On Monday in Algiers, fourteen Russian companies and around twenty national entrepreneurs took part in the first day of a business forum focused on information and communication technologies (ICT) and construction in Algeria.
Over 200 national companies have registered to participate in this event, organized with the involvement of the Russian commercial representation in Algeria, which is set to conclude on Tuesday.
Encouraging Partnership and Investment
“We ensure our operators are aware of the new investment code and its benefits, and consider investing in Algeria. This time, we’ve chosen construction and ICT, but there will be other business missions in other sectors,” explained Ivan Nalitch, head of the Russian Economic Mission in Algeria. He noted numerous projects underway in Algeria that could interest Russians, particularly in the development of the digital strategy in the fields of public works, road, and rail, among others.
For Rabah Charef, vice-president of the Algerian Chamber of Commerce and Industry (CACI), this event will be an opportunity to strengthen and encourage investment opportunities in the country. “This meeting will aim to promote partnership and investment rather than purely commercial sales. The two sectors chosen for this forum are of utmost importance and strategic to the national economy,” he clarified.
A Huge Potential for Cooperation and Partnership
Lakhdar Madjene, vice-president of CACI and president of the Djurdjura Chamber of Commerce and Industry, affirmed that Algeria has significant potential for developing economic and commercial relations with Russia, especially since the economies of both countries are complementary. He recalled that Algeria’s economy ranks third on the African continent, having experienced strong GDP growth between 2021 and 2023, with annual growth rates close to 4.2%.
“On a bilateral level, based on the current state of advanced economic realities, economic and commercial relations between Algeria and Russia are poised for new growth. There is enormous potential for cooperation and partnership between our two countries,” he estimates, emphasizing national economic ambitions and achievements, and highlighting the proven expertise of Russian companies in various economic fields.
Boosting Trade Volume
This meeting, Lakhdar Madjene continues, presents a real opportunity to boost the volume of trade and elevate it to the desired level through direct meetings between business communities of both countries, focusing on projects and mutually beneficial partnerships. “This indicates an ambitious perspective for the development of our economic and commercial relations, which have so far remained below what they should be,” he noted.
Abdelwahab Gaoua, president of the Algerian Group of Digital Actors (GAAN), is confident that discussions and negotiations in the technology sector will be fruitful. “Algeria is one of the most dynamic actors in ICT in Africa, placing digitalization and digital transformation at the top of its economic pyramid. There are no shortages of cooperation opportunities between the two countries in this sector,” he supports, noting that this forum will also be an occasion for the Russian side to discover our capabilities and ecosystem in this domain.
