A virtual meeting this Tuesday between Algeria’s National Agency for Investment Development (AAPI) and Invest Oman zeroed in on fast-tracking investment opportunities under review. Discussions spanned high-priority sectors like agriculture and fisheries, food processing, pharmaceuticals, manufacturing, maritime transport, and linked supply chains. To that end, the parties agreed to form a joint technical team to draft a detailed action plan.
AAPI Director General Omar Rekkache and Invest Oman Executive Director Nasser Al Kindi co-chaired the session, attended by Algeria’s ambassador to Muscat, Mohamed Ali Boughazi, and officials from both sides, per an AAPI statement.
Beyond project updates, the talks reviewed each agency’s roles and functions, emphasizing best-practice exchanges. Key focuses included one-stop shops, digitized investment processes, and outreach strategies for business prospects.
Invest Oman serves as a streamlined hub for investor support in the Sultanate, providing end-to-end guidance and online tools to streamline project execution.
The session concluded with plans for reciprocal site visits and workshops to deepen expertise sharing on attracting and promoting investments.
Algeria-Oman Business Forum on Horizon
The partners also aligned on coordinating an Algeria-Oman business forum, drawing government bodies, business associations, and private firms to spotlight opportunities and catalyze joint ventures.
This builds on a 2024 memorandum of understanding between AAPI and Oman’s Ministry of Commerce, Industry, and Investment Promotion.
The engagement reflects surging economic momentum between Algeria and Oman, fueled by high-level exchanges—including visits by President Abdelmadjid Tebboune and Sultan Haitham bin Tariq. These have injected fresh energy into bilateral cooperation, paving ways for investment alliances like a $300 million Oman-Algeria investment fund.
Both nations prioritize expanded economic collaboration, especially in hydrocarbons via the proven Algeria-Oman Fertilizers Company (AOA) with Sonatrach involvement. Mining ventures target iron, phosphates, and zinc, while automotive projects include bus and utility vehicle assembly with Karwa Motors. Pharmaceuticals feature rapid diagnostic kit production, alongside Saharan agriculture and food industry investments.