Algeria open for business Investors from Saudi Arabia, Kuwait and Egypt are stealing a march on most of the rest of the world, providing between them almost half of Algeria’s entire foreign direct investment (FDI) in 2005.The achievements—and profits—racked up by these three countries are significant. The Egyptian conglomerate Orascom in telecommunications (Djezzy), construction and building materials (Orascom Construction), as well as their subsidiary Algerian Cement Company for cement, have foreign investors eyeing the country’s potential. The other notable foreign success stories include Kuwaiti firm Watanya, which owns local telecommunications player Nedjma, and Saudi Arabian company Sidar, which is involved in construction and real estate.To spread the message that Algeria is open for business—and specifically geared to Arab states—Algeria will hold the 10th Congress of the Union of Arab Businessmen in Algiers on November 18-19. One of the other main objectives of this congress, which is estimated to attract over
