Direct investment by Arab countries in Algeria reached 524 billion dinars (8 billion U.S. dollars) in 2001-2007, accounting for 60 percent of the country's foreign direct investment, Algerian Industry and Investment Promotion Minister Hamid Temmar said Thursday.
Egypt tops the list with an investment of 136 billion dinars (2.05 billion dollars) for 27 projects, followed by the United Arab Emirates, with an investment of 76 billion dinars (1.15 billion dollars) for five projects.
The Algerian government has made great efforts to provide a fair and healthy environment for foreign investment, Temmar said.
Arab countries are now making investments in Algeria's industry and petrochemistry sector, while in the past the majority of their capital would go to telecommunications, medicine, construction and real estate, he added.
Direct investment from Arab countries will reach 19 billion dinars (0.28 billion dollars) in 2008, according to Algeria's national development and investment agency.
Source: Xinhua
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