June 8, 2024 | 5 days ago

Russian investors are welcome.

Algeria is becoming more economically efficient with a very favorable investment framework, particularly thanks to the new investment law.

Algeria INVEST®
Legal Notices | Terms of Services

From Saint Petersburg, the Minister of Industry and Pharmaceutical Production, Ali Aoun, participated in an Algerian-Russian working session on the sidelines of the International Economic Forum. He was joined by Kamel Moula, President of the Algerian Council for Economic Renewal (CREA), and Algerian businesspeople. During this session, the minister highlighted the incentives Algeria offers to both national and foreign investors for "the realization of their projects in all industrial sectors," according to a ministry statement. This visit aimed to "review all agreements concluded between the two countries following the visit of President Abdelmadjid Tebboune to Russia last year and to strengthen the partnership and cooperation between Algeria and Russia."

Indeed, last year, eight agreements were signed between the two countries in areas such as Justice, Telecommunications, Agriculture, Culture, Water Resources, and the peaceful exploration of space. The discussions addressed "various economic issues in light of the notable increase in the number of Russian business missions to Algeria." Russian operators expressed satisfaction with their exchanges with Algerian counterparts. Recent economic cooperation between Algeria and Russia included several meetings in Bejaïa, Constantine, Oran, and Sétif, coordinated with CREA. These initiatives aimed to allow Russian operators to explore investment and business opportunities, particularly in the industrial sector. According to the ministry, these efforts increased trade by 2%, with both parties committed to enhancing economic relations and increasing trade volume between Algeria and Russia.

Today, it is clear that foreign investors, including Russians, are directing part of their investments towards Algeria. Various sectors attract their interest. Algeria is seen as a promising destination, entering a new era. The state aims to become a bridge between the African and European continents by undertaking significant infrastructure projects, leveraging its geographical position, and investing in infrastructure to facilitate trade. Testimonials have praised the efforts and commitments in favor of investors, restoring the prestige of investment activities. Thomas Eckert, the EU ambassador to Algeria, recently affirmed that for direct investments, "a significant transformation has been underway in Algeria, and the investment environment is changing."

June 9, 2024 | algeria-logo