October 2020 webinar report – select section below

Lord Risby said:
‘Change is in the air. There will be a rebirth of a new Algeria. Despite all the local challenges, impact of Covid, the drop in the energy prices, businesses are taking off – and this has been noticed n ot only by us, but countries all over the world.
‘Algeria is modernising its economy, we in the UK are ready to help with our fintech expertise, our technology. We have technology hubs in Cambridge and London, which are only second in the world to that of the US.
We can help and support the digitalisation needs in Algeria.‘

James Fielder, HSBC Algeria said:
’We have no hesitation in recommending Algeria. It is a good climate to operate in. They are educated , and the youth speak English. Companies who have already set up in the country have done very well. Follow the rules and dividends can be repatriated. Manufacturing has prospered. Retail is moving ahead especially on line. While cash and cheques are still in the system, digitalisation of payments are coming, which will make a huge difference all round.
‘ We remain positive about the government announcements which should help new entrants. Changes have already happened which are unthinkable not so long ago.‘

Mathieu Beaucourt, Partner and CEO KPMG Algeria:
‘We see a rapidly expanding market. The devaluation of the dinar has made the country even more competitive for exports. While reforms have been in the pipeline for some years, today they are becoming a reality. Removing the obligation of a 49/51 partnership is significant and important. A foreign investor can have complete control on his company. Local companies and investors need to import raw materials and parts which has become a problem due to the pressure on the dinar. Permission to import has been difficult. But new regulations are being put in place to resolve this’
We see a definite momentum. Normalisation of doing business in Algeria is happening. A new Algeria is not a slogan, it is a reality.’

Screenshot from October webinar