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Algeria attracts $3.1bn in FDI in six months

Staff writer |
Algeria attracted $3.1 billion of foreign direct investment (FDI) in the first half of 2013, APS news agency reported, citing the National Agency for Investment Development.

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The figures show that as many as 31 projects were launched by foreign investors from January to June 2013, which help created 7385 new jobs.

Qatar overtook France to become the top foreign investor in Algeria, accounting for 74.31 percent of the total investment projects.

Arab countries accounted for the majority of Algeria's FDI in the first half of 2013 with 78.45 percent of the total, compared to 11.12 percent from Europe, which topped the list in 2012 (85.36 percent).

Asian countries accounted for 9.70 percent of the total FDI, APS said, noting that they recorded no project last year.

Algeria's industrial sector attracted the majority of foreign investment (94.54 percent), followed by the tourism sector (3.28 percent), and then services (1.39 percent).

The Director of the National Agency for Investment Development, Abdelkrim Mansouri, predicts Algeria's FDI will reach $4.06bn by the end of 2013, APS reports.

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