Oman, Algeria explore means of boosting economic and investment ties

Times of Oman

6 days ago

Algiers — Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, met today with several Algerian ministers and senior officials to discuss means of enhancing economic, trade and investment cooperation between the Sultanate of Oman and the People's Democratic Republic of Algeria.
The meetings took place on the sidelines of Oman's participation as the guest of honor at the Algiers International Fair.
Al Yousef held separate discussions with Saïd Grib, Algeria's Minister of Industry, Kamel Rezig, Minister of Foreign Trade and Export Promotion, Tayeb Zitouni, Minister of Domestic Trade and Market Regulation and Omar Rekkache, Director General of the Algerian Investment Promotion Agency.
The meetings focused on expanding cooperation and partnerships in industry, trade and investment by activating existing agreements and memoranda of understanding between the two countries. Discussions also covered means of facilitating joint projects, increasing trade volumes, and boosting bilateral investments.
Key investment opportunities in manufacturing, food processing, and real estate sectors were explored, along with incentives and facilities offered to investors in both countries.
Al Yousef emphasized that these meetings reflect the joint communique issued during the historic state visit of His Majesty Sultan Haitham bin Tarik to Algeria last May, which laid the foundation for a new phase of multifaceted cooperation. He affirmed both nations' commitment to strengthening industrial, commercial, and investment partnerships, noting Algeria's keen interest in creating broader opportunities for Omani business leaders and investors across economic sectors.
As part of the visit, Al Yousef conducted a field tour of the Rouiba Industrial Zone and the National Company for General Industries, which specializes in energy and petroleum equipment, as well as companies in dairy and sugar production.
The Omani delegation comprised Saif Nasser Al Badai, Oman's Ambassador to Algeria, Faisal Abdullah Al Rowas, Chairman of Oman Chamber of Commerce and Industry, Eng. Dawood Salim Al Haddabi, CEO of Madayn (Public Establishment for Industrial Estates), representatives from government and private sectors, as well as business leaders.