Algeria is looking to amend its 51/49 ownership law to allow foreign firms a majority stake in “non-strategic” sectors of its economy, according to details of the draft 2020 budget law released by the government on 11 September.
If implemented, the measure would likely increase foreign direct investment (FDI) into one of the region’s most closed economies. But key energy and defense industries will almost certainly be excluded. Energy Minister Mohamed Arkab has already confirmed that the long-delayed hydrocarbon law aimed at opening up the oil and gas sector will retain the 51/49 rule (MEES, 7 June). (CONTINUED - 156 WORDS)
