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Article: Algeria - Bouteflika's U-Turn On Foreign Investors.
- Article from:
- APS Review Downstream Trends
- Article date:
- March 2, 2009
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In a speech in July, still confident that resource nationalism was the best option, Bouteflika indicated a reversal of his nine-year championing of the cause of foreign investment. Under his watch, Algiers had established a national agency for investment development, introduced laws for private investment in the electricity, mining and petroleum sectors, and overseen the return of IOCs despite a devastating civil war. But in one speech, he turned everything on its head.
Addressing leaders of the country's local authorities, Bouteflika said foreign investors were not looking after the interests of Algeria. Admitting the country's economic policies in previous ...