Sharing borders with six nations and the Mediterranean Sea, Algeria is the largest country in Africa. Algiers, the country’s capital, is Algeria’s economic hub and largest city ‐ a traditional gateway between Africa and Europe.
Oil and gas make up around 97% of Algeria’s exports. Algeria’s historic dependency on this sector has created problems, and the country’s economic fortunes have fluctuated with the health of the oil market. In recent years, however, Algeria has shown encouraging signs of modernisation, and the government has undertaken steps to diversify the economy.
Traditionally inward‐looking and protectionist, Algeria has lately adopted a more positive approach to international trade. In particular, the government is keen to attract foreign investment in the Automotive, renewable energy, construction and heavy industry sectors. A number of generous schemes are available for savvy entrepreneurs ‐ investors in certain sectors can claim up to ten years exemption, for example.
As the country begins to look outward, Algeria begun seeking out new trading partners. China is now the country’s foremost foreign investor, and Saudi Arabia and the UAE have signed important investment agreements. Algeria has begun negotiations to enter the World Trade Organisation.
Algeria boasts a fascinating history, beautiful beaches and a superb climate – the country has great potential as a tourist destination. Investors will find a stable, modernising economy complete with a young and well‐qualified workforce.
HLB Algeria provides tax advice, business creation, merger & consolidation services and is based in Algiers, the capital city of Algeria.
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