Algeria, Slovakia and Austria deepen economic relations – Vindobona.org

The occasion was an official visit by the Algerian Minister of Foreign Affairs, His Excellency Ahmad Attaf, who used the event to strengthen bilateral business relations between Algeria and Austria and explore investment opportunities. Participants included prominent representatives of Austrian companies, dignitaries and members of the Algerian delegation.

At the beginning of the event, Foreign Minister Ahmad Attaf gave a detailed presentation on the current economic situation and investment climate in Algeria. He highlighted recent economic reforms and initiatives by the Algerian government aimed at making the country more attractive to foreign investors. In particular, he highlighted efforts to reduce bureaucracy and improve the legal framework to encourage foreign investment.

Attaf also outlined a number of sectors that currently offer promising investment opportunities, including renewable energy, particularly green hydrogen, as well as infrastructure, agriculture and tourism. The Algerian government has launched special programs to promote these sectors and offer attractive investment conditions to foreign companies. These efforts are reflected in a series of new laws aimed at simplifying market access and business operations in Algeria.

The importance of Austrian-Algerian relations

In his speech, Dr. Werner Fasslabend, President of the AACC, emphasized the historical and economic importance of the relationship between Austria and Algeria. The two countries have maintained close economic and diplomatic relations for decades, which have intensified in recent years. Fasslabend particularly highlighted the current cooperation in the field of green hydrogen, which opens a new chapter in the partnership between the two countries. This cooperation can serve as a model for future joint projects in other sectors.

Question and Answer Session: Direct Dialogue with the Minister

The highlight of the meeting was the Q&A session, during which the Austrian companies present had the opportunity to engage in a direct dialogue with Minister Attaf. During this interactive session, various topics were discussed, including the legal framework for foreign investors, investment guarantees and opportunities for joint ventures. Attaf answered the questions in detail and used the opportunity to highlight specific investment incentives and support from the Algerian government.

Participants were particularly interested in Algeria’s plans to promote infrastructure development, including improving the transport network and expanding energy supplies. These projects offer numerous business opportunities for Austrian companies, especially in the construction, engineering and energy sectors.

AACC Role and Perspectives

The Austro-Arab Chamber of Commerce played a key role in organizing and implementing the event. Secretary General Dipl.-Ing. Mouddar Khouja emphasized the importance of the Chamber as a platform for dialogue and cooperation between Austrian and Arab companies. The AACC has set itself the goal of further expanding and deepening economic relations between Austria and the Arab world, including Algeria. By organizing such events, the Chamber creates important opportunities for networking and supports companies in opening new markets.

Positive look

The working meeting at the Imperial Hotel Vienna was a great success and an important step towards strengthening the economic relations between Algeria and Austria. It was a valuable platform for exchanging information and establishing new business relations. The Algerian government showed its determination to continue the process of economic reforms and to make the country even more attractive to foreign investors.

The Austro-Arab Chamber of Commerce and the Algerian Embassy in Vienna expressed their satisfaction with the meeting and expressed their willingness to continue to cooperate closely in the future. Both sides see great potential for deepening bilateral relations, especially in the areas of energy, infrastructure and technology. Given the positive response and the numerous new business opportunities, the participants can look to the future with optimism. The event clearly showed that Algeria is a promising partner for Austrian companies and that economic cooperation between the two countries can bring many exciting developments.

Embassy of Algeria in Vienna

AACC