Algerian Radio
The Algerian Investment Promotion Agency (AAPI) received, this Wednesday, a delegation of businessmen from Bosnia and Herzegovina who are paying a working visit to Algeria to discuss opportunities to materialize investment projects in the industrial and energy fields, according to a statement by the Agency.
The Director General of the Algerian Investment Promotion Agency, Omar Rekkache, affirmed on the occasion the Agency's readiness to accompany Bosnian investors in various stages of materializing their projects. He highlighted the range of tax and para-fiscal advantages and incentives, in addition to privileges related to economic land offered by the legal framework regulating investment in Algeria.
He also reiterated the Agency's commitment to providing all necessary facilities and accompaniment to ensure the materialization of successful investment projects that contribute to supporting economic development and strengthening international industrial partnerships, according to the statement.
The delegation of businessmen includes representatives of "Energoinvest," a leader in energy engineering and heavy electrical industries, led by its CEO, Mirza Ustamujic, alongside representatives of "Hifa Oil," led by its CEO, Izudin Ahmetlić.
During the meeting, "Energoinvest" reviewed its desire to materialize an industrial investment in Algeria in the field of producing energy equipment systems, particularly high-voltage circuit breakers, electrical transformers, and their components. The company expressed its readiness to establish a partnership with an Algerian operator according to the latest technologies while ensuring the transfer of expertise and technical knowledge accompanying the project, according to the statement.
This orientation falls within the company's strategy aimed at expanding its international presence; after entering several European markets, it seeks to enter the African market through the gateway of Algeria, in line with the growing dynamics witnessed by the energy sector in the country.
"Hifa Oil," the main distributor of oil products in Bosnia and Herzegovina, also clarified that its visit falls within the framework of exploring investment opportunities in the Algerian market and studying the possibility of launching a project that aligns with Algeria's needs in the field of oil products, noting a scheduled meeting with Sonatrach to discuss prospects for cooperation and partnership.
These discussions fall within a strategic orientation aimed at attracting investments based on technology transfer and enhancing local industrial integration. This allows for the development of value chains in the industrial and energy sectors, raising local content rates, and valorizing national capabilities in engineering and electrical industries, as well as creating quality job opportunities and supporting Algeria's positioning as an industrial and energy hub at the regional level, according to the same source.
