WIRTSCHAFTSfORUM. Mali

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1 WIRTSCHAFTSfORUM NAH-- UND MITTELOST No. 4 - July I August 2017 Algeri's Vision 2035 C Contents Algeri's Vision Interview with H.E. Nor-Eddine Aoum, Ambssdor of Algeri to Germny, by Helene Rng 1 Interview with H.E. Nor-Eddine Aoum, Ambssdor of Algeri to Germny, by Helene Rng Editoril Personlities 41h Germn-Egyptin Joint Economic Commission in Berlin Algier D 1001h NUMOV Lnderforum Qtr Round Tble Qtri nd Germn foreign ministers discuss ltest developments in the Gulf region 7..,_ ntic A en } I,Jd-TI:zi ouzu t H.E. Sigmr Gbriel visits Liby Sudi nd Germn foreign ministers meet in Berlin Germn Chncellor visits Sudi Arbi nd UAE 10 Finncil nd Legl Frmework Irn 12 Irnin delegtions visit NUMOV 15 NUMOV Annul Meeting New trde nd business opportunities in Jordn 17 New Crown Prince of Sudi Arbi H.R.H. Mohmmed bin Slmn Al Sud 23 News & Projects 24 Fir News I Exchnge Rtes 27 Algeri In ti It.Ill H.M. King Abdullh II of Jordn opens the World Economic Forum on MENA 28 New port projects in the Middle Est to boost regionl economy 28 Germn-Turkish Economic Dy in Izmir 29 'Turkey fter the Referendum' 29 Business Pge 30 Business Enquiries 30 Chllenges for the Kingdom of Sudi Arbi 31 lnterreligious dilogue nd religious tolernce 31 NUMOV Services 32 Appliction form for membership 32 Introducing NUMOV member: ENGINEERING DOBERSEK GmbH 33 Bord of NUMOV 34 Imprint 34 NUM@V Ni\H- UND MITTELOST VEREIN E.V. GERMAN NEAR AND MIDDl. EAST ASSOCIATION Kronenstrfse 1, D Berlin Phone: +49 (0) Fx: +49 (0) E-mil: numov@numov.de Internet: s uritni I Mli A mbssdor Aoum, in coopertion with the World Bnk, Algeri is currently prepring study on the country's economy with its Vision nd Pln of Action Could you elborte on the plns nd strtegies comprised in this vision, the envisged projects nd their implictions for foreign investors? You certinly know tht Algeri hs recently revisited its economic model. A new economic frmework will hve to meet severl chllenges nd negotite mny constrints over the next 15 yers: chnges in its productive structure, the evolution of internl indebted- ness, externl solvency nd n energy trnsition tht will increse hydrocrbon exports nd llow Algeri to join the trin of the new world energy order. To help implement this strtegy, comprehensive study on the ntionl economy is, s you sid, being prepred in collbortion with the World Bnk. In this regrd, Algeri hs so fr received technicl support from the World Bnk to crry out the study. Another study is being developed between the two prties on grnting id to low-income groups under specil progrmme, nd let me underline tht these two studies re finnced by continued on pge 20

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3 Algeri's Vision Interview with H.E. Nor-Eddine Aoum, Ambssdor of Algeri to Germny, by Helene Rng continued from pge 1 Algeri's own funds. Coopertion between Algeri nd the World Bnk is bsed on technicl prtnership relted to the socil security system, incresing economic growth rtes nd promoting investment in Algeri. Both prties re working to expnd it to other res. In terms of structurl trnsformtion of the economy, the new growth model trgets re: non-hydrocrbon growth rte of 6.5% per nnum, between 2020 nd 2030; significnt increse in GDP per cpit income, which should be multiplied by 2.3 times; the doubling of the industril sector's contribution to GDP: 10% compred to 5.3% currently; the modernistion of the griculturl sector, with view to chieving the objectives relted to food security nd diversifiction of exports. With this in mind, investments, both locl nd foreign ones, will be encourged. Let me tell you tht we hve lredy begun this ction of sustined promotion of investments, especilly since August 2016, fter the promulgtion of the new Investment Code. The code offers lrge rnge of incentives, like lrge tx reliefs, fcilitting openness on the Algerin mrket to opertors who wnt to bring definite dded vlue to the ntionl economy. Algeri's Embssy in Berlin, in ccordnce with its missions of economic promotion of the Algerin destintion, disseminted this new Investment Code to ll its Germn prtners. We remin vilble to ensure wide dissemintion of new investment mesures in Algeri through your ssocition, which hs distinguished itself in the promotion of ArbGermn economic reltions. The continued worldwide drop in oil prices hs necessitted chnges in mny oil exporting countries' economic models in the MENA region. Wht mesures hs Algeri tken in order to meet these economic chllenges nd diversify its economy? Like the mjority of oil countries, Algeri hs been ffected by this drstic drop in oil prices. But my country succeeded in fl limiting the hrmful effects of this disruption of the interntionl oil mrket thnks to stble mcroeconomic indictors such s exchnge reserves of more thn USD 1 OObn. The first mjor mesure ws to work on reducing the trde deficit. Let me tell you tht the results re lredy here: the trde deficit declined by 55% during the first two months of This is the first decline tht hs been recorded for mny yers. The deficit even declined by 68% in Jnury 2017 lone. Reducing imports, without upsetting the principle of free trde which guides Algeri's commercil commitments with its prtners, nd encourging non-hydrocrbon exports is obviously long-term process. energy nd by extrcting from the subsoil only wht is strictly necessry for development. Another preferred trck is the stimultion of business cretion, focusing on certin criticl sectors, such s industry, griculture nd tourism, which will crete the necessry dynmic of chnge before embrking on the reforms in depth. Among these reforms re the revision of the sttute nd the composition of the Doing Business Committee, integrting not only representtives of the government nd the privte sector, but lso reserchers nd consultnts, whose presence will bring scientific rigour nd brod vision in economic development. Other res of ction re relted to the finncing of investment through the Helene Rng, CEO of NUMOV; H.E. Nor-Eddine Aoum. Ambssdor of Algeri to Germny To this end, Algeri hs drwn up rodmp which is divided into three phses: , which is devoted to the lunching of new growth policy, mrked by chnge in the shre of the vrious sectors in vlue dded towrds their trget level; , the so-clled trnsitionl phse, which will enble us to ctch up on our economic potentil; , the phse of stbilistion, or convergence, t the end of which the ntionl economy will exhust its ctch-up potentil nd the vrious vribles of the economy will converge towrds their equilibrium vlue. In ddition to the widely promoted public-privte prtnership, the new growth model is bsed on the energy trnsition trget, which will hlve the rte of growth of internl energy consumption by giving fir prices to WirtschftsForum Nh- und Mittelost 4/2017 estblishment of genuine system of investment in public fcilities, the resumption of the reform of the bnking system nd the development of cpitl mrket. My I lso quote the territorilistion of industril development through reorgnistion of the mngement of industril lnd nd its integrtion with, in prticulr, the revision of the Ntionl Agency for Intermedition nd Lnd Regultory Affirs (ANIREF) missions nd the elbortion of new progrmme of zones to support the industril development. Your Excellency, Algeri is plnning on brodly expnding its industril production with specil focus on the utomotive nd the phrm industry s well s the textile sector. Could you elborte on these plnned investment projects

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