President of Iranian trade centre: “we will invest in Algeria if there is no banking problem”

President of Iranian trade centre M.Tabrizi Majid Moeini talked to Echorouk about Iranian investments in Algeria and hindrances Iranians face there.

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• Tell us about Iranian investment in Algeria especially medicine and cement factories?
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• Concerning medicine factories, there are 8 private Iranian companies hoping to invest in Algeria. Yet, they put some conditions because they are No1 in Iran and they are seeking facilitations from the Algerian government. As for cement factories, we signed a contract worth 320 million Euros with Mr. Mazuzi, general director of cement factories to build cement factory in Adrar province (south of Algeria). Negotiations need 2 to 3 months to resolve funding problems because machines are not a problem as we produce them.
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• What about negotiations for the cars installation factory?
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• “It concerns Saipa company and negotiations are still present between the Algerian government and us”.
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• What do you think of the investment environment in Algeria?
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• “If Algeria could resolve all the banking transactions problems, Iranian companies would have strongly come to invest here. It is the main obstacle”.
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• What are the areas and economic sectors Iranian investors prefer?
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•  “All Iranian institutions hope to invest here and I’m here as a representative to open the way for them. Algeria is a paradise for us where enormous investment opportunities are present. Iranians could not come without knowing the right way. Additionally, all sectors are important for us especially agriculture, informational technologies and communication.