Ali Haddad: “50% of US Companies have left Algeria!”

Ali Haddad, President of the Businessmen Forum (FCE), has called on the US to step up their investments in Algeria.

He stated that Algeria is a promising market and it is unacceptable that the Algerian-American cooperation remains in the current state, while calling for a greater development of this partnership which must be imbued with more confidence in order to establish special bilateral economic relations.

Moreover, according to figures provided by Mr Ali Haddad, the lower volume of economic exchanges between the two countries went from 15.9 billion dollars to 7.6 billion dollars, stressing that only 59 US companies are currently operating in Algeria, adding that out of 100 Foreign companies present in the country, only one is American.

Mr Ali Haddad further said that the pharmaceutical industry has been an optimal space for profit-yielding investment in recent years, thanks to the opportunities marked by the growing needs in terms of medicines in Algeria, especially for chronic diseases, adding that Algeria offers all facilitations and incentives to attract potential foreign investors, while inviting the USA not to waver to invest in the vast Algerian market.