Prime Minister Ayman Ben Abdelrahman stressed, in a meeting held today, Tuesday, in Washington, with American businessmen, that Algeria has now become a “real investment destination,” reiterating the state’s determination to “protect investors and provide all conditions for successful investment.”
In a meeting held on the sidelines of his participation in the works of the first day of the American-African summit, Mr. Ben Abdelrahman said that Algeria “has now become a real investment destination thanks to the reforms embodied by the government,” highlighting the new legal and regulatory framework that establishes – as he said – “important principles In particular, the freedom to invest, and allows everyone, without exception, full freedom to choose investment, while establishing transparency and equality in dealing with investments.
He added that the new legal framework establishes a higher national committee for investment-related appeals at the Presidency of the Republic, which reflects – as he added – “the state’s determination to protect the investor and provide all conditions for investment success.”
On the same occasion, the Prime Minister commended this “important” meeting, which demonstrates “the common will between the Algerian and American sides to promote bilateral partnership and develop cooperation in various fields,” considering that such meetings “embody the directives of the President of the Republic, Mr. Abdelmadjid Tebboune, In strengthening relations and cooperation with Algeria’s partners, especially the United States of America, with which Algeria shares a common political will, we must exploit it to upgrade the economic content of the bilateral relationship between the two countries.
Mr. Ben Abdelrahman affirmed Algeria’s aspiration to “exploit all opportunities for integration between the economies of the two countries, raise the volume of investment on the basis of the win-win principle, and increase and diversify the value of trade exchanges.”
He added that the meeting comes in a context marked by “a great dynamism that characterizes bilateral relations, especially through the organization of bilateral cooperation mechanisms, especially the seventh session of the Algerian-American Government Council for Trade and Investment, which reached important results and recommendations that must be implemented according to a specific timetable.”
He mentioned that Algeria is “the third trading partner of the United States of America in Africa, as the volume of trade exchanges between the two countries during the first nine months of this year amounted to 3.1 billion US dollars, a significant increase compared to last year.”
With regard to investment, the Prime Minister noted that the American presence in the Algerian market “is still far from the capabilities of the two countries and the investment opportunities offered by the Algerian market, as American investments remain lagging behind in terms of the value and number of investment projects and the number of jobs they provide, during the last twenty years.” .
He touched on the various incentives and advantages provided by the investment climate in Algeria, such as the low cost of factors of production and energy, the qualified labor force, as well as the important transport infrastructure through various means.
He also noted “the great importance that Algeria attaches to achieving regional integration,” and its encouragement of all investments that contribute to achieving its goal of diversifying the national economy and non-hydrocarbon exports.
He continued, “There are many opportunities that can be exploited in the sector by encouraging the establishment of more small and medium enterprises, as well as small and emerging enterprises, in addition to the vehicle industry in line with Algeria’s ambition to achieve a real industry in this field, taking into account its success factors, especially the rate of integration and technology transfer.” and the development of handling,” recalling the special attention that Algeria attaches to the sectors of housing, tourism, the pharmaceutical industry, fishing and aquaculture.
At the end of his speech, the Prime Minister expressed his certainty that “communication between businessmen in the two countries and Algerian and American economic operators, with support from the governments of the two countries, would achieve the qualitative and effective transition that we aspire to embody in the partnership between the two countries.”
In response to inquiries from American businessmen, Mr. Ben Abdelrahman said that Algeria managed to achieve a growth rate of 4.9 percent, calling on them to “accompany the government’s efforts to achieve the goal of achieving a double-digit growth rate.”
He also mentioned the improvement of the business climate in Algeria, “which is confirmed by various international financial bodies”, reiterating that the main objectives of the government are to achieve “health, food and energy security”.
The Prime Minister highlighted the prestigious position that Algeria currently occupies in “achieving energy security for Europe” and its support for promising investments in Africa, as it is the great gateway to global markets.
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