Vietnam-Algeria Business Forum held in Hanoi

Minister of Construction Nguyen Thanh Nghi and Algerian Minister of Industry and Pharmaceutical Production Ali Aoun co-chaired the Vietnam-Algeria Business Forum in Hanoi on October 17^th with the participation of leaders of ministries, central branches, corporations and businesses. On the Algerian side, there were representatives of the Algerian Embassy in Vietnam, representatives of ministries and agencies under the Algerian Government, and Algerian corporations and businesses at the Forum.

Minister Nguyen Thanh Nghi spoke at the Forum

Speaking at the event, Minister Nghi said that the Forum, an important activity within the framework of the 12th Vietnam-Algeria Inter-Governmental Committee, is a substantive and important opportunity for both sides to exchange information and learn about each other’s trade and investment incentives, priority areas and potential projects.

 Minister Ali Aoun spoke at the Forum

Speaking at the Forum, Minister Ali Aoun said that the Algerian delegation to Vietnam with the participation of many large businesses in the agricultural sector, food, fisheries, energy, industry, construction, trade, and healthcare have desire to promote connections and investment cooperation opportunities for businesses of the two countries.

Currently, Algeria has many policies for industry, mining, agricultural processing, renewable energy, housing, basic infrastructure, and offers incentives for small- and medium-sized enterprises, and startups, he added.

Minister Ali Aoun emphasized that in the coming time, Algeria will focus on promoting technological transformation, economic innovation, building a transparent investment environment, and helping investors participate in investment. Algeria has also prepared a large land fund to develop industrial parks and priority areas for foreign investment.

Minister Ali Aoun believes that Vietnamese businesses will have many advantages when investing in Algeria, becoming mutually beneficial cooperative partners, and affirms that the Algerian Ministry of Industry and Pharmaceutical Production (Standing Committee of the Algerian branch of the Vietnam - Algeria Intergovernmental Committee) will pay attention to creating the most favorable conditions for Vietnamese businesses and partners to cooperate and invest in implementing projects in Algeria.

At the forum, the countries' experts clarified mechanisms and policies for businesses in both Vietnam and Algeria.

A representative from the Vietnamese Ministry of Industry and Trade said that in order to create favourable conditions for domestic and foreign investors, Vietnam has reformed administrative procedures and simplified investment and business conditions.

Overview the Forum

At the Forum, representatives of the Algerian Delegation highlighted the advantages of the country's natural conditions, geographical location and natural resources in attracting investment, socio-economic development as well as mechanisms and policies in encouraging international businesses including Vietnamese businesses to invest and operate in Algeria. Businesses from both sides have also actively learned and exchanged information about areas of mutual interest to sign investment cooperation in the near future.