The President of the Algerian Chamber of Commerce and Industry, Tayeb Chabab, called, during the Algerian-Saudi Business Forum, in the capital, Algiers, and organized by the Algerian Chamber of Commerce and Industry, Saudi investors should take advantage of the opportunities available to intensify commercial cooperation with Algeria, especially in light of the new investment bill, which will enter into force as soon as Parliament approves it.
Chabab also highlighted the importance of discussing investment opportunities offered by Algeria in various sectors, especially since the new investment law will give “a strong impetus to economic dynamism and diversification, and give advantages and incentives to foreign investment, especially by simplifying investment procedures.”
He stressed that Algeria provides competitive investment advantages that make it the focus of the attention of foreign investors to employ their capital and diversify their productive activities, considering that organizing this forum aims mainly to discuss opportunities for bilateral cooperation in order to establish a real and sustainable partnership to face future economic challenges.
He stressed that the Algerian Chamber of Commerce and Industry will work to create and provide all the information and data that would encourage the export and import process and the various commercial transactions between Algerian and foreign dealers.
For his part, the head of the Saudi delegation, Zayed Al-Asmari, welcomed Algeria's efforts in advancing the economic movement, which will have a "positive impact on increasing the volume of trade exchanges between the two countries."
In the field of investment, he indicated that work will be done together to raise the volume of investment "in terms of quantity and quality" in various fields, given the capabilities that the two countries have, considering that the organization of this forum will enable the economic dealers from the two countries to exchange views and views on the possibility of investing in the creative fields of added value and job opportunities.
In his speech, by the way, the representative of the Saudi business sector, Nasser Al-Ghilan, indicated that there is a "strong integration" between Algeria and Saudi Arabia, which, according to him, calls for more concerted efforts in order to intensify and diversify investment opportunities.
He also called on businessmen from the two countries to enhance cooperation in areas related to logistics, agriculture, food industry, real estate, tourism, artificial intelligence and electronics.
During this meeting, a presentation was made of the business climate in Algeria by the National Agency for Investment Development, where the most important sectors that Algeria seeks to develop, such as industry, renewable energies, information and communication technologies, tourism and the pharmaceutical industry were highlighted. The new investment law, according to the participants in the meeting, was also discussed, giving a strong impetus to Algeria's economic attractiveness and allowing diversification of local and foreign investment through the various advantages and incentives it brought.
On the occasion, an introductory presentation was also given to the Saudi Export Authority and the various services it provides, especially those related to electronic training services, export promotion services and the training of exporters.
Source (Algerian Chamber of Commerce and Industry, Edited)
