selected business news
"New Algeria rules squeeze foreign contractors"
Posted July 17, 2010 by Lindsay Roberts
By: Lamine Chikhi, Arab News
Aiming to strengthen the country’s economic nationalism, Algeria released an official statement enacting a series of measures that will benefit domestic firms by making it more difficult for international contractors to win contracts from the state. Recently, Algeria launched a multi-billion dollar investment plan dedicated to modernizing the state and spark economic growth. The measures will give Algerian companies larger stakes in the nation’s economy, reduce unemployment rates and help to fight corruption and violence. The measures do not apply to the energy sector.
