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UAE to invest $50bn in Algeria

by Sara Hamdan on Wednesday, 25 June 2008
ALGERIA FOCUS: The UAE’s investments in Algeria will soar to $50 billion over the next two years. (Getty Images)
ALGERIA FOCUS: The UAE’s investments in Algeria will soar to $50 billion over the next two years. (Getty Images)

The UAE’s investments in Algeria will soar to $50 billion over the next two years, with an aim to increase joint ventures in industry, services, agriculture and energy sectors.

UAE committee members, including Minister of Economy Sultan bin Saeed Al Mansouri, met with Algerian officials this week to discuss an investment strategy for the next few years, state news agency WAM reported on Wednesday, citing UAE government officials.

Al Mansouri was speaking at the sixth Annual UAE-Algerian Joint Commission meeting held from June 24 to June 25 in Algiers, Algeria.

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