Vibrant Business Opportunities in Algeria Oil Production and Other Sectors of Economy
Algeria is an African nation located in northern part of continent and is in close proximity with southern Europe. This position has allowed Algeria to grow and develop fast as compared to other nations in Africa. Its geo location has been brilliantly complemented by its hydrocarbon reserves and Algeria is counted among top ten producers of petroleum and natural gas in the world. Algeria oil production is expected to rise further as the new discoveries are happening in a continuous manner. Apart from petroleum, the nation also has a vibrant and diversified economic spectrum that includes sectors of industry and services of high demand in domestic and global market. This allows fine prospects and business opportunities in Algeria.
Some of the salient sectors of Algerian economy that attracts investments and talent include the following –
The hydrocarbons sector – this is the leading and traditional segment of Algerian economy. Revised hydrocarbon policy and law was enacted in 2013 and this is aimed at attracting foreign investments also towards exploration and development of new hydrocarbon reserves of the country. Algeria has discovered world’s third largest shale gas reserves and these are to be targeted through increased and upgraded infrastructures. This, in turn, creates business opportunities for petro engineering firms and allied sectors of recovery & refining. The existing Algeria oil production is also expected to increase and needs tech support.
ICT–Algeria is witnessing ICT expansion and allied demand development for the technology support cum services. The government departments are also undergoing modernization and facilitating foreign investment in Algeria towards the ICT initiatives and programs.
Healthcare–the demand for healthcare equipments and disposals is strong here and presents an attractive market for the firms in the sector. The EXIM orientation is also strong.
Infrastructure development projects–Algeria is engaged in swift infrastructure development projects of entire diversity. This creates opportunities of realty sector players and engineering firms apart from suppliers.