Chinese companies seek to invest in car industry in Algeria

Beijing (China)- Several Chinese companies operating in various fields, including car industry and information and communication technologies, have expressed wish to invest in Algeria, the Algerian ambassador to China,
Ahcene Boukhelfa, said Saturday.
“Many Chinese companies working in various economic areas have expressed their interest to invest in Algeria, through key production capacity projects in the manufacturing of light cars, heavy trucks and buses,” Boukhelfa told Algerian reporters on a visit to China as part of a partnership agreement between Algerie Telecom and the Chinese telecom company Huawei.
The Algerian diplomat said more than 1,000 Chinese companies are based in Algeria.
“We want Chinese presence in Algeria to be even more important through direct investments and the involvement of Chinese investors in governmental projects and other projects contributing to the development of national economy.”
Many Chinese firms seek to invest in Algeria, which offers significant advantages, such as skilled workforce, lower wages, cheap energy and proximity to African and European markets.
Boukhelfa underlined the large number of Chinese working in Algeria, saying that 55,000 entry visas were granted in 2016 to Chinese workers and executives.

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