Global Arab Network | Invest in Med workshop shows importance of Algerian expatriates investment

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Invest in Med workshop shows importance of Algerian expatriates investment

Global Arab Network - - Mohamed Tamer

Thursday, 19 November 2009 21:01

The EU-funded project Invest in Med has held a workshop that showed the importance of investments carried out by Algerian expatriates in the country’s economy.

A press release said the meeting, held in Algiers, gathered 20 heads of small and medium enterprises members of the Algerian diaspora in France and high representatives of the government and Algerian private sector who demonstrated a strong will of dialogue and support for the investment plans proposed.

The workshop identified priority topics for the development of Foreign Direct Investments (FDI) in Algeria with vocational training at the top position followed by fishing, agro-industry, building and construction, environment, tourism, and ICT. It also allowed the emergence of several short term projects. Thematic workshops will also be proposed to the government via the Minister for the National community abroad to follow up actions on Foreign Direct Investments by expatriates.

Invest in Med is a Euro-Mediterranean Network of organizations, funded by the EU with a budget of €9 million, committed to investment promotion and trade facilitation, strengthening SME collaboration and exchange of best-practices. It aims to increase the abilities and efficiency of Mediterranean Investment Promotion Agencies (IPAs), thus enabling more foreign direct investment in the Mediterranean Partner Countries. This multi-country platform supports the economic development of the Mediterranean and reinforces cooperation between European and Mediterranean IPAs.

The Invest in Med programme aims at developing sustainable trade relationships, investments and enterprise partnerships between the two rims of the Mediterranean. Funded at 75% by the European Union over the 2008-2011 period, it is implemented by the MedAlliance consortium, led by ANIMA.

MedAlliance gathers economic development organisations (ANIMA, leader of the programme), CCIs (ASCAME, EUROCHAMBRES), and business federations (BUSINESSMED). The members of these networks, as well as their special partners (UNIDO, GTZ, EPA Euroméditerranée, World Bank, etc.), gather a thousand of economic actors - mobilised through pilot initiatives centered on key Mediterranean promising niches. Each year, a hundred operations associate the 27 countries of the European Union and 9 Mediterranean partner countries: Algeria, Egypt, Israel, Jordan, Lebanon, Palestinian Authority, Syria and Tunisia.

They are divided along the following lines: Networking (BtoB events, Business Representative Organisations matchmaking, conferences); Assistance (support missions and short/long term staff exchanges); Training (workshops); Documentation (guide books, economic intelligence, reports). Other major issues addressed by the program relate to young and women entrepreneurs, Diasporas, micro-enterprises, franchising and leasing, public-private partnerships and access to financing.

Global Arab Network

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