Algeria wants to put capital into BRICS bank and Shanghai organization

Foreign Minister Ahmed Attaf, who gave an interview to Italy’s official news agency Nova (published on Wednesday), said Algeria wants to enter the BRICS bank capital and has applied to join Shanghai Cooperation Organization (SCO).

“We have expressed our intention to join the BRICS and look forward to the summit in South Africa in August. We have been informed that decisions on the accession criteria will be taken at that time. We await those decisions,” Attaf told the Italian news agency, adding that “Algeria intends to contribute capital to the New Development BRICS Bank.”

The head of Algerian diplomacy added that “in addition, we have also asked to become an observer country within the framework of the Shanghai Cooperation Organization”.


Hakim Boutahra, Fiat-Algeria Managing Director at FIA: ‘12,000 Fiat vehicles on the Algerian market from July’

Scion Industrial ENgineering pvt. Ltd.

The Algerian car market will be equipped with a large number of FIAT vehicles from July onwards, between 10,000 and 12,000 units. This was stated by the Managing Director of Stellantis Group for North Africa at a press conference at SAFEX on the side-lines of Algiers International Fair. Boutahra revealed that they would be importing until the end of the current year to supply the domestic market, saying this is part of a strategy to meet the strong demand for Italian-made cars by Algerians, who have moved to different points of sale since the project was announced.

According to the representative of Stellantis Group, all decisions were taken to meet the high demand of the local market, stating that his company continuously works to ensure the availability of vehicles and meet the demand of the market. “Our showrooms have so far registered no less than 20,000 orders in two months and, based on this figure, we have taken steps to ensure the availability of the Italian brand models that are currently marketed on the local market,” he explained, recalling that the import of new vehicles began on March 19, a highly symbolic date for the history of Algeria.

The spokesperson of Stellantis Group for North Africa noted that Fiat Algérie team has worked continuously to ensure the supply of cars to the national market and stated, with regard to the future plant in Oran, that the pace of work on the assembly unit is appreciable, which will make it possible to say that the completion deadlines “will be respected”. “The rate of progress of the work has reached 64% and the first Algerian-made “Fiat 500” car will leave the factory in December 2023, respecting the dates announced by the “Fiat” brand, followed by a second stage for the production of two other types of vehicles in the first quarter of 2024,” he assured.

Boutahra also mentioned the meeting organized in Italy, in coordination with the Algerian Embassy in Italy, where about 50 subcontractors specialized in the mechanical industry expressed their will to invest in this sector in Algeria, adding that these companies are currently studying this offer.


Global energy markets: Sonatrach CEO calls for common African vision

Sonatrach’s CEO, Toufik Hakkar, said efforts should be “intensified to consolidate Africa’s role and capacity to benefit from its natural resources, strengthen economic integration, enhance the sense of collective responsibility, and facilitate the exchange of energy expertise and technologies among its countries, which will benefit its people.”

Sonatrach Group CEO Toufik Hakkar, at the 1st Forum of Directors of Oil and Gas Training Institutions of Member States of the Organization of African Petroleum Producers (APPO), held in Skikda on Wednesday, called for a common African vision to address the challenges posed by the evolution of global energy markets.

Toufik Hakkar said it was necessary to “unify visions and share roles among African countries to meet the demands of global energy markets.”

Speaking at the opening of the Forum organized by the Algerian Petroleum Institute (IAP), Sonatrach’s CEO further stated that “the changing global context demands keeping pace with the continuous technological development in the energy sector”.

This, he added, requires “unifying visions, pooling capacities, and sharing roles, so that African countries can meet the increasing demands of global markets for quality and economic efficiency.”

The forum, organized at the Algerian Petroleum Institute in Skikda, brought together, in addition to the Secretary General of APPO, the executive members of this body and the directors of the training institutions in the field of oil and gas representing 15 member countries of this organization: Algeria, Angola, Benin, Cameroon, Chad, Congo, Côte d’Ivoire, Gabon, Niger, Nigeria, Egypt, Equatorial Guinea, Libya and South Africa.


National market: Economic and commercial attractiveness highlighted

Algeria has made progress in terms of attractiveness and intends to communicate more in order to enhance its attractiveness to foreign investors and develop its influence in the region.

This is the objective of the organization of the International Fair of Algiers (FIA) which brings together more than 630 participants is an exceptional showcase to promote the domestic market and attract foreign capital. Speaking the day before yesterday on the occasion of the Algerian Investment and Export Forum “Algeria Expo-Invest”, organized at the Palais des Expositions in Algiers, Ahmed Berrichi, Director of Studies in charge of the one-stop shop for major projects and foreign projects at the Algerian National Agency for the Promotion of Investment (AAPI), stressed “the importance of the advantages provided for by the new investment law, including the validity of at least 10 years, as well as the abolition of Rule 49/51, except for certain strategic sectors”.


Schneider Electric re-establishes and targets the African market : The multinational company has announced its big return to Algeria

Scion Industrial Engineering

Schneider Electric is making a comeback in Algeria, a reappearance and a geo-economic and strategic redeployment both announced the day before yesterday and during a press briefing held on the side-lines of the 54th Algiers International Fair (FIA 2023), through which Director General of Schneider Electric Group, Samuel Philippe, informed the Group’s main objectives on its recovery of the largest country in Africa and the Arab world. The French multinational, Schneider Electric, wants to win back Algeria and become a digital partner and a solid supplier of household appliances and professional equipment, through its big return to Algeria.

The representative of the multinational Schneider Electric stated that the objective of his Group is to “be present on the Algerian market, to introduce new household appliances and high-end professional equipment with well-designed prices for the Algerian market but also to integrate the labour rate in Algeria and also to introduce a new training system, to export products made in Algeria to the African market, to bring our know-how through our support, and to become a major industrial and long-term partner for Algeria, all this with our Algerian partner of Sacomi”, stated the DG of Schneider Electric, Samuel Philippe.