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Algerian British Business Council 07-08-2017

Monday - 7 / August / 2017

Monday 7th August 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: Minister of Commerce meets British Minister for MENA region                                                                                                                                           02/08/2017                                                                                                                                                          Trade Minister Ahmed Abdelhafid Saci met with Alistair Burt, British Minister for the Middle East and Africa, on Tuesday in Algiers, where he discussed the political and economic relations between the two countries on different issues, the ministry said in a statement. During his talks with Alistair Burt, who is on a visit to Algeria with Lord Richard Risby, British Prime Minister’s Special Envoy for Algeria, Saci said the economic ties between the two countries Are “very important”, with Great Britain being Algeria’s 10th largest economic partner, its 9th  largest international customer and the world’s 12th largest supplier to the Algerian market, according to the same source. Mr Burt said that this was his fifth visit to Algeria since 2010, welcoming the policy of the British Government after his departure from the European Union and his determination to “expand and develop its partnership with those countries. Read more.                                                                                                   

Energy Minister discusses Algerian-British energy cooperation with Lord Risby                                                                           03/08/2017                                                                                                                                                               Energy Minister Mustapha Guitouni received, in Algiers on Thursday, the envoy of the British Prime Minister for Economic and Commercial Affairs with Algeria, Lord Richard Risby, with whom he discussed the opportunities for energy cooperation between Algeria and the United Kingdom, the ministry said in a statement, APS reported. During the meeting, the two sides exchanged views on economy and energy in the world, the evolution of oil markets and efforts to balance them over the medium and long term, said the same source. They also discussed the cooperation between the two countries, the business and investment opportunities and means to further facilitate the realization of joint projects. Read more.                                                  

CMA CGM launches direct service to link Morocco and Algeria to the Black Sea                                                                                  01/08/2017                                                                                                                                                   CMA CGM, a world leader in maritime transport, is launching the Black Sea Med Express service on August 21st , which connects the major countries around the Black Sea (Turkey, Romania and Ukraine) to Algeria and Morocco. The CMA CGM Group is innovating and growing in the Mediterranean by launching Black Sea Med Express, created specifically to respond to the increase in trade between the Black Sea countries, Turkey, Algeria and Morocco. It is the first service of CMA CGM to offer a weekly connection between the main ports of the Black and Aegean seas with the North of Morocco (Tangier and Casablanca) and Algeria (Annaba) in order to develop the activity between The Mediterranean Sea and the Black Sea with short lines. Read more.                                                                                                                                

Algeria vows not to resort to foreign debt despite oil prices plunge  01/08/2017                                                                                                                                                           Algeria vowed Sunday not to resort to external debt under any circumstances, despite the sharp decline in the country’s oil revenue since the collapse of oil prices in 2014. Algerian Prime Minister Abdelmadjid Tebboune made the remarks at a tripartite meeting between the government, the General Union of Algerian Workers, and the Employers Forum, the largest Algerian business organization in the North African nation. “Resorting to foreign debt is not allowed and we do not even accept to think about it,” Tebboune said. “We will not undermine our sovereignty under any circumstances,” he noted. He further reassured that Algeria has enough resources to maintain the country’s economy balance, despite decline in oil revenues. Read more.                                                                                                                                                 

 Algeria: Commercial activity increased in the first quarter of 2017 01/08/2017                                                                                                                                                           Commercial activity increased in the first quarter of 2017 in Algeria, particularly in agri-food and textiles sectors, but stock-outs were noted for some products, according to an opinion poll, conducted by the National Office of Statistics (ONS) to 533 business leaders (all legal sectors). According to the survey, most retailers complained about delays in supply, which they said were long, and also deplored remoteness, dispersion of supply centers and slowness of acquisition of goods formalities. Almost half of the wholesalers and over 11% of retailers surveyed report stock shortages of products, mainly raw materials, semi-finished products and machinery and equipment. It was also noted that about 34% of wholesalers and 74% of retailers affected by this survey were supplied to the private sector only, mainly raw materials and semi-finished products and machinery and equipment. Read more.                                                                                                               

 Algeria: Ministry of Commerce denies the increase of pasta prices by 30%                                                                                            

01/08/2017                                                                                                                                                       The Ministry of Commerce of Algeria has denied, in a statement published on Tuesday, the information indicating an increase in prices of pasta by 30%. The Ministry of Commerce’s Economic Control and Fraud Control services carried out the necessary investigations at the level of the various provinces , “which showed no increase in the prices of pasta at the wholesale or retail stages” , said the same source. “The Ministry of Commerce recalls that it services remain mobilized to ensure rigorous and strict control of sensitive food products, particularly those whose prices are regulated and subsidized, through the fight against all illegal practices”, added the statement. Read more.                                                                                                                 

