Investment: Bouchouareb receives representatives of US companies

APS : Tuesday, 11 October 2016
ALGIERS-Minister of Industry and Mines Abdessalem Bouchouareb held talks Monday in Algiers with representatives of various US companies operating in Algeria, and those interested in investment opportunities in the country, the ministry announced in a statement.
Bouchouareb received CEO of General Electric Jeffrey Immelt. GE engaged in a partnership to build the industrial complex of Ain Yagout specialized in the manufacturing of gas turbines, steam turbines, generators and command control systems.
The meeting focused on the progress of work and the opportunity to involve local Algerian companies through subcontracting, mainly the machining of parts.
Immelt reiterated GE’s readiness to “involve local operators and stressed that the group intends to export products manufactured in the aforementioned complex.”
Besides, GE is interested in broadening industrial activities in Algeria while taking part in joint-ventures involving the sector of energy, particularly the manufacturing of oil equipment.
Moreover, Bouchouareb met CEO of Blumberg Grain David Blumberg on the sidelines of the current talks to build grain storage warehouses in Algeria by the American company.
A delegation of US companies, who is in prospecting mission in Algeria at the initiative of the US-Algeria Business Council (USABC), was also received by the Minister.
This delegation is made of directors of the following US companies: Abbott, Aecom, Air Products, Arrakis Solutions, Celgene, DuPont, Global Venture, Lockheed Martin, Mars Company, Valvtechnologies, Philip Morris International and Caterpillar, the source said.
During these meetings, the minister made a presentation on the new investment framework in Algeria, the advantages it offers, opportunities provided by the national market and the possibility to support investors who intend to export and make Algeria a regional and continental hub.
Bouchouareb, “who highlighted the quality of relation between Algeria and the United States,” pleaded for “strengthening relations in the fields of economy, particularly industry and mines between Algerian and US companies, and partnerships.”
Besides, the same official underscored “the importance of partnerships, the promotion national subcontracting and the transfer of management and technology expertise,” the ministry stated.

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