France, first European investor in Algeria out of hydrocarbons

France is the first European investor in Algeria out of hydrocarbons with more than $5 billion worth of investments, French Development Agency (AFD) said.

• The number of French companies which have direct investments in Algeria is estimated as more than 380 in water resources, environment, pharmacy, medical equipments, training railways, tramways, electricity, cars and spare parts, according to AFD.
• Algeria is a priority for French companies in view of the Algerian market diversity and its high development opportunities.
• According to the French commerce and industry chamber, French direct investments in Algeria reached $5 billion, a sum which is expected to be increased threefold within the next five years.
• The Algerian government allocated $150 billion for the implementation of the next five-year-plan. French projects in this mega scheme will have the lion’s share in talks between Algerian President Abdelaziz Bouteflika and his French counterpart Nicolas Sarkozy during Bouteflika’s upcoming state visit to Paris slated for next June.