In the face of each crisis, Algeria once again brings out the ghosts that hinder its development: bureaucracy, the immobility of the financial system, public ownership of land (“foncier”), eternally loss-making public companies, changing regulation, legal uncertainty, …. In short, intervention in the economy, with its tics and the result of inefficiency, blockade and corruption.
On this occasion, the hackneyed “opening to private investment of Algerian public companies” is reactivated. Plagued by obsolescence, mismanagement and unassumable social charges, Algerian public enterprises are a bottomless pit of unsustainable public resources.
Today, together with measures aimed at “removing all obstacles to investment, there will be a reform of the investment code, the fight against bureaucracy and the implementation of the single counter, give visibility and legal and institutional certainty to potential investors through regulatory reforms and simplification of procedures, reduction of deadlines and simplification of procedures for obtaining the “different” authorizations and accreditations required for the exercise of all kinds of activity”
Everything sounds very good, because it is the summary of the recurrent complaints of investors to the Algerian administration, which has been saying for decades that it “will solve” these problems.
THE WATAN 05/09/2021