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Discussing Saudi-Algerian Partnerships in Five Sectors

Discussing Saudi-Algerian Partnerships in Five Sectors

Wednesday, 11 July, 2018 - 08:30
"Media Day on Investment Opportunities in Economic Sectors in Algeria" in Riyadh on Tuesday. Asharq Al-Awsat Arabic.
Riyadh - Asharq Al-Awsat
The program of the Media Day on Investment Opportunities in Economic Sectors in Algeria was launched on Tuesday in Riyadh. The program is organized by the Council of Saudi Chambers in cooperation with Saudi Arabian General Investment Authority and the National Agency of Investment Development.

Deputy Governor for Development of the Investment Environment of SAGIA Dr. Ayed Al-Otaibi said that holding this forum shows the investment fields and opportunities between the two countries in addition to reinforcing investment and commercial cooperation, intensifying mutual visits, holding exhibitions and workshops, providing required organizational frameworks and finding adequate mechanisms to facilitate the investment procedures and work on removing obstacles and challenges.

Abdulkarim Mansouri, Chairman of the National Agency for Investment Promotion of Algeria, noted that this program embodies recommendation resulting from the meeting held on the sidelines of the 13th edition of the Saudi-Algerian joint committee in Riyadh to foster economic cooperation.

Mansouri added that Algeria enjoys political and economic stability, and has recorded positive indicators last year. The growth rate reached 2.5 percent and the GDP value USD100 billion – exchange reserves totaled USD9.7 billion while foreign indebtedness dropped since more than ten days to less than one billion American dollar. Inflation rate rested at approximately 5 percent.

The National Agency for Investment Promotion of Algeria is in charge of supporting investors and providing them with assistance and facilities, Mansouri added.

Mounir Mohammed bin Saad, Chairman of the Chamber of Commerce and Industry, lauded the meeting that aims at benefiting from the investment opportunities and potentials available as well as exchanging opinions and suggestions on ways to develop commerce and investment between the two countries.

The meeting discussed investment opportunities in the five Algerian sectors: agriculture, industry, environment, tourism and renewable energy.

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