Investment: FCE strongly supports revision 49/51 rule

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ALGIERS- The revision of the rule 49/51 governing foreign investments in Algeria has received a strong support from the participants in the 5th Summer University of the Business Managers Forum (FCE), held Saturday in Algiers.

During a press conference, held on the sidelines of this event, FCE President Mr. Sami Agli assured that “his organization had been advocating since 2009 the revision of this rule, which hampers foreign investment”, because he said, “we consider that it is up to the partners to manage their relationships and the sharing of actions, except in the case of strategic sectors”.

According to the same official, the economic climate for this situation requires, more than ever, a serious reflection and the examination of all alternatives with a view to find the appropriate solutions to ensure a safe and sustainable recovery of the national economy.

The lifting of the constraints set out in the 51/49% rule should improve the attractiveness of the national economy, he said.

Regarding the other new proposals of the Draft Finance Law 2020, the Head of the FCE warned that any increase in taxes at this time is “a negative message” for investors and the national economy in general.

Asked about the politicization of the FCE, Mr. Agli replied by stating that “his organization is apolitical and will remain so”.

He nevertheless affirmed that “every member of the Forum is free to have his own political points of view and to take individual positions”.

Mr. Akli insisted that “being apolitical does not mean that we are not concerned by the country’s political situation”.

APS

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