Investment: US Department of State underlines “significant opportunities” in Algeria
APS - 20 July 2018
WASHINGTON- Algeria is an attractive destination for American investors, said Thursday the US Department of State, underlining “significant opportunities” in almost all economic sectors.
In its annual report on investment climate in the world, the US Department of State underlined that Algeria is “a lucrative market,” offering a significant potential to the American companies in investment.
Citing representatives of the American private sector working in Algeria, the report underscores that “several sectors offering potentially significant long-term growth opportunities for American companies.”
Several companies underlined recording annual double-digit profits, according to the report which adds that there are opportunities in almost all the Algerian economic sectors.
For major investments, the targeted sectors include agriculture, tourism, information and communication technologies, industry, energy (fossil and renewable), building and health, said the report which underlines a highly rewarding investment combined with a stable political and security environment conducive to investment.
In this regard, the Department of State mentioned the economic diversification programme implemented by the government to boost growth following the drop in oil prices with a focus on foreign direct investment.
However the report noted that the American companies must overcome some challenges like the price competition of the French, Turkish and Chinese companies. If the US Department of State points out that the rule 51/49,” governing foreign investment, poses challenges to the American investors, it notes that this measure hinders particularly the access of the small and medium-sized companies to the Algerian markets as they don’t have the human and financial resources which allow them to meet the investment requirements.