Investments doubled in Algeria

Investments announced over the first quarter of 2014 in Algeria has more than doubled reaching DZD682 billion, DZD129 billion in direct foreign investment (FDI), against DZD305 billion in the same period in 2013, showing the fresh impetus given to investment through government's facilitations, according to the National Agency for Investment Development  (ANDI). During the first quarter of the year, a total of 2,632 investment projects have been announced, estimated at DZD682 billion, and which are expected to create more than 51,600 jobs according to ANDI. Local investments represent the lion's share with 2,615 projects nationwide, which account for 99.4% of the announced projects, worth DZD553 billion (81%), and are expected to create about 40,500 jobs (78%). Regarding direct foreign investment, Algeria has drawn, over the first three months of the year, 17 investment projects with a total of DZD129 billion (about USD1.8 billion) and are due to create more than 11,100 direct jobs, the investment agency underlined.