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Algerian British Business Council 22-01-2018

Monday - 22 / January / 2018

 

Monday 22nd 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: Forum des Chefs D’Enterprises Sonatrach conference on Renewable Energy, Algiers January 17-20

The Minister for Energy, Mustapha Guitouni opened the conference with a personal message from H.E. the President Abdelaziz Bouteflika in which the government expressed its commitment to developing the renewable energy sector. In further remarks Mr. Guitouni spoke at length and took questions about the government’s plans for expanding the solar energy programme plus wind energy.  In particular he announced that there would be important tenders for solar energy to which the private sector can contribute. Also present was the CEO of Sonatrach Mr. Ould Kaddour who has drawn considerable respect from the energy sector for his handling of an important department. Presentations on solar energy were made by Engie, France (who today embrace Balfour Beatty), TOTAL France and ENI, Italy. Says a leading UK solar energy company Adel Baba-Aissa of Renewable Energy Partner, “This has been an important conference demonstrating a serious commitment by the Government to renewable energy.  We look forward to the publication of the tenders. We already produce solar energy which goes directly into the grid and look forward to doing more’.

ALGERIA: Economic benchmarks: The year 2018- what we can predict

15/01/2018

At the beginning of a new year, the same nagging question comes back. What will happen to the Algerian economy in the coming years? During the courses, seminars and discussions in Algeria and abroad, the same question is raised as an essential concern of the citizens of this country. It is generally mistaken to think that an economist is a futurist. It is considered that it has the tools and methods to make reliable forecasts.This is the case of some economists, but not all and not automatically. The political and social context also plays a decisive role. In developing countries, the interfaces between political and economic phenomena are so extensive that it is necessary to make assumptions about the fields of non-economic domains. Read more.

ALGERIA: Algeria drops privatization plans

14/01/2018

The Algerian presidency has totally rejected the government’s plans to partly privatize state-owned companies, reports have said. During a meeting held last month with the Labor Union and business owners, the cabinet expressed readiness to privatize the firms in order to help the country’s stumbling economy. But Algerie 1 news website quoted informed sources as saying that the presidency has informed Prime Minister Ahmed Ouyahia of its total rejection of any privatization process. The presidency’s instructions include big firms and small and medium enterprises, the sources said. In 2016, Reuters said that Algeria plans to allow its dominant state banks to list on the local stock exchange to help develop its financial markets and diversity sources of funding after the oil price slide. If implemented, the plan will open the door for foreign investors to acquire controlling stakes in banks reversing a rule requiring Algerian firms to keep a majority shareholding in any partnership with foreigners…Read more.

ALGERIA: Employers defend the option of a public-private partnership

16/01/2018

Bosses of employers’ organisations continue to defend the option of a public-private partnership (PPP) while President Bouteflika has just reframed his Prime Minister on the privatisation project of public companies. “The President of the Republic is sovereign and decides in the name of the people. I think his intervention was aimed at putting an end to the misinterpretation of what came out at the meeting on 23 December (tripartite, editor’s note). His output came to the point of naming to stop a certain interpretation of things. Because everyone interprets in his own way, sometimes for questions of interest. In the end we had to put a stop to it” reacted Mohand-Said N’Abdelaziz, president of the Algerian National Confederation of Employers (CNPA), joined yesterday by phone. Read more.  

ALGERIA: Sonatrach; Conference on Renewable Energies

10/01/2018

What Forum Chefs d’Enterprise (FCE) and Sonatrach are preparing; the Prime Minister will inaugurate the conference-exhibition organised by the FCE and Sonatrach on January 17, 18 and 19 at the Palais des Expositions in Pins Maritime (Algiers). This event will be held under the theme: ‘Succeeding the National Energy Transition Strategy for 2030.’ This meeting is supposed to shed light on the problems hindering the development of this sector and outline the roadmap to succeed in the energy transition. This event will give a strong signal to domestic and foreign investors and especially to the donors. The energy sector has always been the engine of the National Economy. The government, according to the document of the FCE, has decided the launch of a renewable energy development plan of 22GW, dedicated to the only local consumption, and to realise during the period 2017-2030/40. Read more.

