During a recent forum, Minister of Construction Nguyen Thanh Nghị highlighted the significance of this event within the framework of the 12th session of the Vietnam-Algeria Inter-Governmental Committee. The goal was to strengthen connections and encourage investment and business cooperation between companies from both countries.
The forum provided a practical opportunity for businesses from Vietnam and Algeria to meet, exchange crucial information, and gain a deeper understanding of trade policy incentives and foreign investment attraction in both nations. It laid the foundation for research and promotion of new trade and investment projects in both Algeria and Vietnam.
Businesses from both sides will capitalize on this opportunity to establish new cooperative relationships, contributing to a new milestone in Vietnam-Algeria trade and investment cooperation, in line with the aspirations of both governments, the business community, and the people of both nations.
Algeria’s Minister of Industry and Pharmaceutical Production, Ali Aoun, shared Algeria’s economic development and investment attraction strategies. Algeria has implemented policies to stimulate national economic development within the global value chain by enhancing partner relationships, particularly in industry and knowledge transfer.
Algeria has introduced various policies for industries, mining, agricultural product processing, tourism, renewable energy, housing, and basic infrastructure. Additionally, they have policies that support small and medium-sized enterprises and startups.
Furthermore, Algeria has undertaken institutional reforms, improved the business environment, and enacted new investment laws to ensure that foreign investors enjoy the same benefits and incentives as domestic enterprises. In the coming period, Algeria will prioritize sectors that offer high added value, emphasizing technology transfer and economic transformation.
During the forum, experts from both countries presented several papers outlining the business policies and mechanisms of Vietnam and Algeria. The Ministry of Industry and Trade, through the Import-Export Department, mentioned efforts to facilitate domestic and foreign business investments. Vietnam has streamlined administrative procedures, simplified investment and business conditions, and established a one-stop, interconnected mechanism for administrative procedures.
In addition, the government has issued policies to encourage foreign direct investment for export promotion, green growth, sustainable import and export, production linked to export, trade facilitation, and support for businesses in overcoming barriers.
This forum provides a platform for dialogue, fostering stronger ties between Vietnam and Algeria, and it stands as an opportunity for businesses from both countries to explore new horizons in trade and investment cooperation.
