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Algerian British Business Council 17-04-2017

Monday - 17 / April / 2017

Monday 17thApril 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

Taxation: Ordinary taxation does better than oil

12/04/2017

Has the decline in oil revenues boosted ordinary taxes? This would indeed be the case, according to Mr Benali Ibrahim, director of communication and general relations at the Directorate General of Taxation (DGI). He said Tuesday on the national radio that the ordinary taxation was better than the oil taxation in 2016. "The ordinary taxation has generated a total receipt of 3.075 billion dinars against 1.682 billion dinars for the oil revenues, "He said adding that the budget of the 2017 budget law was built largely on the receipts of ordinary taxation. "This is a 9% increase in ordinary income," he said. In addition, in 2016, the DGI realized revenues of 2.630 billion dinars, a rate of 121% in relation to the objectives of the FL 2016, explains Mr. Benali. Whereas "for the receipts of the ordinary taxation (customs, directorates and tax centers ...), the level of recovery is 111% in relation to the objectives of the law of finance 2016". Read More

 

 

Energy: Given current appropriate conditions, Algeria to continue to supply European market

11/04/2017

BRUSSELS- All the current conditions would allow the Algerian-European Union energy partnership to continue, said EU Commissioner for Climate Action and Energy Miguel Arias Canete in Brussels on Tuesday. "Considering the unexploited energy potential of Algeria, its close geographical proximity and the existence of good infrastructures for gas transport to Europe, the EU will continue to import Algerian gas, and Algeria should benefit more from the European market," Canete told a press conference held jointly with Minister of Energy Noureddine Boutarfa. Commissioner Canete said that the EU insists that the "mutually beneficial gas trade" would continue and would further develop. To that end, he underlined the need for new agreements on gas supply, investment, production and exploration. However, he said that progress should be made in some fields to further boost Algeria-EU energy cooperation. Read More

 

Algerian exports to Africa: Ongoing negotiations in agricultural mechanization

11/04/2017

ALGIERS- Minister of Industry and Mining Abdessalem Bouchoureb said Tuesday, in Algiers that Algerian operators are currently negotiating export contracts in agricultural mechanization towards Africa and thus, following several medicines export operations.“The African market is at our reach, we have already started to export. We started with medicines and are currently negotiating on markets the agricultural mechanization, including tractors,” said Bouchouareb during his visit to the 15th International Food-processing Fair of Algiers Djazagro, in company of the minister of Agriculture, Rural Development and Fishing Abdessalem Chelghoum.When asked by a private Algerian operator on when the constraints for export will be lifted to conquer the African market, Bouchouareb underlined that the State supports private operators who are already in the continent and those who want to enter this market. Read More

 

Agriculture: Investment opportunities in Ghardaia explained to Polish delegation

14/04/2017

ALGIERS- The Investment opportunities offered by Ghardaia in the sector of agriculture and food-processing have been outlined to the vice-president of Polish Agricultural Market Agency Jaroslaw Olowski on a working visit on Thursday and Friday to the region. Accompanied by senior specialist in the foreign affairs office Magdalena Rowinska and an official of the commercial service at the Polish embassy in Algiers Amel Kouri, the vice-president of the Polish Agency showed great interest in the assets and the potentials offered by Ghardaïa (600 km south of Algiers) in the field of agriculture and dairy production. The president of the Chamber of Commerce and Industry of M'zab, Said Alouani, lengthily presented the daily sector, which is witnessing a wide process of modernization. The official insisted in the need to create powder milk production plants in order to reduce import. Read More

 

Algeria’s economic growth reaches 4% in 2016

12/04/2017

ALGIERS- Algeria’s GDP growth reached 4% in 2016 against 3.8% in 2015, with a steady growth of hydrocarbon GDP, said Wednesday the Governor of the Bank of Algeria Mohamed Loukal. By the end of 2016, the Algerian economy made a growth of 4% with a 3.7% growth in the non-hydrocarbon sector (against 5% in 2015) and a 5.6% growth in the hydrocarbon sector (against 0.4% in 2015), he said in his presentation, at the Council of the Nation, of the report on the country’s financial and monetary growth for 2015 as well as the broad guidelines of 2016. The hydrocarbon sector, which experienced a negative growth of -0.6% in 2014, recorded a strong growth of 5.2 points in 2016 compared with 2015, while the non-hydrocarbon sectors experienced a 1.3 point drop between 2015 and 2016. Read More

