APS : Wednesday, 07 February 2018
ALGIERS- The French economy and companies remain marked by certain reluctance in terms of investment abroad and have to work to gain market shares abroad, including the Algerian market,
admitted Wednesday in Algiers President of the Medef Pierre Gattaz.
Hosting a news conference, following a Business Forum bringing together about 50 companies of the Medef (the Movement of Entreprises of France) and FCE (The Forum of the Algerian Managers), Gattaz said that the competition imposed by foreign companies in Algeria, especially the Chinese, Turkish and Spanish, challenges the French companies and also encourages them to overcome their reluctance.
“We are part of an international competition and we, as the French companies, have to show certain humility because some competitors are very good, very fast and very flexible,” he said.
He also acknowledged that the French economy “must be less reluctant, working more on export and more global.” “It’s our weakness now,” he said.
Moreover, Gattaz said that the Medef was ready to accompany the Algerian economy in its diversification process.
“We are waiting for signals that would make life easier for local businesses and investors,” he added.
These (signals) concern the procedures related to payment, repatriation of foreign currency, import restrictions and the 51-49% rule.
However, the president of Medef affirmed that he was reassured that the “51-49% rule should not represent a major obstacle to investors in Algeria.”
Gattaz has acknowledged that there are some French companies present in Algeria, which have managed to circumvent this rule.
As for him, FCE President Ali Haddad, who co-hosted the press conference, reiterated the FCE commitment to the “49-51%” rule which, he said, “protects the Algerian companies and does not prevent the conclusion of partnerships.”