L’Egypte restitue un milliard de dollars au Qatar
#Business #Diplomacy #Industry #Politics #Qatar #Telecommunication #ALGERIA
Denys Bédarride
Wednesday 2 November 2022 Last update on Wednesday, November 2, 2022 At 7:00 AM

Algeria, endowed with comparative advantages on several levels, constitutes an attractive pole for Arab investors, with major projects carried out in several sectors and growing investment intentions.

One of the largest investors in Algeria among Arab countries, Qatar has a strong presence in the country with substantial investments, particularly in industry and telecoms.

Bilateral cooperation has experienced a qualitative leap, especially after the establishment of the complex called Algerian Qatar Steel (AQS), located in Bellara (Jijel) and considered to be the fruit of a fruitful partnership, which amounts to 2 billion dollars. .

Expected to reach a capacity of 2 million tonnes in 2022 in rebar and other steel products, the AQS complex is a joint venture between Qatar Steel International (49%), the Imetal Group (46%) and the Fonds National Investment Fund (5%).

In the field of telecommunications, the mobile telephony operator Ooredoo, installed in Algeria since 2004 and ranked third on the Algerian market, has to date some 12.5 million subscribers to 3G and 4G technologies.

In addition, about fifteen Emirati companies are active in Algeria.

The aluminum refinery project located in Beni Saf for an amount of 5 billion USD, the milk production project in Tiaret and the project to build an electrical station (Hadjret El Nos 1200 megawatts), a amounting to one billion USD, illustrate the new orientation of Emirati investments in Algeria.

A new dynamic of bilateral economic cooperation in the field of industry and mining has been initiated for several years, with the identification of the main areas of common interest, including the mechanical industry, the treatment of hard waste, the – contracting and the aluminum industry.

In the field of agriculture, Algerian-Emirati relations were marked by the signing of a memorandum of understanding between the “Agrodiv” group and the Emirati company “Elite Agro LLC”, with a view to developing pilot farms for the production of cereals, fodder and fruits and vegetables.

Jordanian investment in Algeria is no exception. Three Jordanian drug manufacturing factories are active in Algeria and are starting to export their products to African countries.

Jordan is also present in Algeria through two banks: Arab Bank and Housing Bank.

The economic partnership between Algeria and Saudi Arabia is marked by the signing of several investment agreements, particularly in the chemical, pharmaceutical and food industries.

The President of the Republic, Abdelmadjid Tebboune, did not fail to express, last July, Algeria’s “permanent concern” to attract investment from brotherly and friendly countries, including Arab countries such as Qatar or Saudi Arabia.

Source : Algeria Press Service

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