Business

Vietnam, Algeria strengthen investment cooperation

Algeria is willing to give priorities and create favourable conditions for Vietnamese businesses to invest effectively in Algeria, according to the country’s Minister of Industry and Mining Abdessalem Bouchouareb.
Algeria is willing to give priorities and create favourable conditionsfor Vietnamese businesses to invest effectively in Algeria,according to the country’s Minister of Industry and Mining AbdessalemBouchouareb.

Bouchouareb made the statement while meetingwith Vietnamese Minister of Planning and Investment Bui Quang Vinh inAlgiers on June 1.

The two sides agreed to focus oninvestment cooperation in the fields of garments, footwear,telecommunications, and fertiliser, as Vietnam has strong potentialand good experience while Algeria also wants to attract investmentin these fields.

Bilateral trade turnover betweenVietnam and Algeria reached a record 370 million USD in 2014, up30 percent against 2013. Most of the trade value came from Vietnam ’sexports, including 135 million USD worth of coffee, 95 million USDworth of phones and parts and 28 million USD worth of rice. Algerianexports to Vietnam stood at only 800,000 USD.-VNA
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