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Algerian British Business Council 15-01-2018

Monday - 15 / January / 2018

 

Monday 15th January 2018

 

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: Optimistic WB forecasts strong growth rebound in 2018

10/01/2018

The World Bank (WB) Tuesday raised its growth forecast in Algeria for 2018 and 2019, a rebound that will be supported in particular by the government’s new budget measures concerning the financing of investment. Resolutely more optimistic, the Bretton Woods institution notes in its semi-annual report on the global economic outlook, published in Washington, that growth in GDP of Algeria is expected to stand at 3.6% in 2018 against 1% expected in its last edition of June 2017, an increase of 2.6 points. The WB also adjusted upward its growth forecast for 2017 to 2.2% against 1.8% originally forecast which represents a difference of 0.4 points. Although growth should slow slightly in 2019 to 2.5%, it will however remain up on point from the forecast of 1.5% anticipated last June, according to the same forecasts. Read more.

ALGERIA: Algeria invested more than 2 billion dollars into the environment over 15 years.

08/01/2018

The Minister of the Environment and Renewable Energies, Fatima Zahra Zarouati, affirmed Monday in Batna that Algeria has invested over the last 15 years more than 2 billion dollars in the environment. Presiding a meeting with representatives of the civil society and the executives of her department at the house of the environment, the Minister considered that these investments and the legal arsenal put in place have helped to promote the environment sector. "We must move to a new stage that will include the exploitation of these investments to boost economic growth and make the environment a generator of wealth and employment," she said. Read more.

ALGERIA: Algeria’s Sonatrach may invest in Iraq oil exploration, natural gas

09/01/2018

Algerian state energy company Sonatrach will study possible investments in oil exploration and natural gas projects in Iraq, the Iraqi oil ministry said in a statement on Jan. 7. The statement cited comments by Iraqi Oil Minister Jabar al-Luaibi and Algerian Energy Minister Mustapha Guitouni, who arrived in Baghdad on Jan. 7. The Algerian delegation will hold meetings with Iraqi energy companies “to achieve concrete steps toward sealing a cooperation agreement with Sonatrach,” Luaibi said, mentioning specifically projects to develop Iraq’s gas wealth. Iraq continues to flare some of the gas extracted alongside crude oil at its fields because it lacks the facilities to process it into fuel for local consumption or exports. Read more.

ALGERIA: Youcef Yousfi to inaugurate several industrial projects in Algiers

08/01/2018

Several industrial projects will be inaugurated tomorrow in Algiers by the Minister of Industry and Mines, Youcef Yousfi, in the sectors mainly spare parts of vehicles, mobile telephony, food and construction materials. The Minister of Industry and Mines, Youcef Yousfi will inaugurate Monday a unit of production of brake pads and brake shoes in Oued El Karma (commune of Saoula), indicates a statement of the Ministry of Industry and Mines. In a first phase, this project will start with the production of brake pads with a production capacity of 100,000 units in 2018 before increasing to 200,000 units in 2020. But it is from 2019 that this plant will start production brake jaws with a production capacity of 100,000 units/year. Read more.

ALGERIA: Oil: Market rebalancing on track, says OPEC

06/01/2018

The price of the crude oil reference basket of the Organization of Petroleum Exporting Countries (OPEC) stood Thursday at 66.13 dollars per barrel, against 65.12 dollars the day before, said Friday the organization on its website.Introduced in 2005, the OPEC Reference Basket comprises fourteen (14) types of oil, including Sahara Blend (Algeria), Iran Heavy (Iran), Es-Sider (Libya), Basra Light (Iraq), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Girassol (Angola) and Mery (Venezuela). It is worth noting that on Thursday, oil prices held up at the end of European trade, with both market benchmarks evolving to high levels as US crude oil reserves fell last week. Read more.

ALGERIA: Positive economic outlook for Algeria

05/12/2018

The economic outlook remains positive for Algeria despite the challenges linked, in particular, to the fall in state revenues caused by the decline in oil prices since 2014, says the British group of economic experts, Oxford Business Group (OBG). In an economic retrospective of the year 2017 on Algeria published this week, OBG points out that a recent study it conducted with business leaders showed that 61% of these had expectations ‘positive or very positive’ on the Algerian business climate for the next 12 months. 70% of business leaders surveyed said it was ‘likely or very likely’ that their company will spend significant capital investments in 2018. On the other hand, it is noted that a majority of respondents to recent changes of the Algerian tax system considered that the fiscal environment was "disadvantageous or very disadvantageous". Read more.

ALGERIA:Cement: Gica records record production of nearly 14 million tonnes in 2017

08/12/2018

The Industrial Cement Group of Algeria (Gica) recorded a record production of almost 14 million tons in 2017, an increase of 11% compared to 2016, we learn from this public cement. Its production climbed to 13,950,660 tonnes in 2017, compared to 12,604,045 tonnes in 2016, an increase of more than 1.34 million tonnes. With its 12 cement plants, Gica achieved its third consecutive record, surpassing even its forecasts for a production of 13.17 million tons of cement for the year 2017. This sharp increase in production was achieved thanks to the entry into service of the second production line of the Ain El-Kebira cement plant (Setif) in the first quarter of 2017. Indeed, this new line has produced more than 1.5 million tons of additional cement last year, bringing the total output of the Ain El-Kebira cement plant to more than 2.9 million tons of cement, knowing that at full capacity, it should reach an annual production of 3 million tons. Read more.

ALGERIA: Eradication of 1,050 informal markets by the end of November 2017

07/01/2018

ALGIERS - The number of informal markets eradicated by the end of November 2017 reached 1,050 out of 1,453 identified in 2012, APS learned from the Directorate of Regulation and Organization of Activities at the Ministry of Commerce.However, 85 new informal markets were reported, while 216 reappeared after eradication, the source said.The operations against the informal markets resulted in the inclusion in the legal commercial fabric of 21,239 stakeholders operating within these markets, out of the 50,677 informal stakeholders identified in 2012. The number of informal markets still to be eradicated amounts to 403, says the Directorate of Regulation. Read more.

ALGERIA: Prohibited products- the list is controversial

08/01/2018

The list of products prohibited for import at 851 is not unanimous among producers. Worse, it may cause the closure of dozens of factories and other production units because of the ban on the import of certain products essential to their operation. This is particularly the case for the ceramic industry, where dozens of factories risk putting the keys under the mat as the raw material imported from Spain was clumsily put on the blacklist. As a result, more than 20,000 workers are threatened with unemployment. Faced with the situation, the Minister of Industry, Youcef Yousfi, acknowledged the existence of inconsistency, even contradictions in the list of banned products and promised to discuss with producers and review the list with his colleague from Commerce Department. Read more.

ALGERIA: Habitat: the new strategy aims to preserve the financial resources of the State

10/01/2018

ALGER - The new strategy of the sector of the Habitat, urbanism and the city, aims at the preservation of the financial resources of the State through the prohibition of the return of the budget envelopes allocated to the various projects to the masters of before the finalization and approval of the study, said Tuesday in Algiers, the Chief of the sector, Abdelwahid Temmar. Speaking to the Finance and Budget Committee of the National People's Congress (NPC) as part of the review of the 2015 budget regulation bill, Temmar stressed the importance of preserving financial resources of the State through the prohibition of the return of the budget envelopes allocated to the various projects to the project managers before the finalization and the approval of the study of realization, in addition to the reduction of the complete financing by the State some housing formulas. Read more.

 

 

 

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