Petroleum Africa
Find us on: 
Monday, November 17, 2014
Another new investment law is in the works for Algeria, this time the investment law will be aimed at edging the country away from its dependence on oil and gas revenues and improving its business climate to attract a different sort of foreign investment.
The measure is part of wider reforms intended to diversify the economy and better comply with international standards, Abdelkrim Mansouri, head of Algeria’s investment body, the National Agency of Investment Development (ANDI) told Reuters.
Algeria’s system is bogged down red tape and bureaucracy which makes it hard to attract new foreign investment to the country. “After diagnosing the business environment, the government is now launching a vast revival program,” Mansouri was quoted. “A new investment law is under discussion.”
Mansouri gave no date for the new law’s finalization but said it will be implemented as soon as parliament approves it.
" alt="Africa’s $824 Billion Debt Burden and Opaque Resource-Backed Loans Hinder its Potential">
" alt="African Refiners Ponder Threats to Energy Security for Africa as Transition Takes Center Stage">
" alt="Invictus Inks Gas Sales MOU to Deliver Power to Eureka Gold Mine">
" alt="Globeleq Acquires the 25 MWp Winnergy Solar PV Plant in Egypt">
" alt="Sintana Completes Well Testing at Mopane 1-X in Namibia">
" alt="Infill Drilling to Resume at the Ceiba Field in Equatorial Guinea">
" alt="Uganda National Oil Company Appoints New Executive">
" alt="World’s First Ammonia Dual-Fuel Aframaxes to be Developed by MISC">
