[ecr]

"I would like to invite you to seize the countless and immense business opportunities offered by Algeria and I encourage you to be the driving force of the promising economic partnership between our two friendly countries," said Attaf during a meeting with Austrian business leaders, on the sidelines of his visit to Austria, tasked by the President of the Republic, Abdelmadjid Tebboune.

 

"I can assure you once again that there is no better time to do so than now, as Algeria is finally releasing all its potential as a credible and reliable partner in the economic world," he maintained during the meeting, which was attended by representatives of the Austrian-Arab Chamber of Commerce, the Federal Economic Chamber, and the Federation of Austrian Industries.

Attaf defined five "priority" areas that could, he said, be of particular interest to Austrian companies for investing in Algeria.

The first area concerns the development of new renewable energies, including hydrogen, the minister said, welcoming the "keen interest shown by a large Austrian group in the SouthH2 Corridor project", jointly initiated by Algeria, Austria, Germany and Italy.

The second area is that of mines, particularly through the three major structuring projects launched by Algeria, namely the integrated phosphate megaproject in Tebessa, the iron mine in Tindouf and the zinc mine in Bejaia.

The third area is the expansion and modernization of the railway sector, added Attaf, calling on the Austrian companies to seize the numerous business opportunities arising from projects in this sector, for which the Algerian government has recently allocated a budget of about USD15 billion for the construction of 6000 km of railway tracks across the country.

Water production is the fourth priority sector that could attract Austrian investors, the minister maintained, recalling that Algeria has adopted an ambitious water desalination program and implemented an important program for the construction of numerous wastewater treatment plants."

 

The fifth and final area cited by the minister is the development of the agricultural sector, which presents "an untapped opportunity for investors", particularly in the South of the country where the objective is to develop 3 million hectares for large-scale investments, according to Attaf.

The minister, however, emphasized that there are also other promising areas for investment in Algeria, such as start-ups, the pharmaceutical industry, communication and information technologies, or tourism.  

[/ecr]