Arkab from Beijing: The current indicators make Algeria an important market and a strategic country to attract investors

Minister of Energy and Mines Mohamed Arkab said Wednesday in Beijing that the current economic indicators make Algeria an “important market and a strategic country” to attract investors, considering that the Algerian-Chinese relations in the field of energy and mines are “distinguished and exemplary”.
Arkab said in a speech during the Algerian-Chinese Business Forum that “all current economic indicators make Algeria an important market and a strategic country to attract investors,” highlighting “economic stability, modern infrastructure with international standards and ambitious sectoral strategies” in Algeria, as well as “competitive and qualified human resources” production costs.
He also explained that Algeria has taken several measures aimed at “achieving strategic goals, adapting investment advantages, and improving the business climate to attract foreign capital that carries technology and experience.”
He pointed out that the Algerian-Chinese relations in the energy and mining sector are “distinguished and exemplary, which is reflected – as he said – in the projects embodied by the two countries in the field of research and exploration for hydrocarbons, mines and petrochemicals,” highlighting in this context the “successful partnership” between Sonatrach and many Chinese institutions.
On the occasion, the minister called on Chinese companies to “more engage and attract technologies” in the energy sector, mines and manufacturing industries, while working to establish new partnerships.
For his part, Minister of Post and Telecommunications, Karim Bibi Treki, affirmed that Algeria has made, in recent years, “significant efforts to modernize and develop its information and communication technology infrastructure,” noting that the investments made in this field were “an opportunity for the contribution of many Chinese companies to the completion of many important projects.”
After Mr. Karim Bibi Triki revealed the Internet penetration rate in Algeria, which is “one of the best rates in the Middle East and Africa,” he stressed that Algeria “is determined to play the role of the regional hub for information and communication technology, and looks forward to achieving this in partnership with China.”
For his part, Minister of Trade and Export Promotion, Tayeb Zitouni, stated that the state visit of the President of the Republic to China “has achieved excellent commercial and economic results,” noting that “it was agreed between the two countries to define a list of national products that are exported to China,” which includes agricultural and pharmaceutical materials, building materials, and materials converted from hydrocarbon derivatives.
Zitouni called on economic dealers to “take advantage of this agreement and work to raise the volume of Algeria’s exports” to the Chinese market.
On the other hand, Minister of Industry and Pharmaceutical Production Ali Aoun highlighted that the signing of several new agreements between Algeria and China, including those related to the construction of factories by the private sector, “is encouraging to carry out a renaissance in the industrial sector,” noting that the new investment law that grants many facilities and advantages “reassured Chinese dealers to establish a new economic and industrial partnership with their counterparts from Algeria.”
As for the head of the Algerian Council for Economic Renewal, Kamal Mawla, for his part, announced the establishment of an Algerian-Chinese business council with the aim of “strengthening ties between the various economic actors” in the two countries, noting President Tebboune’s keenness to “encourage and strengthen economic cooperation with China.”
And after Mr. Mawla pointed out that the business climate in Algeria recorded a “remarkable improvement” thanks to the reforms initiated by President Tebboune, he called on Chinese institutions to raise the level of economic cooperation with Algerian economic operators and to take advantage of the capabilities and advantages offered by Algeria.
At the end of the Algerian-Chinese Business Forum, 12 cooperation and partnership agreements were signed between Algerian public and private institutions with their counterparts from China, concerning projects in several sectors, including information and communication technology, the pharmaceutical industry, energy, transportation and food industries.