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December 15, 2024 | 8 months ago

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Construction: An Algerian-Vietnamese joint venture

Hanoi's General Construction Company and its Algerian partner, Copresud, an oil services company, have signed a preliminary agreement to set up a joint venture.

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This new entity will operate in the construction sector and will be responsible for responding to invitations to tender and carrying out civil engineering works in Algeria.

To this end, a Vietnamese business delegation, including the Hanoi-based General Construction Company and human resources specialist VINA-MEC HR, visited Algeria to explore new opportunities for cooperation. In Algeria, the Vietnamese delegation met with four key players in the construction sector and three companies specializing in labour exports.

During their stay, they also explored import opportunities for agri-food products such as green tea, olive oil, dates, chocolate, and cakes, meeting other potential partners.

Despite considerable geographical distances, relations between Vietnam and Algeria are solid. However, the potential for economic cooperation remains largely unexploited, as evidenced by the still modest trade of around 300 million USD in 2023. The creation of joint ventures will help boost these exchanges.

December 15, 2024 | algeria-logo

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