UK Ambassador to Algeria Mr. Andrew Henderson to El Khabar forum

UK Ambassador to Algeria Mr. Andrew Henderson to El Khabar forum

We are working to attract more British companies to engage in investment projects in Algeria

El Khabar, 24 june 2008

The Ambassador of the United Kingdom to Algeria, Andrew Henderson says in this interview with El Khabar that the Algerian market requires more clarity, pointing out that there are significant efforts targeting changing the negative vision stuck to Algeria in the eyes of investors.

El Khabar: there have been recurrent visits to Algeria from British businessmen and company’s representatives, are there any barriers facing the British investments in Algeria, and how the British companies conceive the idea of investing in Algeria?
Mr. A.H: I am working personally, altogether with the embassy’s trade and investments service, to attract new British companies to invest in the Algerian market, while making them aware of the occasions offered by this potential market. It is true that the existing challenges should be faced, and especially the bad image some investors have gotten about Algeria. We should work together to convince the investors that the Algerian market is open for all foreign investments, because such investors are likely to do business in other sectors, but not only focusing on the hydrocarbons sector.

El Khabar: how do you assess advantages and the drawbacks of the Algerian investment market?
Mr. A.H: the Algerian investment market is promising, and offers many investment opportunities to the British companies, and it is not different to the other markets, but needs to be clarified in terms of the license to be applied for, and the investment amount. The stepping up of the process of the registering of exportable products is likely to attract some British pharmaceutical companies.

El Khabar: British Petroleum is an example of a successful investment; will the British companies engage in non-hydrocarbons investment projects?
Mr. A.H :41 companies have taken part in the international fair held recently in Algiers, as you have noticed, all these companies are not operating in the hydrocarbons sector, and this demonstrates undoubtedly that the British investments are tending to other sectors as the consumption products, the English learning, training, and the financial services. But the British companies have been disappointed because of the 3-days delay made by the organizers.

El Khabar: HSBC Bank has decided opening a branch In Algeria, but the license he applied for delayed; will this issue discourage the other British banks?
Mr. A.H : bureaucracy was the a barrier curbing the investment in Algeria, however the British companies recognize the business opportunities, and they will seize them, in this regard, the visit of the Mayor of London, has boosted the financial cooperation, and paved the way to the establishment of HSBC bank in Algeria.

El Khabar: what about the case of Khelifa?
Mr. A.H : the Khlifa case is now before the hands of Justice, only the court and the Judge are empowered of making a decision.

 

24-06-2008
By H.S/ Translation Section