The United States is the first investor in Algeria and our economic relations – new Algeria

The US Ambassador to Algeria revealed, Elizabeth Moore ObinOn the features of a growing economic partnership between the two countries, confirming that Washington is ranked first as the largest foreign investor in Algeria, where it acquires about 29% of the total balance of foreign direct investments, according to the data of the International Monetary Fund.

Wide economic presence

Obin explained in a press interview with a newspaper.Expression“More than a hundred American companies are active in the Algerian market, covering the fields of energy, technology, communications, defense and agriculture, and that the agreements between the two sides are announced almost daily in the media. It also indicated that the volume of bilateral trade exchanges amounted to $ 4.2 billion in 2022, with a common ambition to increase this number in the coming years.

Innovation and entrepreneurship … a crane for cooperation

The Ambassador stressed that innovation and entrepreneurship represent two main engines of the modern economy, praising the support provided by the Algerian government, as well as the CLDP program development program, for startups through training and financing. She reminded that the program, which has been active for more than a decade, contributed to exchanging experiences and developing the business environment in line with international standards.

A new investment fund for startups

In the context of entrepreneurship support, the international workshop “Startup, Development and Investor Connect” witnessed the announcement of the establishment of the first special investment fund directed to startups in Algeria, in the form of a “joint investment fund” FCPR), inspired by the global model “General Partner/Partner” (GP/LP), and with a fully dependent financing on Special capital.

Agricultural cooperation with regional ambitions

The Algerian-American cooperation also extends to the agricultural field, where the “Our Country-Algeria” project is highlighted as an example of a successful partnership. 14 contracts were signed with a value of more than $ 500 million with companies specialized in irrigation systems, including the American giant company “Valont”, to supply advanced equipment commensurate with the conditions of the local climate. The project aims to make Algeria a regional milk production center by 2026, depending on a herd imported from the United States that was carefully chosen to achieve high productivity and ability to adapt to the environment.

Legal reforms to attract capital

Obin also pointed out that the new Algerian investment law, which was passed by a presidential decision, is a qualitative shift in attracting foreign investments, as it sets a simplified legal framework, provides greater protection for projects, and gives special tax incentives. Economists believe that this new legislative framework opens the way for more ambitious bilateral projects, and contributes to enhancing transparency in the access of the Algerian market.