At the Vietnam-Algeria Business Forum in Hanoi (Photo:  hanoimoi.vn)

Addressing the event, Mr. Nghi said that the Forum, an important activity within the framework of the 12th Vietnam-Algeria Inter-Governmental Committee, is a substantive and important opportunity for both sides to exchange information and learn about each other’s trade and investment incentives, priority areas, and potential projects.

At the Forum, representatives of Vietnamese ministries and sectors said that in order to create favorable conditions for domestic and foreign investors, Vietnam has reformed administrative procedures and simplified investment and business conditions.  In addition, the Government has issued policies to attract foreign investment in promoting green growth and sustainable import and export, and has helped businesses overcome obstacles.

Mr. Aoun said Algeria has many policies for industry, mining, agricultural processing, tourism, renewable energy, housing, and basic infrastructure, and offers incentives for small and medium-sized enterprises and startups.  Algeria has carried out institutional reforms, improved its business environment, and passed laws to help foreign-invested enterprises enjoy the same benefits and incentives as domestic enterprises. Algeria intends to promote technological transformation and economic innovation.

At a working session with Algerian Minister Ali A-un in Hanoi, Vietnamese Minister of Industry and Trade Nguyen Hong Dien said Algeria is Vietnam's second largest trade partner in North Africa. To promote cooperation in trade, industry, and energy, the Vietnamese minister asked the Algerian side to facilitate partnerships between petrol, oil and gas businesses.

Minister Ali A-un asked Vietnam to create favorable conditions for Algeria’s farm produce to access the Vietnamese market and pledged to help Vietnamese oil and gas companies invest in Algeria.