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Algerian British Business Council 18-12-2017

Monday - 18 / December / 2017

Monday 18th December 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: Feraoun would introduce Vodafone and Orange and kill national operators

18/12/2017

The government has frozen the ICT bill on the eve of its presentation in parliament to avoid the ruin of national operators. According to reliable sources, this bill, prepared by the Minister of Post and Information and Communication Technologies Houda Imane Feraoun, provided for general authorizations to prepare for the arrival on the Algerian market of two international giants, ICT, namely British Vodafone and French Orange. The establishment in Algeria of these two big companies would certainly have completed what still remain national operators. It is under the heading "facilitation and encouragement of investment" that Houda Imane Feraoun wanted to introduce Orange and Vodafone on the Algerian market. Read more

ALGERIA:Economy- “Algeria goes in the right direction” assures Abdelkader Bensalah

12/12/2017

The President of the Nation Council echoed the optimistic comments made by the Minister of Finance, saying after the adoption of the 2018 Finance Act that Algeria is in "the right direction”, despite economic difficulties, consecutive to the decline in oil revenues. "Algeria, despite what is said here and there, is doing well and the internal and external economic indicators are there to confirm it and the many analyses of international financial institutions attest to this and say that Algeria is moving ahead in the right direction, "said Bensalah. Regarding the law on the Currency and Credit, adopted in November in the Council of Ministers, the number two in the Algerian protocol order explained that its amendment was intended to provide the government with a powerful legal mechanism, which is the resort to unconventional financing to secure the needs of the national economy and boost development momentum. Read more.

ALGERIA: The Council of the Nation adopts the 2018 Finance Act- Green light to the government

12/12/2017

The text of the 2018 Finance Law, adopted yesterday, provides for overall expenditures of 8628 billion dinars, consisting of 4043.31 billion capital expenditures and 4584.46 billion dinars of operation. The Finance Act 2018 was adopted almost unanimously yesterday by the National Council, which, after the National People’s Congress (NPC), gives the government the discharge to implement the budgetary provisions for the next year. After the signature of the President of the Republic on December 31, the Executive will be in charge of implementing a series of measures, the most unpopular will certainly be the one concerning the increase of the Petroleum Products Tax (TPP), including a rise of 5 DA on the litre of gasoline and 2 DA on that of the gas oil. Read more.

ALGERIA: Pharmaceutical Industry; MoU on creation of vaccine production plant in Algeria signed.

11/12/2017

A Memorandum of Understanding on the creation of a joint venture for the production of vaccines in Algeria was signed in Algiers by Saidal group, the Pasteur Institute of Algeria and Sanofi Pasteur, said Saturday a statement of the group Saidal. This mixed company provides for the manufacture of three vaccines Sanofi Pasteur latest generation, namely; Hexavalent and Tetravalent, two pediatric vaccines for protection against diphtheria, tetanus, whooping cough, hepatitis B, polio and invasive infections caused by Haemophilus influenza type B, as well as the influenza vaccine Tetravalent, said the same source. Read more.

ALGERIA: Centre Port: Launch of construction works in 2018.

09/12/2017

Algiers- The mega project of the Centre Port of El Hamdania initiated in the framework of an Algerian-Chinese partnership, arrived at the phase of the ‘last retouches’ before the beginning of the works of its realisation in 2018, said by Minister of Public Works and Transport, Abdelghani Zaalane, on Saturday in Algiers. “The Centre Port’s Detailed Design (PDA) is coming to the last touch, and we have deliberately taken our time and not rushed into the launch of this strategic project to avoid costly overvaluations,” Mr Zaalane said to the press on the sidelines of the 2nd edition of the International Symposium on Translogistics, Transit and Storage of Goods (Sittem). Read more.   

ALGERIA: Despite difficult economic conditions: Citibank optimistic for the future of the Algerian market

15/12/2017

In crisis for two years, Algeria has been forced to make decisions to deal with the drying up of part of its financial resources, puzzling some domestic and foreign observers of the national economic scene. However, major players in the global banking sphere prefer to maintain a certain degree of optimism vis-à-vis the dubious options advocated by the Algerian government. At Citigroup's fourth summit for the EMEA (Europe Middle East Africa) region held recently in London, representatives of the US bank, questioned about the economic and financial situation in Algeria, showed a lot diplomacy and prudence. In spite of the difficult economic situation, Algeria is still perceived as a country with great potential, like the whole MEA region. Algeria "is a country where we have customers for several years. Read more.

ALGERIA: What Algeria imported and exported during the first ten months of the year

11/12/2017

Imports from Algeria totalled $38.18 billion in the first 10 months of 2017, according to the latest figures from the National Centre for Informatics and Statistics (CNIS). Exports amounted to $28.67 billion during the same period, resulting in a trade deficit of $ 9.6 billion in the first 10 months of this year, compared to a deficit of $14.4 billion for the same period of 2016. Capital goods ($12.2 billion) and goods for the tools of production ($11.8 billion) accounted for the main items of import expenditure (63% of imports). They are followed by food products (7.1 billion) and non-food consumer goods (7 billion). In the capital goods category, electrical apparatus for telephones or telegraph accounted for $1 billion in imports, followed by imports and ships ($470 million) and valves ($395 million). Read more.

ALGERIA: Foreign exchange reserves of Algeria to 100 billion dollars in November

10/12/2017

Algeria's foreign exchange reserves stood at 100 billion dollars in November 2017, Finance Minister Abderrahmane Raouya told APS on Sunday in the margin of his presentation of the 2018 Finance Bill to the Council of the nation.As a reminder, Mr. Raouya had recently indicated that Algeria's currency mattress was $ 102.4 billion at the end of September 2017. Last October, Raouya had forecast that foreign exchange reserves could fall back to $ 97 billion at the end of December 2017.According to its forecasts, foreign exchange reserves are expected to stand at $ 85.2 billion at the end of 2018 (the equivalent of 18.8 months of imports), and at $ 79.7 billion in 2019 (18.4 months of imports) before reaching $ 76.2 billion in 2020 (17.8 months of imports). Read more.  

ALGERIA: UN optimizes growth in Algeria

13/12/2017

The UN was optimistic Monday on the growth in Algeria which is expected to remain in favor of improved prices and production of hydrocarbons, while the country is heading for diversification of the economy. Algeria's real GDP growth is expected to reach 2.8% in 2017, compared to 3.1% in 2016, a continuation recorded this year in the wake of the rebound in growth observed for North African countries, underlines the UN in its report on the outlook for the global economy, presented Monday in New York. "The rise in oil and gas prices has boosted the growth of the real GDP of Algeria and Libya," said the report prepared by the Department of Economic and Social Affairs of the United Nations (DESA). Read more.

ALGERIA: Algeria’s Sonatrach plans closer ties with Total on energy projects

13/12/2017

Algerian state energy firm Sonatrach and Total are planning to work more closely together on offshore petrochemical, solar energy and shale exploration projects, Sonatrach’s CEO said on Wednesday. The CEO’s comments signal a new chapter for the companies’ efforts to cooperate on energy projects and show they have put behind them past disputes, including one in the mid-2000s over profit-sharing on oil and gas contracts. “Our relation with Total is good now. We will do a lot together including in shale, solar and offshore. We are also into petrochemicals”, Sonatrach CEO Ould Kaddour told reporters. He was speaking on the sidelines of a ceremony for Total and Sonatrach to sign a joint cooperation deal to produce 5 million cubic metres of gas by April 2018 at Algeria’s Timimoun gas field. Read more.

 

 

 

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