 

Algeria's exchange reserves safely managed, Dinar stable since June 2016

13/04/2017

ALGIERS- Governor of the Bank of Algeria Mohamed Loukal said Wednesday that the country’s exchange reserves are "safely" managed. The Governor who answered senators’ questions during a plenary session of the Council of the Nation on the report on the country’s economic situation, added the “currency fluctuation had no impact on the fundamentals of the national economy." The official also said that the Algerian Dinar progressively stabilized from June 2016, as the Euro fell against the Dollar. Loukal who dubbed the economic situation "very critical," however reassured that the country had overcome the crisis thanks to the orientations of President of the Republic Abdelaziz Bouteflika. Read More

 

Nouri calls on investors to opt for large resorts

17/04/2017

ALGIERS- Minister of National Planning, Tourism and Craft Industry Abdelwahab Nouri Abdelouahab Nouri called on Monday in Guelma investors to opt for the implementation of large resorts and to be in line with the momentum characterizing the tourist sector in the country. While inspecting a private project of a tourist village in Hammam Debagh, Nouri highlight the need to opt for large resorts offering high-quality services "meeting international standards and the needs of domestic and foreign tourists." In this regard, he urged investors in the tourism sector to exchange their experiences, stressing that the sector noted the commitment of some successful projects in many provinces, particularly in Skikda, Biskra, El Oued, Ain Temouchent and Mostaganem. Read More

 

 

 

World Bank: Algeria's growth "buoyant" in 2016, to slow down in 2017

17/04/2017

ALGIERS- The growth of Algeria’s economy remained “buoyant” in 2016, despite low global oil prices, said Monday the World Bank (WB), expecting it to slow down in 2017 due to the rebalancing of public finances. In 2016, Algeria "posted a sustained growth at a rate of 3.8%, similar to 2015’s” 3.9%, said the World Bank in its Algeria’s Economic Outlook- April 2017 published Monday in Washington. This solid growth is driven by “the recovery of hydrocarbon production which increased by 3.6% in 2016 compared to 0.4% in 2015," explained the Bretton Woods Institution. This sustained growth is the fruit of a process of rebalancing of the public finances, which allowed reducing the budgetary deficit to 12.2% of GDP in 2016, against 16.2% of GDP in 2015, said the international financial institution. Read More

 

Problem of industrial land will no longer hinder investment

17/04/2017

ALGIERS- Industry and Mining Minister  Abdessalem Bouchouareb declared Monday in Chlef (206 kmwest of Algiers) that the problem of the industrial land will no longer be an obstacle to investment. "The problem of the industrial land will no longer constitute an obstacle to investment, thanks to the instructions given to the provinces governors and to the governmental strategy aiming the creation of industrial activities zones with the use of all the available lands," added Bouchouareb, during a visit to the Industrial Park of Oued Sly. While inspecting the Industrial Park of Boukadir, the minister underlined the need for speeding up processes of surveys and construction of two industrial  parks, spanning 310 ha (Oued Sly and Boukadir), considering that this surface was insufficient for Chlef which has a strategic position. Read More

 

Encouraging, diversifying tourism investment in South

13/04/2017

ALGIERS- Minister of National Planning, Tourism and Craft Industry Abdelwahab Nouri affirmed Thursday, in Algiers, that tourism investment must be encouraged and diversified, notably in the south of the country to build a privileged tourist destination and rationalize the use of land in tourism expansion zones (ZET). In his reply to oral questions by two members of the Council of the Nation on the progress of tourism projects in the southern regions and the importance to draw up tourism plans to preserve land in ZET, the minister said that the national plan of tourism development by 2030 and the national tourism strategy are “two major references to develop the various potentialities that Algeria possesses and the rehabilitation of the national tourist destination.” Read More

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