UAE Investors Return To Algeria

date 2016/11/16 views 438 comments 0

icon-writer Imane Kimouche/English version: Dalila Henache

After the meeting of the Saudi-Algerian Business Council in Riyadh, in the presence of Prime Minister, Abdelmalek Sellal and a number of members of the government, a UAE businessmen delegation is expected to visit Algeria next week, as it includes 50 investors, bringing a diversified partnership portfolio to boost cooperation between the two countries, and discuss the opportunities to grab deals in different economic sectors, led by industry, tourism, hospitality, ports, infrastructure and mechanics.

According to sources that are related to the file of this visit, a delegation of UAE 50 businessmen will visit Algeria to meet with their Algerian counterparts, and discuss the partnership between UAE dealers and other businessmen in Algeria, as this comes at a time when the government is counting heavily on diversification of the economy and partnership, and move towards the Algerian Arab projects, which noticed a qualitatively recession during the past years, which would be realized by the Business Council that is held until today between Algeria and Saudi Arabia in Riyadh, and the Emiratis visit as well.

This visit comes after seven months of holding the UAE-Algerian Business Council last April in Abou Dhabi, as an embodiment of the recommendations of the 13th session of the Joint Higher Committee that was held in November 2015 in Dubai, to strengthen the bilateral cooperation, at a time when the government adopts a strategy to praise the UAE investors and the Gulf in particular and the Arabs in General, as part of its efforts to diversify the country's economy, with the knowledge that the UAE level of investment remains weak in Algeria, as the most prominent UAE dealers who are in Algeria remains the "DP" since 2009, and the "Aabar" in the field of real estate, and "Emaar" in the field tourism and hostelry.

In the field of food industry, the two parties signed in 2013 on an agreement to create a joint company in the red meat sector, but this was not materialize to the extent time, and the two countries signed in 2011, along with the German party, on agreement protocols for the development of the mechanical industry, as there was the embodiment in July, 3, 2012, of a partnerships with joint funds, and it comes to the Algerian Company for Manufacturing Heavyweight Vehicles of "Mercedes Benz" in Algiers Rouiba zone, and the company for the production of "Mercedes Benz" cars in Tiaret (western Algeria), and the company for engines industry by the German "Mercedes-Benz, Dotto and MTO in Constantine's Oued Hmimin zone (eastern Algeria).

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