Algeria is supporting production investments and planning industrial zones to diversify and increase its oil-dependent revenues. In this context, Algerian Senator and Presidential Advisor Mohamed Hoxhaj visited OSTIM.
Hoca, recalling that President Recep Tayyip Erdoğan set a target of increasing the $3.5 billion trade volume between Turkey and Algeria to $10 billion during his visit to the country, stated, “Turkey is one of Algeria’s largest business partners. There are 850 Turkish companies in our country. We are following developed countries, especially Turkey.”
Algeria, with a population of 40 million, 70% of whom are young people, is working to strengthen its economy through five-year economic programs. Under its first five-year plan, the country has allocated $240 billion for infrastructure investments, preparing the ground for strong economic development. Algeria exports $35 billion worth of gas and oil, while its consumption is close to $70 billion.
“We have to make industrial investments”
Stating that they have started to form partnerships with all the countries they know, Muhammed Hoca said, “Incentives are being given to the private sector. We have to make serious investments in industry.”
Speaking about the opportunities in his country, the Algerian statesman explained that 38 industrial zones were planned throughout the country. Referring to OSTİM's experience in small industrial zones, Hoca said, "Instead of cooperating with Europe, we should work with Turkey. We need to benefit from OSTİM's experience. We need your expertise."
OSTİM Chairman Orhan Aydın emphasized that Algeria is also important for Turkey and that they are making efforts to develop relations. Chairman Aydın stated, “OSTİM has experience in establishing small industrial zones. We have provided consultancy services in Sudan, Nigeria, Tunisia, and many other countries in this regard. We are ready to share our experience with Algeria.”
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