Emirates investments in Algeria to surpass $ 50 billions by 2010

The Emirates trade minister, Sultan Al Mansour Tuesday revealed that his country’s investments in Algeria will get over $ 50 billions over the period 2006-2010 in the sectors of energy, services and industry to be extended to the agriculture in order to face the world food crisis.

• Talking about future prospects, Sultan Mansour said ” The Emirates side is very interested in agriculture to face the major food crisis, adding that Algeria posses great opportunities on which both countries can draw benefits calling the Algerian authorities to draw a clear strategy and express its needs to the Emirates side”.
• In his opening speech, the Algerian finance minister, KArim Djoudi declared that cooperation between the two countries witnesses an “ intense and active start” since the fifth session in held in 2007”.
• For his part, the Emirates minister tried to highlight the small advances in the implementation of the various projects, but most of his fellow investors denounced bureaucratic practices.
• It is worth mentioning that the biggest Emirates investors “Imar” was absent from the meeting as a reaction against “ hurdles and impediments” which his company is facing from the Algerian authorities