Algerian President invites Qataris to invest in his country

Monday 21st Feb 2022

HE President of the sisterly People’s Democratic Republic of Algeria Abdelmadjid Tebboune met on Monday with officials from Qatar Chamber at Sheraton Hotel.

Qatar Chamber First Vice-Chairman HE Mohamed bin Ahmed bin Twar Al Kuwary attended the meeting alongside with several board member including Abdulrahman Al Ansari, Dr Mohamed bin Jawhar Al Mohamed and Khalid bin Jabor Al Kuwary.

During the meeting, HE Tebboune affirmed the strong relations between Qatar and Algeria, noting that there is a common desire to boost such relations and develop them in all fields.

HE called on Qatari investors and businessmen to invest in Algeria, noting that there is a myriad of investment opportunities available in many sectors such as services, real estate and industry.

HE the Algerian President affirmed that the investment environment is witnessing significant development through improving the legal and legislative structure, indicating that a slew of laws will be issued soon to further support the investments and provide facilities for investors and businessmen.

The meeting touched on the possibility of exchanging expertise between the Qatari and Algerian private sectors and organising a business visit of Qatari businessmen to Algeria to get acquainted with the available investment opportunities.

For his part, HE Mohamed bin Twar Al Kuwari praised the robust close relations between Qatar and Algeria and the common desire of both parties to develop them especially in economic and commercial aspects, stressing that Qatari businessmen are keen to direct their investment to Algeria.

As for trade between both countries, Al Kuwari said that the two countries’ bilateral trade grew by 12 percent from QR 132mn in 2020 to QR 148mn last year, noting that despite this growth but the trade exchange between both brotherly countries is still below expectations and the enormous potential both countries own.

HE noted that there are about 52 Qatari-Algerian firms operating in Qatar in many sectors including trade, contracting, services, fashion, furnishings, interior design, and education, pointed out that the Qatari market welcomes the Algerian companies, as there are a plenty of opportunities for establishing joint ventures between companies from both countries whether in Qatar or Algeria.

He elaborated on the successful models of Qatari-Algerian partnerships such as the Algerian-Qatari Steel Company, which owns the Bellara Steel Complex in Jijel province, an investment cost of about $2 billion, and Ooredoo Group, which has achieved remarkable success in Algeria’s telecommunications sector, in addition to several important investments by Qatari businessmen in many sectors.

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