Over 86.000 French Companies Resort To Algeria Escaping ISIS
Over 86.000 French companies, that are mostly operating in tourism, hospitality and the food industry, made a formal request to enter the Algerian market, which they described as “stable”, and “far from the security threats”, at a time when the European continent is noticed terrorist attacks and bombings, that are carried out by ISIS each time, as some economic operators fear the adventure with their money there, and prefer to invest in Algeria, which remains -according to the requests that they have made- Africa’s gate and a safe haven.
Chairman of the Algerian Industry and Trade Chamber in Paris, Kaci Ait Yaala, told Echorouk that over 86.000 French companies made official requests to the Algerian authorities, to enter the national market, in order to invest and develop new branches, during the current year, as most of them are specialised in the food industry, tourism, hostellerie and solar energy, and the emerging companies “START UP”.
“French companies chose Algeria, based on official reports of the availability of providing security in Algeria, in light of the recent data that are taking place in Europe.”
“Problem of the relative lack of security in France and other European countries, after the bombings and attacks that took place there, makes a large number of French companies made an official demand to enter the Algerian market, although the number of French companies in Algeria is still 500 companies since years ago, with a total of 45.000 direct employees, and 150.000 indirect employees. Chamber of Commerce is studying their files, with the forum of heads of enterprises FCE, which discussed the possibility of benefiting from French operators’s experience and technology to revive the industrial sector in Algeria.”
“Chamber of Commerce is also considering the possibility of encouraging the Algerian investors who have dual nationalities, to enter the Algerian market, and 400 businessmen with Algerian nationalities in France, from a total of five million immigrants. A large number of them wish to invest in the domestic market, as the value of remittances of Algerian businessmen during last in France reach up to $1.6 billion, and it was estimated in the previous year, i.e in 2014, to $1.8 billion, calling for the need to find financial ways and new services to pump greater amounts of capital, through officially begin in the marketing of the bonds for example, in the context of the national loan for economic growth for members of the community, as it was already revealed by the former Minister of Finance, Abderrahman Benkhalfa, and that will enable raising the transfers to at least $ 5 billion annually.”
“French-Algerian meeting that is expected for next October in Paris, will complete the agreements on partnership relationship between the two parties. It is an annual meeting, that is resulted from the state visit that was paid by the French President, Francois Hollande, to Algeria on December 2012, as it was agreed on organising an official meeting between the operators of the two countries, and government officials every year to discuss the file of economy.”