Rekkache examine avec le ministre du Commerce omanais les opportunités d’investissement et de partenariat
Summary of the Meeting between Algeria and Oman on Investment Cooperation
On a recent Sunday in Algiers, Omar Rekkache, the Director General of the Algerian Investment Promotion Agency (AAPI), welcomed Qais Bin Mohammed Al Youcef, the Minister of Commerce, Industry, and Investment Promotion from Oman. Accompanied by the Omani Ambassador to Algeria and a delegation of business leaders, the meeting aimed to explore investment opportunities and partnerships across various sectors.
Strengthening Bilateral Ties
The discussions focused on enhancing cooperation between the AAPI and Oman’s Investment Authority, particularly in light of a memorandum of understanding signed during Algerian President Abdelmadjid Tebboune’s visit to Oman last October. The goal is to improve the business climate and assist in investment projects, leveraging the existing frameworks to facilitate exchanges of information and identify investment opportunities.
Investment Projects of Interest
Key projects discussed included:
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Maritime Transport: Plans for a shipping line between Algeria and Oman are in the feasibility study phase, conducted by Algeria’s Maritime Transport Group (Gatma) in partnership with Oman’s Asyad Group.
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Automotive Industry: A partnership between Hyundai Motors and Algerian investors aims to establish a manufacturing facility for passenger and utility vehicles, which is expected to generate numerous jobs.
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Petrochemicals: Collaborative efforts between Algeria’s Sonatrach and Oman’s Suhail Bahwan Group are underway to extend an ammonia and urea plant in Oran. Technical discussions are ongoing regarding implementation.
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Aluminum Foundry: An investment proposal by Omani investor Saad Al-Hajri is in the pipeline for a foundry in the Bellara industrial zone, with a technical study already completed.
- Fishing Fleet: The two sides also discussed establishing a joint fishing fleet proposed by Algeria’s Ministry of Agriculture, aimed at developing a maritime fishing company.
Visit to the One-Stop Shop for Investment
During the visit, the Omani Minister was shown the one-stop shop dedicated to large projects and foreign investments in Algeria, receiving a thorough overview of its operations and services available for investors.
Conclusion
The encounter culminated in a mutual acknowledgment of the cooperation already achieved and a commitment to continue working together to advance concrete partnerships. Both Rekkache and Al Yousef expressed their determination to expedite priority projects that would mutually benefit the economic development of Algeria and Oman. Rekkache reaffirmed the AAPI’s commitment to actively support Omani investors to realize their projects.
This summary encapsulates the essence of the meeting while focusing on the main points pertinent to investment discussions, thereby providing a comprehensive understanding of the bilateral engagement between Algeria and Oman.
