Raffarin: all French investment-related problems settled

Former French Prime Minister and the president’s envoy in charge of economic relations with Algeria Jean Pierre Raffarin Thursday said all the problems related to investments in Algeria were settled.

“I am totally convinced about the results made in terms of French-Algerian industrial partnership. France and Algeria prepares for very important projects,” Raffarin told a press conference.

The French official met with the Algerian Prime Minister Abdelmalek Sellal. He talked about French projects in food industry, saying the French Prime Minister’s visit would be an appropriate opportunity to launch a new series of French projects.

Raffarin also said a group of French companies work on investment projects in Algeria in partnership with local enterprises in medical equipments, ports, infrastructures energy in accordance with investment rules in Algeria.

He added that French companies are not worried about the 51/49 rule.

France is the first foreign investor in Algeria with about 450 companies employing around 40,000 people in all the sectors.

Raffarin talked about important projects launched early this year including the Renault car making project in the province of Oran (west of Algiers) and Sanofi pharmaceutical project near the capital. Those projects will create hundreds direct jobs.

The Algerian industry minister Amara Benyounes said France’s Prime Minister is expected to visit Algeria to chair the French-Algerian Committee which will be held for the first time.

He added that he will visit Paris in mid-November to prepare the French Prime Minister’s visit and examine new partnership opportunities.