✏️ BY: Dr. Hana Saada
Algiers- Algeria, May 15, 2024 – In preparation for the 7th edition of the “Ambition Africa 2024” forum, slated for November this year, French authorities have underscored investment prospects in African countries, with a particular emphasis on Algeria, positioned as a gateway to the entire continent.
With French companies’ significant presence in Africa aiming for mutually beneficial partnerships generating jobs, projects, and added value for the continent’s countries, a document from the government agency Business France has outlined several promising sectors in Algeria. It particularly highlights Algeria’s new policy favoring domestic production over imports.
This shift in Algeria’s economic policy has prompted investment experts and advisors to prioritize partnerships with local operators to launch projects, aiming to align with the country’s new policy and contribute to its economic growth. Algeria stands as the second-largest importer of French food products in Africa, with cereals leading the list. The food imports market in Algeria is valued at €4 billion, with 75% of cereals, 75% of pulses, 55% of milk, and 30% of beef being imported. However, since 2019, a policy has been in place to restrict imports of finished products to promote local production.
Agriculture and Agro-industry: Strategic Sectors
Agriculture and agro-industry are strategic sectors in Algeria, requiring modern and efficient equipment for development. According to Business France, imports of these goods amount to €960 million, signaling the need for modernization and mechanization of farms with government support.
In this sector, Business France advises French operators to identify local partners to benefit from their market expertise and networks, with the aim of establishing long-term partnerships involving local production.
Construction and Railways: Major Opportunities
The construction sector presents major projects, offering lucrative opportunities for French investors. Algerian authorities envision the construction of over 5,000 kilometers of highways by 2030, along with 50 large dams by 2035, and nearly 6,000 kilometers of railways in the next 15 years. Algeria stands as the second-largest market in Africa for construction machinery and bitumen.
Additionally, Algeria’s economic diversification policy is evident in significant investments in the mining sector, such as phosphate development (worth $6 billion USD) and the Gara Djebilet iron deposit, necessitating substantial infrastructure developments, including railway lines and port extensions.
Industry and Energy: Diversification Encouraged
In the industrial sector, the Algerian government promotes diversification, aiming to modernize steel mills, establish new steel poles, and develop phosphate processing. Notable investments include those from Sonatrach, planning to invest $40 billion USD between 2022 and 2026, with 70% allocated to upstream activities. The state-owned company also intends to develop the petrochemical sector, with major projects in refining and plastics production.
Algeria: A Key Automobile Market in Africa
Algeria is a significant African market for automobiles, with the government preparing new regulations to increase local integration rates, likely leading to industry restructuring. Moreover, substantial investments in railway infrastructure and urban mobility are underway, with over 2,000 kilometers of railways under construction and an extension of the Algiers metro.
In conclusion, Algeria presents numerous investment opportunities across various sectors, and France encourages French companies to seize these opportunities to strengthen economic ties between the two countries. The modernization of Algeria’s economy and its shift towards domestic production offer new prospects for investors seeking sustainable and mutually beneficial partnerships.
Translated from: https://lalgerieaujourdhui.dz/la-france-met-en-avant-les-opportunites-algeriennes/
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