A helicopter making facility will be established in Ain Arnat in Sétif Province in north-eastern Algeria. An industrial and trade partnership memorandum of understanding was signed recently in Algiers by Algeria’s ministry of national defense and the Italian group Leonardo-Finmeccanica (SPA-Italy), Algeria Press Service reported.
Re-boosting the national industry
According to a statement, issued by Algeria’s defence ministry, the memorandum “is part of the implementation of the programme of the economic relaunch, initiated by the president of the republic, supreme chief of the armed forces and the minister of national defence, and it aims at re-boosting the national industry”.
The parties to this agreement “agreed this year to create a joint Algerian-Italian company destined to the manufacturing of light and medium helicopters in the industrial site of Ain Arnat.”
“From the first years and following the construction of plants, the primary objective of this company is to manufacture three types of light and medium helicopters for various use including the transport of personnel and cargo, medical evacuation, surveillance and control,” the communique said.
Sources said that from its launch, this company would benefit from a local and international distribution network and an after-sales service.
US investors invited
In Washington, meanwhile, Algerian ambassador Madjid Bouguerra said that Algeria’s doors are open to American companies, which should seize the economic opportunities offered by the country, Algeria Press Service reported.
“What we ask from the United States is to ensure that the American business community and American companies have their share of opportunities offered by Algeria,” the ambassador said in an interview.
Over the past years, the two countries put in place several mechanisms to strengthen their bilateral relations by establishing a strategic and military dialogue and by creating a business forum.
However, their trade volume dropped from US$24 billion in 2012 to US$7 billion in 2015 because of the significant decline in Algerian oil and gas exports to the United States, Bouguerra said.
“On the economic level, we had much stronger relations when the United States imported oil and gas from Algeria. Unfortunately, it is no longer the case since last year,” he added.
Like the other countries rich in natural resources, Algeria wants to create an economy to prepare for the post-oil period, Bouguerra added.
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