Muscat: Oman-Algeria Economic Ties Strengthen with Strategic Investments, Pharma, Shipping in Focus

Muscat: Economic and investment relations between Oman and Algeria are experiencing robust growth, particularly in the investment sector, following high-level visits between leaders of both nations. Oman’s Ambassador to Algeria, H.E. Saif bin Nasser Al-Badaei, confirmed that the renewed momentum is a result of the shared vision of His Majesty Sultan Haitham bin Tariq Al Said and Algerian President Abdelmadjid Tebboune.

A key catalyst in this partnership is the Omani-Algerian Joint Investment Fund, which is currently engaged in negotiations for several large-scale strategic initiatives. Algeria has shown significant interest in Oman’s investment environment, with many inquiries now being handled through the “Invest in Oman” platform.

Ambassador Al-Badaei also noted that a number of Algerian business delegations have already visited Oman, with more expected soon—particularly from the pharmaceutical sector—as both sides explore long-term strategic collaborations.

Oman Positioned as a Premier Investment Destination

Promoting Oman as a stable, investor-friendly destination remains a core focus for the Omani Embassy in Algeria. Officials are engaging directly with Algeria’s business community to highlight Oman’s many advantages for foreign investors—including full foreign ownership of projects without the need for a local partner.

Mohammed bin Ali Al Lawati, Acting Director of the Investment Promotion Department at Oman’s Ministry of Commerce, Industry and Investment Promotion, underlined several incentives: up to 10 years of income tax exemptions in key sectors like manufacturing, tourism, agriculture, and technology, along with customs exemptions on imported raw materials and machinery.

Algeria Targets $10 Billion in Omani Investments

Algeria, on its part, is seeking over $10 billion in Omani investment over the medium term. According to Omar Rekash, Director General of the Algerian Investment Promotion Agency, numerous Omani companies have already submitted investment proposals.

Ongoing talks include the establishment of a direct shipping line between Oman and Algeria in partnership with Asyad Group, and a marine fishing project involving Mauritania as a third partner. Additional ventures under discussion include a Hyundai automobile assembly project and a large-scale aluminum smelter.

Pharmaceuticals, logistics, and strategic industrial developments top the agenda as both countries deepen bilateral cooperation. Algeria, Rekash added, has introduced comprehensive legislative reforms to enhance investor confidence, offering protections and guarantees for foreign capital.

Since the reforms were enacted, Algeria has registered more than 15,600 investment projects—including 271 with foreign participation—underscoring the country’s renewed appeal as a regional investment hub.