China to Invest $36 Billion in Algeria’s Economy

Algerian President Abdelmadjid Tebboune announced that China will invest $36 billion in various areas of Algeria, including industry, modern technology, the knowledge economy, transportation, and agriculture.

Boosting Economic Relations between Algeria and China

President Tebbun said on Thursday that the projects and agreements concluded with the Chinese side are huge and bring mutual benefits to the two countries.

President Tebbun also reaffirmed that this visit opened all horizons for investment between the two friendly countries, and we will strive to bring economic relations with China to the level of good historical political relations.

President Tebbun also confirmed that Algeria has good relations with China, Turkey, Russia, and Qatar, as well as with friendly countries in Europe such as Italy and Portugal.

Establishment of Algerian-Chinese Business Council

In a related context, Kamal Mawla, head of the Algiers Council for Economic Revival, announced from Beijing the establishment of an Algerian-Chinese business council with the aim of “strengthening ties between various economic entities” in the two countries.

Source: Al-Shoruk