BEIJING – Wednesday, 19 July 2023 (APS) – President of the Republic, Abdelmadjid Tebboune, said on Wednesday from Beijing that Algeria was a promising investment destination in vital sectors, thanks to the advantages it offers, calling on Chinese businessmen to enter into partnership and invest in order to benefit from the facilities provided.

“Algeria today has a number of assets and advantages that make it a promising investment destination in a wide range of sectors such as agriculture, energy, agri-food and pharmaceuticals,” as well as in the sectors of “tourism, transport, services, renewable energy and infrastructures, thanks to the decisions and measures we have introduced, said President Tebboune in his message to the Algerian-Chinese Business Forum, read out on his behalf by Minister for Foreign Affairs and National Community Abroad, Ahmed Attaf.

“Algeria is continuing to develop the energy sector through oil and gas exploration and production operations to ensure high levels of processing, and is working to develop and exploit its capacities in the mining sector, by creating a favourable investment climate based on efficiency and economic competitiveness, by encouraging entrepreneurship, the knowledge economy and start-ups, and by reforming the banking and financial system,” he said.

In this regard, President Tebboune said that ” Algeria’s path is open to Chinese businessmen for partnership and investment in all sectors, in order to benefit from the facilities granted to Chinese businessmen.

“During my visit to the People’s Republic of China, a friendly country, at the invitation of His Excellency the President and dear friend, Xi Jinping, we have succeeded in setting a new milestone aimed at strengthening relations between the two countries,” he added.

President Tebboune also said that his visit to China “reflects the common determination of Algeria and China to strengthen bilateral cooperation,” adding that this State visit was “a sincere expression of Algeria’s commitment to working to promote positive relations, to which we attach fundamental importance.”

The Algerian-Chinese Business Council is “one of the mechanisms that reflect the common determination of the both friendly countries to develop mutual partnerships and investments that will generate wealth,” said President Tebboune.

President Tebboune further expressed his wish for “a stronger and lasting Algerian-Chinese friendship and greater cooperation in the best interests of both countries.”