Algeria approved new projects worth around 3.34 billion Algerian dinars ($25 million) in the first five months of 2024, a government official said on Friday.

The Algerian National Investment Promotion Agency granted licenses to 7,230 projects primarily in the SME sector, the Agency’s Director General Omar Rakash said in a statement carried by Elkhabar newspaper.

Nearly 65 percent of the new projects have a capital of around DZD150 million ($1.12 million) covering industry, agriculture and other sectors, Rakash said.

(Writing by Nadim Kawach; Editing by Anoop Menon)


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