Algeria seeks Bangladeshi investment in manufacturing sector: envoy

Algeria has sought greater Bangladeshi investment in its manufacturing sector, offering government support to businesses as the two countries look to expand trade and investment ties, Algerian Ambassador to Bangladesh Abdelouahab Saidani said on Friday.

He made the remarks during a visit to the industrial facilities of Max Group, one of Bangladesh’s leading conglomerates.

Tap here to add The Daily Star as a trusted source

“I see immense potential for expanding business and investment between Bangladesh and Algeria,” Abdelouahab said.

The visit focused on strengthening bilateral trade, investment and industrial cooperation.

Accompanied by senior officials from the Algerian Embassy, Abdelouahab held discussions with Max Group Chairman Ghulam Mohammed Alomgir.

Abdelouahab highlighted Algeria’s abundant reserves of key industrial raw materials, including steel, natural gas and petroleum, which could be imported competitively by Bangladeshi industries. He also said there are significant opportunities for Bangladeshi manufacturers to export high-quality finished goods to the Algerian market.

The ambassador invited Alomgir to visit Algeria and proposed that Max Group establish a company and manufacturing plant there, assuring full government facilitation.

The support would include assistance with land, utilities and raw materials, as well as a favourable tax regime, he said.

On bilateral cooperation, Abdelouahab said 22 draft agreements have been formulated between Bangladesh and Algeria, with most in the final stages of signing.

He also emphasised the role of the Algeria-Bangladesh Business Forum, comprising business leaders from both countries, in promoting greater trade and investment cooperation.

During the visit, Abdelouahab toured AFA Steel Industries Ltd, which produces springs for various vehicles, and later visited Max Group’s stainless steel pipe manufacturing unit, crockery production line and construction materials division.

He showed particular interest in Maxcrete Limited’s eco-friendly AAC block manufacturing facility.

Alomgir briefed the ambassador on Max Group’s evolution, saying its initial focus four decades ago was import substitution to save foreign currency.

He said the group now plans to shift decisively towards exports, with future investments planned in semiconductors and solar energy, particularly rooftop solar solutions.