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Algeria introduces new rules for foreign investors

07 Sep 2010

(MENAFN) The Algerian government has announced that it will to require any foreign company seeking a share of its $286 billion infrastructure budget to form a joint venture with an Algerian firm to qualify for state contracts, Reuters reported.

The measure, included in a newly-published law, is the latest sign of Algeria’s shift towards greater economic nationalism, which has already seen government pressure applied to some foreign investors.

The new rules do not apply to existing contracts, but could create complications for firms when they tender for new business.

Algeria has already announced a separate series of rules giving preferential treatment to domestic firms over foreign rivals when bidding for state contracts.

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