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Despite the local majority ownership requirement, authorities argue that the law is not an impediment to attracting foreign investment and is needed to diversify investment in Algeria’s economy, foster private sector growth, create employment for nationals, transfer technology and know-how, and develop local training initiatives.Additionally, the Go A argues, and some foreign investors agree, that a range of tailored measures mitigate the effect of the 49/51 rule and allow the minority foreign shareholder to exercise other means of control.
Limits on Foreign Control and Right to Private Ownership and Establishment Foreign and domestic private entities have the right to establish and own business enterprises and engage in all forms of remunerative activity.
However, the 49/51 investment law requires a majority of Algerian ownership of at least 51 percent in all projects involving foreign investments.
The Go A has targeted non-hydrocarbon sectors for both public and private investments, with an emphasis on attracting greater foreign direct investment for projects that would directly boost employment and cut imports.
Private sector contacts acknowledge that multiple sectors potentially offer substantial opportunities for long-term growth for U. firms with many having reported double-digit annual profits.
The website, however, is currently only in French and Arabic.
The website lists a maximum of 9 steps involving 7 agencies and taking approximately 14-15 days to register a firm in Algeria, while the World Bank’s Ease of Doing Business report lists 12 procedures lasting up to 20 days.
This requirement was first adopted in 2006 within the oil sector and was expanded across all sectors by 2009.
According to Go A officials, the law seeks to diversify local economic production and profit while retaining national economic pride and requires a "plowing back of profits" to restrict capital flights and ensure additional local economic growth.
Incentives are listed by the National Agency for the Development of Investment (ANDI) on its website, as well as on the websites of economically oriented ministries.