50 billion USD Arab investments pending on bureaucratic hinders
El Khabar, 31 August 2008
There are 50 billion USD Arab investment commitments in Algeria which are still pending on significant bureaucratic hinders, despite being approved at the highest levels. The great interest which surrounded the announcement of the Arab investment projects in Algeria, and the State guarantees allocated to Arab investors seem not enough to achieve them. Arab investors say they ignore who is the real decision maker in the economic field in Algeria. They wonder why their projects are still not materialized, in spite of their significant benefits. It is worth to mention that the Government has mentioned two years ago that Arab investments estimated at 50 billions USD, including the significant projects announced by the Emirates giant Eemar, as well as other tourism and industrial projects which are lagging behind. In this context, a well informed source told El Khabar that representatives of the Emirates ports management company Dubai Ports have paid a work visit to Algiers last week. Dubai Ports’ representatives targeted boosting discussions about the project of the management of containers’ terminal in Algiers port, which still lagging behind despite guarantees and advantages offered by the UEA Company.
31-08-2008 By H.S/Translation by A. Ait El Hara