Algeria represents a "huge" market for UK investors (HSBC)
Algeria represents a "huge" market for UK investors, this potential is unfortunately not well known in the UK, the CEO of HSBC Algeria, Rachid Sekak said on Tuesday at the Middle East Association Conference in London.
Source : https://www.marocafrik.com/english/Algeria-represe...
Presenting the experience of HSBC in Algeria as part of the Middle East Association meeting on the business opportunities in North Africa, Mr. Sekak said he was "absolutely positive" in light of progress made since HBSC's investment of $ 150 million in 2008.
"Our experience in Algeria is positive and we can look ahead with great optimism," he said before an audience of businessmen and experts invited by the Middle East Association (MEA).
Algeria has by far, the "most important" potential in North Africa and enjoys an "excellent financial health," said Mr. Sekak who highlighted the investment program provided under the plan five-year, and its degree of openness in the financial sector, which expressed the need to diversify the economy. The representative of HSBC said that "all this created business opportunities for UK investors."
"We currently have three branches in Algeria and employ 150 people. Two branches at Algiers and in Oran for an agency, for which we have just received the approval of the Central Bank," said Mr. Sekak.
"Investment in Algeria is still buoyant in the long term, and with regard to our company we would do it again without hesitation ' he concluded.
Also at the Middle East Association Conference, the UK Secretary of State for Energy and Climate Change, Lord Marland. said that the relationship between the UK and Algeria was "overwhelmingly positive" in recent years, told the APS.
"We are putting in place a solid foundation for promoting remarkable bilateral relations in all directions and we welcome the willingness of both parties to promote such exchanges," he said .
Such meetings as the Middle East Association Conference are likely to promote economic exchanges, he told APS.
"Our experience in Algeria is positive and we can look ahead with great optimism," he said before an audience of businessmen and experts invited by the Middle East Association (MEA).
Algeria has by far, the "most important" potential in North Africa and enjoys an "excellent financial health," said Mr. Sekak who highlighted the investment program provided under the plan five-year, and its degree of openness in the financial sector, which expressed the need to diversify the economy. The representative of HSBC said that "all this created business opportunities for UK investors."
"We currently have three branches in Algeria and employ 150 people. Two branches at Algiers and in Oran for an agency, for which we have just received the approval of the Central Bank," said Mr. Sekak.
"Investment in Algeria is still buoyant in the long term, and with regard to our company we would do it again without hesitation ' he concluded.
Also at the Middle East Association Conference, the UK Secretary of State for Energy and Climate Change, Lord Marland. said that the relationship between the UK and Algeria was "overwhelmingly positive" in recent years, told the APS.
"We are putting in place a solid foundation for promoting remarkable bilateral relations in all directions and we welcome the willingness of both parties to promote such exchanges," he said .
Such meetings as the Middle East Association Conference are likely to promote economic exchanges, he told APS.
Source : https://www.marocafrik.com/english/Algeria-represe...