The picturesque streets of Algiers.
main agricultural crops are wheat, oats, citrus fruit, wine grapes, olives, figs, tobacco, dates and barley. Wine production is also a priority for the Ministry of Agriculture, as it accounts for 25 per cent of agricultural exports. The fish industry is also being developed and modernised, and the target is to double its output by 2025. The construction, real estate and tourism sectors have also
Oil well during the sandstorm in Algeria.
Australia & Algeria Australia imports crude petroleum from Algeria, while the main exports to Algeria are milk and cream. More than half of the milk is imported in Algeria and the Government subsidises milk purchases and controls prices. The Government is also taking measures to stimulate
agriculture growth in Algeria and the aim is to make the country self-sufficient and reduce agricultural imports. The
been recently developed. A five-year plan that ended in 2009 made the construction sector meet the country’s building needs. In 2009, the largest shopping mall has been opened in the country. In 2008, a National Tourism Development Plan was launched, with plans to attract 2.5m tourists by 2015. There are plans to develop tourism villages and marinas around the seaside, promote tourism in the Sahara area and also the thermal and health tourism, as Algeria has over 200 geothermal springs.
Smart economic measures Algeria had reduced its external debt to three per cent of GDP prior to the Global Financial Crisis, which put the country in a better fiscal position to finance infrastructure. Now Algeria is one of the strongest economies in the region and the Government has put in place many incentives to attract FDI. In 2009 Algeria amended the financial law stipulating that all foreign direct investment projects must have an Algerian partner with a 51 per cent share of the capital. The Algerian cabinet also recently approved another five-year investment plan aiming to diversify the economy, with projects in housing, infrastructure, transport, health and education. In a recent business briefing in London on new
Mosque at Algiers, capital city of Algeria.
opportunities in Algeria held by the Arab-British Chamber of Commerce last April, His Excellency Abdelhamid Temmar, the Algerian Minister for Industry and Investment Promotion, said, “Algeria was now a country with ambitions to be a key player in the global economy – and it has the resources to achieve this.” p
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