The main objective of the Embassy’s economic section is to contribute to the development of bilateral economic relations between Algeria and Ireland and foster bilateral cooperation in commercial and investment partnerships with an emphasis on the promotion of Algeria as a dynamic export-oriented economy for goods and/or services into the Irish market. As well as the presentation of Algeria as an attractive business partner and a suitable place for inward direct foreign investment (FDI).
The Trade and Investment Section provides advice, guidance and support relating the business climate in Algeria and offers a helping hand for Irish businesses including traders and investors intending to find their way to potential business partners.
Also, the section participates in the preparation of trade fair/exhibitions and events of economic and commercial nature.
Various opportunities for your business in Algeria
Economically, Algeria is one of the fastest growing economies in the world. It is rapidly becoming an attractive destination to foreign investors. Being an open window to Europe through the Mediterranean Sea and a gateway to Africa endows Algeria with a strategic geographic location facilitating international exchange at all levels, hence offering a wide range of economic partnership opportunities.
Algeria is the largest country in Africa in terms of land mass. It offers a huge untapped natural resource, large domestic market and young and skilled work force. In line with the country’s consistent efforts to encourage and facilitate overseas investments, Algeria adopted a new Investment Law No. 22-18 on 24 July 2022 (the “Law”) replacing the prior 2016 investment law. This change will facilitate, streamline and stimulate foreign direct investments.
The New Investment Law specifies that the bodies in charge of investment in Algeria are:
· The National Investment Council (NIC): Responsible for providing strategic advice on investment, ensuring its overall coherence and assessing its implementation