The Regional Representative for the Maghreb and Sahel region of the Multilateral Investment Guarantee Agency (MIGA)—a member of the World Bank Group—Cheikh Tidiane Diagne, arrived Monday in Algiers, where he was received by the Director General of the Algerian Investment Promotion Agency (AAPI), Omar Rekkache.
During their session, the two officials examined opportunities for cooperation and explored the foundations of an operational partnership designed to support investment promotion efforts and bolster Algeria’s appeal as an investment destination, according to an AAPI press release. Within this framework, Omar Rekkache delivered a presentation on the major structural reforms initiated by Algeria to improve the business climate. He specifically highlighted the new investment law, the single-window investor mechanism, and various provisions aimed at streamlining procedures while raising transparency and efficiency in handling investment projects.
Furthermore, Rekkache reviewed the investment opportunities available in Algeria across priority sectors, including manufacturing, pharmaceuticals, agriculture, agribusiness, mining, renewable energy, tourism, and information and communication technologies (ICT). The statement added that he underscored the “promising” prospects these fields offer for productive and sustainable investment. The discussions also covered support mechanisms and incentives granted to both domestic and foreign investors, alongside Algeria’s framework for investment guarantees and the role of sovereign wealth funds in driving economic momentum.
For his part, the MIGA representative praised the reforms undertaken by Algeria to improve its investment climate, noting that they strengthen the country’s attractiveness for foreign direct investment (FDI) and align closely with his institution’s objectives to encourage capital flows into member states.
At the conclusion of the meeting, both parties agreed to establish an institutional cooperation framework. This framework will define priority partnership areas and promote the exchange of expertise and data, aiming to attract high-value, job-creating local and foreign investments. As an arm of the World Bank Group, MIGA provides political risk insurance and credit enhancement guarantees against non-commercial risks to investors, helping facilitate investment flows into member nations, including Algeria.