Algeria has published Executive Decree no. 21-145 in the Official Gazette, which provides the final list of strategic activities/sectors in relation to the country's foreign investment rules. The rules regarding the 51%/49% ownership restriction for foreign investment in Algeria were relaxed as part of the 2020 Finance Act, except for strategic activities/sectors, i.e., foreign investment (ownership) in strategic activities/sectors is limited to 49%. In this context, the final list of activities considered strategic include:

• Activities related to the pharmaceutical industry sector, including manufacturing of pharmaceutical products and medical devices, wholesale of such products and devices, contract research, and certain others;
• Activities related to the energy and mining sector, including extraction and transport of liquid and gaseous hydrocarbons, extraction and preparation of iron ore, bauxite, precious metal ores, other various metal ores, uranium ore, various mineral products, and others, as well as coal mining and stone quarrying; and
• Activities related to the transport sector, including rail, air, and maritime transport of passengers and goods, as well as handling, land transport infrastructure management, port and airport services, and others.

The Executive Decree also provides that the restrictions apply for military industries under the economic sector of the Ministry of Defense.