Investment Opportunities in Algeria Attract Canadian Companies

Canadian companies are betting on major investments in the Algerian market in light of the recent increase in the volume of foreign investments, due to the new incentives provided by the government to increase the attraction of foreign investors in various vital sectors, especially health, pharmaceutical production, tourism, higher education, scientific research and mining, by virtue of there are promising prospects and fertile areas for expanding the activities of the mining sector in Algeria, especially with the effective exploitation of the Ghar Jbeilat mine.
According to the statement of the Algerian Investment Promotion Agency, there is a real desire to follow the example of the Algerian community in Canada and Canadian economic and commercial institutions to come to Algeria to establish major projects, taking advantage of the facilities and incentives offered by the state to become a qualified country and an attractive and stimulating base for foreign investment in particular.
Omar Rakache, Director General of the Algerian Investment Promotion Agency, stated in an economic forum via teleconferencing technology, in coordination with the Algerian Consulate in Montreal, that all opportunities are available in the field of investment in Algeria, in terms of improved investment climate as well as the abundance of working environment in terms of tourist and agricultural real estate. And industrial, with incentives for serious investors, noting that the state has provided all facilities and services to investors, while encouraging investments that enhance Algeria’s competitiveness.
The agency official argued for the attraction of Canadian investments within the framework of the country’s economic strategy, which aims to diversify sources of income, enter many industries and establish them in Algeria.
The meeting was attended by the Consul of Algeria in Canada, the staff of the Consulate, the Coordinator of International Market Development at the Montreal Chamber of Commerce, the Quebec International Investment Advisor, as well as the Director of Tailor Energy Inc, a petroleum company specializing in petroleum products and natural gas in Montreal, the largest city in the province of Quebec, in addition to representatives of relevant bodies. By investing in the same country in North America.
Algeria is considered Canada’s first economic partner in Africa and the Arab world in recent years, as evidenced by the many meetings between senior officials, including presidents, ministers and politicians, which took place in different periods, as well as the discussion of many issues related to economic, trade and energy relations between the two countries, noting that Algeria is bound by 5 treaties. There are various issues with Canada, most notably the fight against tax evasion concluded in 2000, which prevents the transfer of funds resulting from criminal activities to Canadian banks, in addition to a treaty on the movement of people between the two countries in 1995.