Algeria is planning to create an online platform with the aim of promoting joint ventures among local and foreign companies, an official said in press comments on Tuesday.

The Algerian Investment Promotion Agency, a government investment arm, will set up the “Partnership Bourse” on its website, its Director General Omar Rakash said.

“We will soon set up this platform with the aim of facilitating contacts between Algerian and foreign investors to allow them to set up joint ventures,” Rakash said, quoted by Elkhabar newspaper and other Algerian publications.

Rakash explained that the “ambitious” project is a “mechanism” for Algerian and foreign businessmen and investors to present their project ideas and discuss possible joint ventures in Algeria.

As for the date of starting the platform, he said it would materialise just after the approval of a new law governing land and other property offered to investors.

“Work is under way to ensure this ambitious project will materialise as soon as possible…in the beginning, it will be confined to project registration and associated services…afterwards, the Partnership Bourse will be fully active,” he said.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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