São Paulo – Algeria wants to simplify contact between potential foreign investors and businessmen in the country in several sectors. In this respect, the National Investment Development Agency (Andi) has established an online data bank with the main information about the national economy and the activities may attract foreign capital.
According to figures supplied by the embassy of Algeria in Brazilian capital Brasília, sectors like the electronic industry, agroindustry, mechanical engineering, petrochemicals, pharmaceuticals and organic fertilizers are among the most competitive in the country. Through the Andi site it is possible to present projects that may be executed in the country.
“Brazilian companies may participate in the fields of investment, technology and knowledge transfer, as well as finding Algerian partners with the objective of guaranteeing a durable winning partnership for both sides,” said Abedlhamid Rahmani, the councillor responsible for economic affairs at the embassy of Algeria.
“There are guarantees for the transfer of capital and revenues, equal treatment to all local and foreign investors, bilateral and multilateral agreements for investment, encouragement and protection,” said the councillor.
Another advantage listed by him is the tax breaks granted for up to ten years for investment and exports. “The activities subject to this benefit are those related to production of goods and services and investment under concession or through licenses,” said Rahmani.
According to him, in Brazil, Algeria has a partnership with the Arab Brazilian Chamber of Commerce for the search for local investors, as well as other institutions that work in partnership with the embassy. “The Arab Brazilian Chamber has established a unit (the Investment Committee) to strengthen relations in the fields of investment between Brazil and the Arab countries. This may be very useful to establish contact between investors in both countries,” he pointed out.
“South-south cooperation is also among the priorities for Algeria,” said the diplomat on explaining that Algeria seeks to attract investors from several countries to “develop and diversify its foreign economic relations”.
Algeria has abundant natural resources, especially oil, gas, tungsten, uranium, gold, iron, zinc and phosphates. Since early this decade, the country, which has free trade agreements with the European Union, has been presenting average growth of 5%. The country’s reserves in foreign currencies are estimated at approximately US$ 150 billion.
Service
Algerian National Investment Development Agency
Site: www.andi.dz
Tel.: (+213 0) 21 77 32 62/63
E-mail: dg@andi.dz
*Translated by Mark Ament
