Algerian President Abdelmadjid Tebboune announced that Russian companies can rely on Algerian support. During a Russian-Algerian business forum on Wednesday, Tebboune stated, “We urge Russian companies, whether private or state-owned, to rely on Algerian support.”
President Tebboune led his country’s delegation at the Russian-Algerian Business Forum under the theme “Opportunities and Prospects for Cooperation and Development between Russia and Algeria.”
Speaking at the forum, the Algerian President said, “This meeting is a valuable opportunity to explore the economic potentials available in both countries. Algeria, which has launched a multi-dimensional economic recovery program, has prioritized the review of the investment-impacting legal framework. The aim is to provide a conducive business environment. In this regard, a new investment law has been issued, procedures have been simplified to encourage investment, and the concept of entrepreneurship, small and startup enterprises has been promoted, along with a focus on technological transformation, industrialization, and the knowledge-based economy.”
Additionally, President Tebboune, in a speech delivered on the sidelines of the Russia-Algeria Business Forum in Moscow, called for the opening of Russian banks in Algeria and emphasized the simplification of procedures to facilitate investment in Algeria.
President Tebboune’s visit to Russia takes place from June 14th to 16th. There are 14 international government agreements, as well as around 30 protocols, memoranda, and cooperation programs between Russia and Algeria. High-level political dialogue between the two countries continues regularly.
