✏️ BY: Dr. Hana Saada
Algiers- Algeria, May 7, 2024 – Vulkan, the German giant renowned for its expertise in producing mechanical components for various sectors including maritime engineering, mining, oil and gas, and manufacturing industries, has chosen Algeria as its first African pioneer for establishing its facilities to launch production, ultimately aiming to export to Africa.
The company Vulkan, which participated a few months ago in the international fair in Algiers as an exhibitor in the energy, mining, and mechanical parts for shipbuilding sector, seized an exceptional opportunity to assess the economic climate and investment possibilities offered by Algeria. This participation also allowed the company to discover the incentives offered by the country to foreign investors. Seduced by the Algerian economic potential, the company opted for a partnership with the Algerian side.
In an official statement released on Saturday, the German company unveiled its project to construct its first subsidiary on African soil, established in Algeria. This new establishment, the fourth worldwide and the first in Africa for the company, is part of an unprecedented trend of international companies relocating to Algeria, demonstrating their willingness to invest in various sectors of the economy.
“We Chose Algeria for its Reliability”
Speaking to journalists from public television, the CEO of the German company highlighted the reasons that led them to choose Algeria, emphasizing its reputation as a reliable partner in Africa. He also expressed his respect for the President of the Republic and his confidence in the success of their business in the country.
“We chose Algeria to establish a partnership because of its reliability. We closely follow the progress made in the field of investment and the improvement of infrastructure in your country,” added the Vulkan CEO, emphasizing that these elements encourage investment.
On the other hand, the Director of Foreign Investments at Vulkan affirmed that the company closely monitors the evolution of investment in Algeria as well as the incentive measures taken by the public authorities. He further expressed his respect for the President of the Republic, for the positive change in the investment field in Algeria.
“Confident That We Will Succeed”
He then emphasized his conviction about Vulkan’s success in the country, highlighting the opportunities and favorable business climate. “We have genuine respect for President Tebboune, considering the current positive developments in Algeria. As investors, we are confident that our company will succeed thanks to the incentives and guarantees offered by Algeria,” he said.
Behind this partnership is Anas Djouadi, an Algerian national who emigrated to Germany to join the firm as an engineer. A graduate of the University of Science and Technology Houari-Boumediene in Algiers, Djouadi eventually proposed the opportunity to invest in Algeria to the company’s management. His conviction and expertise succeeded in persuading the company’s management to accompany him to assess the existing potential in order to launch production in Algeria for export to Africa. “I presented the opportunity to invest in Algeria to the company’s management and managed to persuade them to accompany me to assess the potential on-site,” he explained.
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