and projects.

In addition to promoting regional cooperation, AAPI has also focused on mobilizing the Algerian community abroad to invest in the country. A meeting was held in Geneva under the theme "Investing in Algeria: Opportunities and Perspectives," organized by the Algerian Consulate General and AAPI. The event brought together 273 members of the Algerian community in Switzerland, including investors, project leaders, entrepreneurs, and businesspeople.

The meeting aimed to promote investment opportunities in Algeria and explore prospects for developing economic partnerships and joint investments between Algeria and Switzerland. Algerian State Secretary for the National Community Abroad Sofiane Chaib participated in the event via videoconference. The gathering was part of efforts to showcase Algeria's economic opportunities and encourage investments from the diaspora.

AAPI's efforts to promote Algeria as an investment destination and enhance regional cooperation reflect the country's commitment to attracting foreign investments and fostering economic growth. The agency's initiatives aim to create a more favorable business environment and capitalize on the region's economic potential. By strengthening ties with regional investment agencies and engaging with the diaspora, Algeria hopes to increase its appeal to investors and drive economic development.

Key points

• AAPI Director General Omar Rekkache emphasized the need for a more active, structured, and effective network to drive common initiatives and tangible results in the MENA region.