Algerian President Abdelmadjid Tebboune stressed the importance of the expected constitutional amendment in adopting legal mechanisms to fight corruption by all possible legal means, to establish a healthy work environment fortified with values and ethics.
Tebboune clarified in statements that the justice system is in charge of the legal and judicial protection of investments, in order to be effective in protecting the rights of individuals and institutions, and settling disputes with the required speed within the framework of the law. This would provide the appropriate environment to encourage investments in all sectors and regions of the country.
He added that amending the constitution would enhance justice in society, strengthen the bridges of trust with business investors, encouraging young people to establish macro and microeconomic institutions, thanks to modern technologies.
Tebboune also noted that legal and judicial protection and foreign investments would also attract foreign investors, enabling the transfer of technology and knowledge while localising it, especially as Algeria has signed dozens of agreements preventing double taxation to protect investments.
Tebboune stressed that the protection of foreign investment is guaranteed through his country’s accession to several relevant international agreements, and to the bilateral agreements signed with more than 50 countries. He also revealed that the investments and trade that the Algerian constitution has entailed calls for more: “Protection and promotion of the interests of the national economy.” All of this will be taken into account in the next constitutional amendment.
Tebboune issued a decision in January to establish a committee of experts charged with drafting proposals to review the constitution. This would propose any measures ensuring the independence of judges, strengthening the rights of citizens, improving public life, rehabilitating supervisory and consulting institutions to submit the summaries of their works, within a maximum period of three months from the date of appointment, so that these amendments are referred to Parliament for approval and then for a popular referendum.