The collapse in oil prices has weighed on the Algerian economy, giving rise to twin deficits in the budget and current account. In mid-2016 the government introduced a bold medium-term plan that targets a balanced budget by 2020, alongside a new growth model with a strategy for economic development and diversification by 2030. These moves have coincided with the private sector playing a much stronger role in the economy.
Algeria has attracted strong interest from foreign investors over the last few years. As a market of 40m people, which boasts substantial energy resources and maintains a steady demand for modern infrastructure supported by significant public investment, the country appears primed for significant growth in the coming years.
How will the new investment code affect the business climate in Algeria for foreign investors?
OBG introduces the reader to the different aspects of the legal system in Algeria, in partnership with Gide Loyrette Nouel. Samy Laghouati, Partner, Gide, on the new investment code.
Amid the constant change that has recently characterised North Africa, Algeria has charted a path of relative stability. This is largely due to vast oil and gas resources that have made it Africa’s fourth-largest economy.
The government intends to revise the legal framework applicable to foreign investments. What can be said so far of the new measures?
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