In a significant development, Annaba Province has handed over 15 contracts for the use of industrial and tourist real estate to the Algerian Investment Promotion Agency. This move is part of efforts to clean up and recover economic real estate, with the aim of promoting investment and creating jobs. The handover was overseen by Abdel Karim Lamouri, the Wali (Governor) of Annaba Province.
The contracts were awarded following a meeting chaired by the Prime Minister, which focused on inventorying and cleaning up economic real estate. The Algerian Investment Promotion Agency in Annaba has been working to monitor and hand over concession contracts to investors with new industrial projects in the Ain Sid area and tourist projects in tourist expansion areas.
Recent developments have seen several concession contracts awarded, covering an area of 13,380 square meters for the creation of a modern industrial unit for vegetable and fruit processing, and 6,003 square meters for a unit producing various mineral chemistry materials. Other projects include the manufacture of electrical wires, household appliances, wood processing, and the creation of kitchens.
The Algerian Investment Promotion Agency's efforts aim to provide investors with suitable and obstacle-free economic real estate, in line with adopted procedures, particularly through the investor's digital platform. This facilitates the implementation of investment projects and accelerates their entry into activity, supporting economic development and job creation in Annaba Province.
The province's authorities have also been working to launch several investment projects in industrial areas, including Ain Sid, and monitoring projects that have obtained construction permits and are in the implementation phase. This aims to overcome obstacles and accompany investors, in coordination with study offices responsible for monitoring.
The realization of these projects is a result of the state's efforts within the framework of the 2022-18 Investment Law and the 2023-17 Economic Real Estate Law. The Algerian Investment Promotion Agency in Annaba is preparing to grant building permits to over 20 new investment projects, allowing them to move into the implementation phase.
In related news, Annaba Province's authorities, in coordination with the Industry Directorate, have transferred 39 industrial properties to the National Investment Promotion Agency, making them available on the national platform for investors to implement their projects. This move is part of efforts to clean up investment files, recover industrial real estate, and include new real estate containers in the list.
Key points
- Annaba Province hands over 15 contracts for industrial and tourist real estate
- Efforts aim to promote investment, create jobs, and support economic development
- Province to grant building permits to over 20 new investment projects
