Algerian curbs on foreign contractors now in force

A series of measures came into force in Algeria on Thursday that will make it harder for international firms to win lucrative construction and engineering contracts in the energy exporting country.

Algeria has said it will spend $286 billion on modernizing the economy over the next five years, and firms including SNC-Lavalin, Siemens and Alstom are likely to bid for public works contracts.

Reuters says the new rules, which govern how the contracts are awarded, are part of a shift in Algeria towards greater economic nationalism. Officials say they want to give fair opportunities to domestic firms to compete for business.

The measures were published on Thursday in the official gazette, which means they have now entered into force. They do not apply to the energy sector.

Source:http://www.punchng.com/Articl.aspx?theartic=Art2010102911574073