 Algeria: President Bouteflika inks 5 presidential decrees ratifying international agreements                                                                                                                06/08/17                                                                                                                                                      The President of the Republic, Abdelaziz Bouteflika, has inked five presidential decrees ratifying international agreements, in accordance with article 91-9 of the Constitution, said a statement of the Presidency of the Republic, on Sunday. It concerns the air transport agreement between the Government of the People’s Democratic Republic of Algeria and the Government of the Republic of Tunisia, inked in Algiers on October 26th 2015, and the Cooperation Agreement between the Government of the Democratic Republic of Algeria and the Government of the Kingdom of Saudi Arabia in the field of maritime transport, inked in Ryadh on December 9th 2015. The Head of State has also inked a presidential decree, ratifying the Cooperation Agreement between the Government of the People’s Democratic Republic of Algeria and the Government of the People’s Republic of China, in the field of employment, ... Read more.  

Finance Minister holds talks with UNDP representative             03/08/2017                                                                                                                                                     Algerian Finance Minister, Abderrahmane Raouya, has met, Wednesday with Algiers’s Coordinator of the United Nations System in Algeria, and Resident Representative of the United Nations Development Program (UNDP), Eric Overvest, with whom he discussed cooperation between the United Nations Development Program ‘Algeria and the UN agency, the Ministry said in a statement on Thursday. During this hearing, both sides have exchanged views on arrangements for implementation of Strategic Cooperation Framework for the period 2016-2020, jointly agreed and inked in Algiers, in June 2015, and adopted by the UNDP Executive Board in September of the same year in New York, the same source said.The meeting was also an opportunity for the Minister to present to his guest the broad outlines of the government’s program, as well as those of the New Model of Economic and Social Growth. Read more.                     

M’Sila: More than 50 investment projects validated                   01/08/2017                                                                                                                                                     At least 52 projects, resulting in the creation of 3,000 permanent work for the inhabitants of the province of M’Sila, have been validated recently, revealed services of the province, APS reported. The validated projects are dedicated to the production of paint, inks, in addition to (2) production units for electrical transformers in Ouled Mansour, as well as units in the agro-food industry, according to the information provided by the same source. The services of the province announced the “next” launch of a surgical clinic project and two (02) hotel and entertainment complexes in the capital of El Hodna. Six (06) validated and unsupported investment projects were canceled in M’sila by decision of the head of the local executive, Mokdad El Hadj, added the same source. In a statement to the APS last week, the local chief executive said his services are working to encourage private investment,  create wealth and fight speculation on industrial land. Read more.                                                                           

"Class G" vehicle assembly reached 100% rate at SAFAV-MB  02/08/2017                                                                                                                                                           The assembly of the "Class G” vehicles by the Algerian Company of manufacturing Mercedes Benz cars (SAFAV-MB), coming under the National Defence Ministry (MDN), based in Ain Bouchekif (Tiaret), reached last April, a 100% rate, the manager of production said Tuesday in Tiaret. The assembly rate of 4x4 "Class G" vehicles reached 100% in this company since the commissioning of 21 production stations last April, said Zine Elabidine Mostéfaoui at the APS on the sidelines of the protocol signing ceremony Delivery of more than 400 vehicles produced in this plant. The same rate is expected at the end of the current year for "Sprinter" vehicles with the commissioning of ten production stations. Mr Mostefaoui pointed to the approach to the end of the second phase of vehicle assembly, recalling that the first phase involved a 30% installation for both types of vehicle. Read more.                                                                                    

Sonatrach inks with 2 Turkish groups a memorandum of understanding for dehydrogenation project in Turkey              08/08/2017                                                                                                                                                          The national company Sonatrach inked, on Monday in Algiers, a memorandum of understanding with Rönesans Endüstri Tesisleri lnöaat Sanayi ve Ticaret A. ö. And Bayegan to carry out a feasibility study on a propane dehydrogenation plant project in Turkey, Sonatrach said in a statement. The feasibility study includes the design, engineering, procurement, construction and operation of this plant and the production of 500,000 to 750,000 tons / year of polypropylene in Turkey, the same source said. The national company and its Turkish partners, thus, want to jointly conduct the detailed feasibility study for the project and jointly evaluate the possibility of creating a joint venture for its development. The development in partnership of this project in Turkey will ensure a long-term outlet for Algerian propane, which will be used as raw material for this project of global size, it is noted in the press release. Read more.   

Industry: Towards the revision of tax system of SKD-CKD (Ministry)  01/08/2017                                                                                                                                                       The Ministry of Industry and Mining will  review in-depth the policy of the tax advantages granted under the SKD / CKD scheme, after finding “several dysfunctions” since its implementation in 2000, said Monday the ministry in a statement, APS reported. On the basis of a study carried out by the ministry, the Minister of Industry and Mines, Mahdjoub Bedda, pointed out the  “urgent need to review the policy of the tax advantages granted under the SKD Read more.  

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