The head of the Algerian Chamber of Commerce and Industry, Al-Tayeb Shabab, indicated in a television interview that "there is a sincere political desire in Algeria to develop the economic reality." He explained that "the chamber is ready to play the role assigned to it and cooperate with the political authorities, led by the President of the Republic, Abdelmadjid Tebboune, in order to implement the drawn plans aimed at building a strong economy and elevating the Algerian economy to the ranks of strong economies."
He said that "the political decision today in Algeria is to open up to the Arab countries and the market, and this is a positive thing because Algeria, by virtue of its strategic location on the African continent, serves as an important gateway for Arab and African countries to the European continent."
He noted "the importance of activating the Algerian-Arab business councils, as the Algerian-Qatari Business Council was recently activated, and in the near future the Algerian-Kuwaiti Business Council will be activated, and this will enhance economic cooperation with the Arab world."
He explained that "the measures taken by the Ministry of Transport in Algeria, in order to promote investments in the air, sea and land transport sector, will have positive repercussions on the Algerian economic reality in general." Noting "the importance of Qatari investments in Algeria, which constitute the largest percentage in terms of total Arab investments, at 74 percent," it is expected that the volume of Qatari investments in Algeria will increase in the next stage “It is hoped that it will include many vital sectors, following the official visit of Algerian President Abdelmadjid Tebboune to Qatar recently, which was attended by an official economic delegation and from the private sector, and resulted in the signing of many agreements that would strengthen economic, trade and investment relations between the two brotherly countries.”
He said, "The ports, roads and bridges that are being built with local and foreign investments, will contribute to Algeria being a real transit gateway to the African continent." Pointing out that "Algeria will have a new modern investment law very soon, which will meet the desires of local and foreign investors, and this will generate more huge and vital investments for Algeria."
He stressed that "the doors of Algeria are open to all Arab and foreign investors, especially since Algeria needs investments in many sectors." He called for "the importance of maximizing the role of the Algerian Chamber of Commerce and Industry, and not marginalizing its role, given the strategic and vital role that the Chamber plays in maximizing economic relations between Algeria and other countries of the world, through the gateway to the private sector, which is the real locomotive of economic renaissance."
He pointed to "the importance of strengthening the real partnership between the public sector, represented by the countries with their major institutions such as Sonatrach, and the private sector, which is strongly represented by the Algerian Chamber of Commerce and Industry, which contributes to giving a strong impetus to the renaissance of the national economy." He stressed "the importance of strengthening the digital economy in Algeria, especially since the world today is shifting towards the digitization of the economy, and if we do not keep pace in Algeria with the global economic changes taking place, we will remain on the sidelines of the global economy. Hence, it is necessary to adopt an economic map and vision that gives priority to attracting the huge investments that Algeria needs in all vital sectors.”
Al- Tayeb Shabab referred to "the fluctuations in international oil prices", pointing out that “at a time when world oil prices are rising, we are witnessing, on the other hand, a significant increase in the prices of vital materials, especially world grain prices. This requires Algeria to strengthen interest in the agricultural sector and reduce dependence on imports, so that we can benefit from the financial revenues resulting from the rise in international oil prices, and invest them in the productive sectors, in order to achieve growth and economic recovery."
Source (Union of Arab Chambers)
