24 billion dollars Arab investments in Algeria

Arab investments in Algeria witnessed a « remarkable » development in 2002-2008 and benefited from the government’s measures taken since 2001 to improve investment environment.

• According to figures from the National Agency of Investments Promotion, Algeria had 339 direct investment projects in 2002-2008 worth more than $24 billion.
• The Arab direct investments focused on industry, water desalination, fertilisers manufacturing, ammoniac, cement factories, food industries, agriculture, tourism, catering, banks, insurance companies and transport, said the same source.
• Chief of the Algerian industrial and commercial chamber Ibrahim Ben Djaber the Arab investments developed thanks to the improvement of regulating factors.
• “Algeria can attract more important Arab investments within the next few years by focusing on promoting the Algerian destination and taking off hindrances including the real-estate question,” he told Echorouk.
• He criticised promotion campaigns of the Algerian destinations by Algerian diplomatic in the Arab region, describing them as “weak” and adding that he noticed this problem on his visits to the Arab Gulf.
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• Emirati and Egyptian on the list top
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• According to the agency, tourism and real-estate projects are on the top of the Arab investments list in Algeria including Dounya Park project in Algiers, Egyptian Orascom with $10 billion investments since 1998 along with other Egyptian investments in construction, cement water desalination, electricity plants, iron and medicines.