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  1. #8
    liberte is offline Registered User
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    Many thanks both! Economics has never been my strongest subject unfortunately.
    However, do you think that by paying all the debt , this is delaying government investment in improving internal infrastructure?

  2. #9
    Mnarvi-DZ is offline Registered User
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    I don't think so. Boutef's 5 years program is very important and its cost will b around 50 Billion dollars, the aim of which is mainly to improve the basic infrastrcture: transportation, education, health, social aids...etc. And I believe we still have the moneys to do more...
    As I said earlier, thanx to the oil price increase, modern Algeria is experiencing an unprecedented period of wealth and can afford the money to pay the debts and still keep a lot for investments... And repaying debts now means no interests to pay in the future -> more money for development.
    Algerian yearly budget is always done based on a barrel of 19 dollars so that the rest is put in the reserves or in the special oil account (which reaches more than 30 billion dollars today)... This is to say that we have money to do all that and more

    The most important thing is to develop the industry and agriculture so that Algeria won't suffer again when oil becomes cheaper or when there's no oil. And this is not the government's responsibility alone but the private businesses too. We just need to be ready before the oil period is over
    Avant d'ecrire il faut savoir lire,
    et avant de parler, il faut savoir ecouter
    Par El Bachir El Ibrahimi

  3. #10
    liberte is offline Registered User
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    Thanks Mnarvi. I agree that no country should depend on oil revenues alone. I hope that agriculture, tourism and many other industries start to flourish in Algeria in the coming years.

  4. #11
    Guest 123 is offline Registered User
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    Munich hosts economic forum on Algeria

    An economic forum on Algeria opened in Munich on Wednesday (December 6th). The event was organised by the Munich Chamber of Commerce and Industry, at the initiative of Bavaria's Minister of Economy Erwin Huber, and the General Director of the Munich Chamber of Commerce and Industry, Reinhard Dorfler. The forum is bringing together Algerian and German business communities, to present Algeria's investment opportunities and boost economic co-operation between Algeria and Bavaria.

    Munich hosts economic forum on Algeria

  5. #12
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    Germany invests in Algeria

    German Economics Minister Michael Glos said Thursday (February 22nd) during a two-day visit to Algeria that German companies will invest $120m in Algeria's infrastructure over the next year. He noted Siemens' participation in the deal for the supply of electrical switching stations for a new business centre in Algiers and in a consortium for building an underground system in Algiers. Glos also spoke on the diversification of Europe's sources of energy and strengthening of the links with North Africa during Germany's EU presidency. "I can well imagine that in future more Algerian gas will come to Germany and Europe," Glos said, adding that he would welcome the building of more pipelines between Algeria and Europe.

    Germany to invest $120m in Algeria's infrastructure

  6. #13
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    ALGIERS, Feb 23 (KUNA) -- Algerian and German companies have signed here Friday partnership contracts in the fields of energy, tourism and services.

    The signing ceremony was attended by Algerian Minister of Participation and Investment Promotion Hamid Temar and German Minister of Economics and Technology Michael Glos Kalos.

    The first deal, which was inked by Algerian Dalhi Complex, an electric power enterprise, and German Siemens, aimed to set up a joint venture in the Algiers City Project, including a high pressure power plant, a trade center and a tourist port in the capital Algiers.

    Siemens Country Office's CEO Peter Donrbor said in news remarks that the project, which would cost 300 million Algerian dinars, would be completed within nine months' time.

    The second deal, which was signed by Algeria's Marine Industrial Services (MIS) and Germany's Sloman Neptun Company, is pertinent to a joint venture in the sea transport field.

    Zawawi bin Jalit, manager-general of the Algerian company, said the USD-1-million-capital joint venture would be responsible for procedures for German ships crossing Algerian harbors.

    Accompanied by several German businessmen, German Minister of Economics and Technology Michael Glos Kalos arrived here on Thursday on an official visit to Algeria.

    Algerian and German companies sign partnership contracts

  7. #14
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    February 26, 2007 - - Siemens of Germany will supply electrical equipment to the Algerian private real estate development company Dalhi. The equipment will be used to power Dalhi’s mega project called Alger Madina. A second contract, also involving an Algerian private firm, AMS, concerned the establishment of a joint venture with Germany’s Sloman Neptun in the area of maritime shipping.

    These contracts and many more to come occurred through the participation of the busy Algerian-German Chamber of Commerce, and according to some senior officials of the Chamber some 1 billion euros worth of business are being negotiated.

    The German business community has become more focused on creating opportunities in Algeria, obviously driven by the important oil reserves and the North African country’s ambitious economic program. Today, some 140 German companies have a direct presence there, and have invested some 350 million euros over the past few years.

    Leading companies active there include Henkel, Knauf, Linde, Messer, Siemens, ZF, BASF, DHL, and Dywidag. Knauf, for its part, acquired a 50% stake in the Algerian state-owned plaster maker Fleurus, and has reportedly applied for the purchase of the remaining 50%. Similarly, the privatization authority, Conseil National des Participations de l’État (CNPE) is expected at any time to announce that it will authorize Germany’s Linde to take over the industrial gas maker ENGI.

    From a trade perspective, commercial exchanges between the two countries rose to 2.7 billion euros in 2006, with Algeria exporting 1.6 billion euros to Germany, hence maintaining a slight trade surplus. These figures rank Algeria as Germany’s fifth commercial partner in MENA (Middle East North Africa region) after the United Arab Emirates, Saudi Arabia, Egypt and Kuwait.

    But a closer look at the pace of German investment into Algeria and one can pinpoint bottlenecks in the way the Algerian administration operates, creating slow response rates and massive procedures. A number of German companies that have attempted to set up operations in Algeria gave up after dealing with tough bureaucratic procedures.

    Algerian-German trade talks lead to new business deals

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