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Algerian British Business Council 06-11-2017

Monday - 6 / November / 2017

Monday 6th November 2017

 

Welcome to the latest Edition of the ABBC Business News Digest.

Please find here the latest business news and opportunities in Algeria.

 

 

ABBC Secretariat

Algeria: Rising volume of production in strategic agricultural sectors (Minister)

30/10/2017

Agricultural production in strategic sectors should increase significantly in the short term, said the Minister of Agriculture, Rural Development and Fisheries, Abdelkader Bouazgui on Sunday in Algiers. During a hearing before the Finance and Budget Committee of the National People's Congress (NPC) as part of the review of the 2018 Finance Bill, the minister said that the forecasts of his department ministerial forecasts of a short-term rise in cereal production to 53 million quintals against 34 million currently and potatoes of 47 million quintals currently 69 million. It is also expected to increase the volume of production in the red meat sector from 5 million quintals to more than 6 million even for the production of the fishery which will increase from 102,000 to 200,000 tons, he added. Read More

Annaba Build 2017: Under the theme "Let's build Algerian"

30/10/2017

The 5th edition of the Building, Promotional Housing and Urban Development Trade Show '' Annaba Build 2017 '' will be held from December 3rd to 6th at the Palais de la Culture and Arts Mohamed-Boudiaf. This important event, under the slogan "Build Algerian", is organized by the Chamber of Commerce and Industry Seybouse-Annaba, in collaboration with RBS Consultation. This fifth business meeting is aimed primarily at construction companies, contractors, real estate developers, renovation companies, materials and equipment suppliers, carriers, banks and investment companies, specialized installers, craftsmen, architects, engineers, manufacturers, distributors, traders, new technology specialists, building owners and managers. Read More

Automotive industry: the specifications "finalized"

31/10/2017

A specification will be published in the coming weeks, intended for companies activating in the vehicle assembly industry in Algeria, said the Minister of Industry and Mines, Youcef Yousfi on Thursday in Algiers. During a hearing before the Finance and Budget Committee at the National People's Congress (NPC) as part of the examination of the 2018 draft law, Mr Yousfi said that "the development of specifications for the assembly of vehicles has been completed after consultation with all stakeholders," adding that it "will be published in a few weeks." The specifications will cover all categories of vehicles (cars, buses, trucks, bicycles, motorcycles and trains). Companies undertake under these specifications to comply with the rules and principles governing the industrial sector, remedied malfunctions and gradually increase the national integration rate. Read More

Algeria: Giving more importance to the development of the petrochemical

1/11/2017

DRAR - The Sonatrach Group Chief Executive Officer (CEO), Abdelmoumene Ould Kaddour said on Tuesday in Adrar, that Sonatrach is going through its future development plans to give more importance to the development of the petrochemical industry in gas exploitation. As such, he stressed that the next few years will be dedicated to developing fields and strengthening the petrochemical industry in oil and gas projects. During his inspection of the Reggane project, which is nearing completion and where he supervised the first gas technical tests, Sonagraphe's CEO hailed the high level of security measures taken for the protection of personnel in this gas installation, declaring in this respect, "this site was marked by a total absence of work accidents, thanks to the judicious security measures adopted." Read More

Oran: 120 exhibitors at the fishing and aquaculture show

31/10/2017

Some 120 exhibitors including 35 from abroad and a dozen international organizations will take part in the 7th edition of the International Exhibition of Fishing and Aquaculture (SIPA 2017) that will host in Oran next November, we learned on Tuesday by the organizers. This edition will be held from 9 to 12 November 2017 at the Oran Convention Center under the slogan "For a sustainable and diversified growth of the Economy of Fisheries and Aquaculture," said Rodane Brahim, Chairman of the commission organization of the event. With regard to international organizations, the United Nations Development Program (UNDP), the Agreement on the Conservation of Cetaceans of the Black Sea, the Mediterranean Sea and the Adjacent Atlantic Area (ACCOBAMS), the Korean Agency for international cooperation (KOICA), the Japan International Cooperation Agency (JICA), among others, will be present at the show, he said. Read More

Hydrocarbons: 6.5% increase in production in 2018

2/11/2017

Sonatrach's hydrocarbon production is expected to surge next year. According to the Reuters news agency, citing a document from the Ministry of Energy, oil and gas production is expected to increase by 6.5% in 2018, compared with a 2.7% decline in 2017. According to the same source, the government expects revenue from energy exports to reach $ 33.6 billion in 2018, compared to $ 32.3 billion at the end of this year and $ 27.7 billion dollars in 2016. According to Mustapha Guitouni's department, overall economic growth will improve due to "the return of the growth of the activity of the hydrocarbons sector and its weight in the national production." The government hopes new fields will be commissioned in 2018 to boost energy production, mainly gas. Read More

