Emaar withdrawal is not a big deal, says Algeria minister

Algerian industry minister Abdelhamid Temmar said the withdrawal of Dubai firm Emaar from Algeria is not a big loss while its officials did not inform the government of their decision.

• “I am just a minister. I am not the whole government. So, how can I decide in such big projects Emaar was planning to conduct in Algeria,” Temmar told Echorouk.
• “We totally ignore the reasons behind Emaar’s decision to leave stop business in Algeria. They even did not notify the government,” he added.
• The minister believes that the firm withdrew due to conditions set by Algeria for investment licence. “It has nothing to do with administration hindrances nor did it have something to do with personal conflicts.”
• “It is not a big loss for the Algerian economy.”
• Temmar also said the Algerian finance minister previously received Emirati delegations and the government is aware of Emaar’s projects.
• Emaar firm opened an office in Algeria, planning to conduct projects worth $20 billion in 2006.