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Get to Know About Algeria
Algeria is a quickly developing country, located in North Africa, and ranked as one of the most prominent Arab nations in the world. The nation’s northern coast has a very favorable Mediterranean climate and is the most populated. Algeria’s natural gas reserves are among the world’s largest and its economy depends to a large extent on hydrocarbons.
Literacy rates are improving in Algeria after primary education has been made compulsory for all. Foreign investors do not experience difficulty in communicating as the people there are also familiar with English and French, along with the official language Arabic. Algeria’s efforts to develop new sources of energy are even flourishing especially solar energy.
A huge percentage of Algeria’s population comprises of young people, and this gives a significant advantage for doing business in Algeria, as a form of the potential workforce. In recent years there also has been an improvement in the political and social scenario, which is a big plus point. Furthermore, in the last decade, Algeria has introduced new laws to promote investments by foreign nations. This is why Algeria is attracting many foreign investors, thereby boosting the overall economy of the country.
But, along with these benefits, there are some disadvantages, especially in the form of increased corruption and slow functioning of the public sector. Taxation rules are also not simple, and limits have been set for foreign and direct investment.