Oil: oil companies benefit

2/11/2017

So much effort is being made by oil exporters to revive prices and take advantage of the proceeds from their production to mostly offset the budget deficit caused by the drastic fall in prices over the past three years. But, really and in fact it is the world oil groups who have benefited most. The balance sheet of this third quarter of the year was more than profitable to the oil giant Royal Dutch Shell whose net profit was multiplied by three it reached $ 4,087 billion over the quarter, against 1,375 billion a year earlier. In total, its sales rose by nearly 23% to 75.830 billion dollars generated by refining, chemistry and net production up 2%. For its part, the oil giant BP made a net profit of $ 1.77 billion, up 9% in the third quarter of this year. During this period, this large producer benefited from its refining and distribution activities and launched 3 new production projects. Read More

Algeria energy output seen growing 6.5 pct next year

2/11/2017

ALGIERS, Nov 2 (Reuters) - OPEC member Algeria's oil and gas output is expected to grow 6.5 percent in 2018, after a 2.7 percent fall projected for this year, the energy ministry said in a document seen by Reuters. Algeria's economy relies heavily on oil and gas, which account for 60 percent of the state budget and 95 percent of total exports. The government expects earnings from energy exports to reach $33.6 billion in 2018, up from $32.3 billion for the end of this year, according to the document, outlining the sector's target for next year. In 2016, energy earnings were $27.7 billion. Overall economic growth will improve due to "the return of growth in the activity of the hydrocarbons sector and its weight in the national production," the ministry said in the document. Read More

Investment Credits: A Natixis FGAR-bank agreement for the benefit of SMEs

4/11/2017

The SME Credit Guarantee Fund (FGAR) and Natixis Algeria have signed a framework agreement in Algiers to allow small and medium-sized enterprises (SMEs) to benefit from a hedge on the financing of investment credits granted by this private bank, indicates a joint statement of the two co-signatories of this agreement. In accordance with the missions devolved to it, the FGAR acts as a risk-taker in favour of SMEs seeking investment credits for business creation, business expansion and renewal and / or renovation of equipment. The rate of coverage granted by the FGAR on its own funds can reach 80% of the amount of bank credit granted by Natixis Algeria for a ceiling of 100 million dinars, while that granted on the Meda funds, under the agreement partnership between Algeria and the European Union, reaches 60% of the main financing granted by the same bank for a ceiling of 250 million dinars. Read More

ALGERIA: Agriculture, increasing volume of production in strategic sectors

31/10/2017

ALGER - Agricultural production in strategic sectors is expected to increase significantly in the short term, the Minister of Agriculture, Rural Development and Fisheries, Abdelkader Bouazgui said on Sunday in Algiers. During a hearing before the Finance and Budget Committee of the National People's Congress (NPC) as part of the review of the 2018 Finance Bill, the minister said that the forecasts of his department ministerial forecasts of a short-term rise in cereal production to 53 million quintals against 34 million currently and potatoes of 47 million quintals currently 69 million. It is also expected to increase the volume of production in the red meat sector from 5 million quintals to more than 6 million even for the production of the fishery which will increase from 102,000 to 200,000 tons, he added. Read More

2018 Finance Bill: Fuel prices will increase as of January 2018

5/11/2017

Presently at the level of the Finance and Budget Committee of the National Assembly for studies, the draft budget law 2018, will be debated and adopted in the coming weeks. Among the new measures introduced, increases in certain taxes are expected, notably fuel prices. Begun in 2016, the fuel price reform continues to gradually increase the prices of gasoline and diesel. Thus, for 2018 this increase will be 5 dinars per litre for gasoline and 2 dinars for diesel. The prices at the pump will, from January 1, 2018, 38,64 DA for the normal gasoline, 41,67 DA for the super gasoline and 22,80 DA gasoil. In addition to the rationalization of consumption, the reduction of imports and the fight against border smuggling, this approach will bring to the state coffers some 61 billion dinars of tax revenue. Read More

The 3rd edition of the International Exhibition of Date “SIDABTECH”

The Algerian Chamber of Commerce and Industry will organize the 3rd edition of the International Exhibition of Date “SIDABTECH” from 2 to 5 December 2017 in Biskra, 400 km south east of Algiers. The objective of this event is to bring together producers, distributers, exporters, agronomists and manufacturers in order to exploit business opportunities and investments in the date field. On behalf of the Algerian Chamber of Commerce and Industry we have the honour to invite you to this event.  For more information please visit the link below.

www.sidab.caci.dz

 

 

 

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