Algerian Cabinet of Ministers Approves Draft Investment Law

The Algerian Cabinet of Ministers has reportedly approved a new draft investment law. The new law is intended to improve the business climate for foreign investment in Algeria overall, and includes the following main measures:

• A number of requirements concerning foreign investment will be abolished, including:
  • The requirement that for foreign investments made prior to 2009, the foreign ownership must be adjusted to meet the 49% foreign ownership cap (introduced in 2009) when a change is intr…