LONDON, — Some 190 British businessmen will participate in the Algeria-United Kingdom Investment Forum in Algiers on Sunday with a view to exploring investment opportunities in Algeria, the event’s co-organizer, Atam Sandhu, says.

British businessmen have become more aware of the Algerian government’s commitment to diversifying the country’s economy, said Sandhu, who is chief executive officer of consultancy Developing Markets Associates.

He added that the businessmen had expressed great interest in various sectors in Algeria, especially industry, hydrocarbons, infrastructure, renewable energy, transportation, information communication technology (ICT) and financial services.

The sectors of transport, engineering and logistics will be represented by Tell Group and Sarens, oil services by Petrofac, engineering and power plants’ installation and maintenance by Clarke Energy, project management by Amec Foster Wheeler, services by Grant Thornton, pharmaceutical industry by AstraZeneca, which is already operating in Algeria, he said.

The forum will be also marked by the presence of Richard Risby, the personal representative of British Prime Minister David Cameron, Chief Secretary to the Treasury Gregory Hands and Chairman of the Algerian-British Business Council (ABBC) Lady Olga Maitland.

Algeria’s business climate is “very favourable and promising”, said Sandhu, who noted the strong presence of leading British companies in Algeria, where investment opportunities are huge.

A similar forum was held in London in December 2014, with the participation of nearly 500 companies from the two countries, he said, adding that “it was a success, hence the decision to hold a second one”.

Lord Risby told APS that the forum would be an additional opportunity to encourage British investments in Algeria, underlining Britain’s readiness to assist Algeria in the diversification of its economy.

He also expressed satisfaction at the development of partnership between the two countries outside hydrocarbons, reaffirming that Algeria “is a privileged partner” for Britain.

For his part, Algerian Ambassador to London Amar Abba said that the forum “is a strong moment in the relations between the two countries”, adding that economic co-operation had been marked, over the past ten years by the building of a multi-sectoral partnership outside hydrocarbons.

He said the forum would be an excellent opportunity for the two governments to assess bilateral economic co-operation and identify new areas in order to further strengthen it, and would allow businessmen to establish mutually beneficial partnerships.

Source: Name News Network

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