ANDI: 9% increase in investment projects in H1 2012

Investment projects reported in the first half of 2012 rose by 9%, totaling 4,275 projects worth DZD410 billion against 3,922 projects in the same period in 2011, described as "the year of recovery" during which investments had almost tripled in terms of amount, Andi said Tuesday. These new projects include the creation of more than 47,000 permanent jobs, Abdelkrim Mansouri, Director General of National Agency for Investment Development (Andi) told APS. As for investments involving foreigners, they are limited to six (6) projects totaling 34 billion dinars and to create about 1,230 jobs. Approved by the National Investment Council (CNI), they were introduced in accordance with 49/51% rule introduced by the CFL in 2009, which gives the majority stake to national resident shareholders, says Mansouri. The countries involved in these partnership projects are Spain and France with two projects each, Finland and Lebanon with a project for each country, he added. By business and in terms of employment, the transportation sector accounts for 52% of returns during the first six months of 2012 for a total investment of 34 billion dinars. In terms of amount, the industrial sector accounts for 54% with 608 projects and a 37% share in terms of employment, says the CEO of the agency. The balance of investment declarations shows a concentration of projects in the north (2,722 projects) with 1,604 projects at the Centre which 453 only for Tizi-Ouzou, which has held the top spot in terms of attractiveness before Algiers who received only 311 projects in the first half of 2012. Moreover, the Agency noted that 1,731 reported projects have been localized in the zones to be developed, including 795 projects in the South and 936 others in the High Plateau zones. This progress dubbed, "remarkable" of the attractiveness of the zones to be developed is explained by Mansouri, "by the result of a new device set up since December 2011 after the Cabinet decision.