Strong growth is making Algeria an attractive investment opportunity. The country has a well-educated work force. Its universities and technical colleges turn out some 40,000 graduates a year, including large numbers of engineers and skilled technicians. Most importantly, we have complex and developed industry that offers economy of scale not available elsewhere in the Maghreb. Fundamental Change Self-confidence is being restored throughout the country.
Newspapers are lively and critical.
Algeria was even chosen to host the 1999 conference of the Organization of African Unity, which was unthinkable only a few years ago. Women play an increasing role in business. Insurance and banking are the most significant industries to have been deregulated and restructured to date, reinvigorating the entire financial sector. The transformation from a socialist, centralized economy to a market economy was epitomized by the opening of the Algiers Stock Exchange in July 1999, which has become an important source of funding for privatization efforts. Even more significant, the government is courting foreign investors by using a formidable array of incentives, including tax benefits, tax credits and customs-fee remissions, and limitations on those investments have been scrapped.