ALGERIA: NO NEED FOR CAPITAL BUT FOR KNOW-HOW, PM SAYS   Leave a comment

Algeria is not in need of foreign capital, but of know-how. This is according to the Prime Minister, Ahmed Ouyahia, who has been presenting the government’s political plan to Parliament.

The North African country ”does not currently need foreign capital,” he said, ”but is severely lacking know-how and modern technology for management and partners”.
Algeria ”offers many advantages for those who are prepared to follow the country through its development,” he added, saying that public spending for investing has totalled over 280 billion dollars in five years.
Referring to the regulations that force foreign companies to have an Algerian partner owning 51%, and to sustain the modernisation of a local business, the Prime Minister explained that the move had been made to ”exploit national quality”. (ANSAmed).

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Posted December 31, 2010 by newworldconsulting in Uncategorized

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