Algeria-UAE: Economic operators willing to engage in promising partnership projects

APS : Tuesday, 22 November 2016
ALGERIA-Algerian and Emirati operators taking part in the 2nd Algeria-UAE investment Forum Monday in Algiers expressed their willingness to engage in bilateral partnership projects in promising sectors like agriculture and renewable energy.
Speaking at a forum, representatives of economic operators of both countries unanimously highlighted multiple partnership opportunities between Algeria and UAE, stressing that these opportunities have not been fully exploited although they witnessed a development in the recent years.
The amendment of the investment law and the measures taken under the new economic model that has been recently adopted by the Government to face the financial crisis induced by the fall in oil price, constitute “a real opportunity” likely to encourage Emirati investors and companies to engage in partnerships with their Algerian counterparts.
Deputy Secretary General of the UAE Union of the Chambers of Trade and Industry called on Emirati countries to seize the “exceptional opportunities” offered by Algeria, thanks to the its natural wealth, to benefit from incentives decided by the Algerian government.
The sectors of agriculture, renewable energies, tourism, health and transport are among the sectors Emirati operators are willing to invest in.
Secretary General of the UAE Union of the Chambers of Trade and Industries Hamid bin Mohamed bin Salem pointed out the interest shown by the Emirati delegation made up of private companies in the opportunities offered by the Algerian market in all fields.
“El Dahra Holding,” a company working in the agricultural field, is among the companies that are willing to invest in Algeria. This company has drawn up a strategy to implement projects in livestock feed and food products as from 2017,” stressed the company’s manager Slimane Nouaimi.
The Algerian party emphasized the need for reviving the agreements inked between the two parties in several fields.
In this regard, President of the Business Leaders Forum (FCE) said that it was time to give an impetus to change the current state of economic and trade relations marked by low trade exchanges profitable to one party only.
The 49/51 rule governing investment is not unfair as it provides exceptional advantages to investments that bring wealth and jobs.
President of the Algerian Chamber for Trade and Industry Mohamed Laid Benamor highlighted the importance of lifting obstacles that hinder bilateral partnership.

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