ALGERIA:National Employment Agency- more than 400,000 investments planned for 2018

18/01/2018

The National Employment Agency (ANEM) plans, during the current year, to place 400,000 new applicants in the economic sector and another 100,000 as part of the support schemes for professional integration (DAIP) and assisted work contract (CTA). This was stated yesterday, Mohamed Tahar Chaalal, director general of the ANEM, guest of the forum of El Mujahid. In addition to these investments, it adds a series of new features that will connect the two branches of employment, namely supply and demand. Among these new features in 2018, he announced the upcoming launch of a mobile application that will allow the employer and the applicant to access the Anem platform more easily and at any time. New jobseekers will be able to register online for free. Read more.

ALGERIA: The 2018 Finance Act meets the requirements of the citizen and is moving towards a new economic course

15/01/2018

EL TARF - The expert and former Minister of Finance, Abderrahmane Benkhalfa estimated Monday in El Tarf that the 2018 Finance Act meets the requirements of the citizen and is moving towards a "new economic course".Presenting a communication on the provisions of the LF 2018 and its impact on investment, enterprise and the business movement, organized at the initiative of the CCI-El Mordjane Chamber of Commerce and Industry, he stated that the budget allocated for the 2018 financial year is "exceptional", arguing that this budget guarantees a "financial rebalancing and a gradual revitalization of the economy of an emerging country".Developing a reading of the LF 2018 based on four parameters (price of a barrel of oil, resources, including water, levels of coverage of external commitments and the viabilisation of infrastructure), Mr. Benkhalfa highlighted the efforts made by State in the frame of the LF 2018 for the support of the various fields related to the improvement of the living conditions of the citizens. Read more.

ALGERIA: Algeria bans imports of 900 products to curb spending

13/01/2018

Algeria continues to implement time buying measures to compensate for falling oil revenues. The country has banned imports of a list of nearly 900 products including mobile phones and household appliances as its foreign currency reserves are expected to further fall to $85 billion in 2018, down from $194 billion in 2013. The ban was described by analysts as the most drastic since the country was battered by the slump in oil prices in 2014. The goods banned from imports also include furniture, most vegetables, some meats and fruits, cheeses, chocolates, pastries, pasta, juice, bottled water and some building materials, according to a document of the trade ministry. The move comes after a series of other austerity measures to curb spending. Algeria has imposed a 30% rise in taxes and customs duties as well as a quota on car imports. Read more.

ALGERIA: Algeria and Libya agree to jointly manage oil fields on shared borders

16/01/2018

Algeria’s state-run oil company Sonatrach signed an agreement, Monday, with the Libyan National Oil Corporation (NOC) to run a number of crude oil fields located on the borders between the two countries. The agreement included updating a study that was carried out on 2006 concerning Al-Rar and Al-Wafa oilfields, which located on the shared borders between Algeria and Libya, according to a statement by Sonatrach. Al-Rar gas field is located on the Algerian side of the border, while Al-Wafa oilfield is located on the Libyan side of the border. An official at Sonatrach, who preferred anonymity, told Anadolu Agency, said the study would “clarify the hypothesis of the connection between the Algerian Al-Rar gas field and the Libyan Al-Wafa oil field.” Read more.  

ALGERIA: InterContinental Hotels Group debuts in Algeria

14/01/2018

InterContinental Hotels Group (IHG), one of the world’s leading hotel companies, has announced the opening of Holiday Inn Algiers- Cheraga Tower in Algeria. This opening marks the company’s debut in the country and with this addition, IHG now has 25 operational hotels across nine countries in Africa. Featuring 242 well-equipped rooms, Holiday Inn Algiers- Cheraga Tower is strategically located west of Algiers and is in close proximity to international business centres and embassies. Additionally, guests staying at the hotel will have easy access to popular tourist spots such as Downtown, Hydra District, the Opera and Sidi Fredj Marina. Read more.

 

 

 

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