Algerian President Abdelmadjid Tebboune emphasized the significance of investment projects registered with the Algerian Agency for Investment Promotion, highlighting their expected role in supporting national production, creating jobs, and enhancing the country's foreign currency reserves. During his regular meeting with national media representatives, broadcast on national television and radio channels, President Tebboune noted that these projects cover various categories, from small and medium-sized enterprises to large-scale projects.
President Tebboune revealed that 10,000 excellent projects are currently underway, demonstrating the country's growing investment landscape. He also pointed to a surge in foreign investment, with the Algerian Agency for Investment Promotion recording 300 projects linked to foreign investors. The implementation of these projects is expected to increase production levels and create more job opportunities, contributing to the country's economic growth.
The President considered this investment momentum as a reflection of the Algerian economy's recovery and regained confidence, noting that Algeria has opened up to Arab investors. This development is seen as a positive indicator for the country's economic prospects, with the President expressing optimism about the potential for growth and development.
President Tebboune also discussed the integrated phosphate project, highlighting the progress made in valorizing this natural resource. He reported that work on the railway line linked to the project is advancing, with completion expected by the end of this year, at the latest. The project aims to enhance the country's phosphate production and export capabilities.
Regarding the expansion of the Annaba port, part of the integrated phosphate project, President Tebboune stated that work is progressing at a pace that would allow for the project's completion by the end of the first quarter of 2027. A Chinese company is set to begin installing equipment and machinery for phosphate exports this week, marking a significant milestone in the project's development.
The President's announcement underscores the government's efforts to stimulate economic growth through investment and infrastructure development. With a focus on job creation and increased production, the Algerian government aims to strengthen the country's economic foundations and improve living standards for its citizens.
The implementation of these investment projects is expected to have a positive impact on Algeria's economy, contributing to the country's sustainable development and growth. As the projects move forward, they are likely to attract further investment, both domestically and internationally, reinforcing Algeria's position as a key player in the regional economy.
Key points
- Algeria has 10,000 excellent investment projects underway, according to President Tebboune.
- The projects aim to boost national production, create jobs, and increase foreign currency reserves.
- Foreign investment in Algeria has increased, with 300 projects linked to foreign investors recorded by the Algerian Agency for Investment Promotion.
