The event held as part of Prime Minister Pham Minh Chinh’s official visit to Algeria from November 18 – 20.

The Vietnam-Algeria Economic Forum, theming “Towards an
Effective and Sustainable Economic Partnership,” was held in Algiers on
November 19 afternoon (local time) as part of Prime Minister Pham Minh Chinh’s
official visit to Algeria from November 18 – 20.

With the attendance of Prime Minister Pham Minh Chinh,  his Algerian counterpart Sifi Ghrieb, and   more than 500 delegates representing
government agencies and businesses from Algeria and Vietnam, the forum was of
great significance as it was held immediately after the two countries upgraded
their relationship to a Strategic Partnership, demonstrating the two sides’ determination
 to soon realize the new cooperation
framework; expand diplomatic – trade – investment cooperation, towards a deeper
and more practical stage of development.

After more than 60 years of diplomatic relations, Algeria is
now one of Vietnam’s important trading partners in Africa in terms of
economics. Bilateral trade turnover in 2024 reached more than $198 million.
Vietnam mainly exports coffee, pepper, metals, and chemicals to Algeria, and
imports mainly fruits, vegetables, animal feed, and raw materials from Algeria.
The two sides aim to soon reach a trade turnover of $1 billion in the near
future.

Regarding investment, the two sides have a number of
projects, the most typical of which is a project between large enterprises of
Vietnam and Algeria in the field of oil and gas exploration and exploitation.

SEEKING SPECIFIC COOPERATION OPPORTUNITIES TO PROMOTE
EXPORTS BETWEEN THE TWO COUNTRIES

At the forum, delegates heard presentations on the
potential, needs, and investment environment of Vietnam and Algeria; and
discussed issues to open a new, more vibrant, sustainable, and effective
chapter of cooperation between the two countries; towards a practical strategic
partnership, where each cooperative project is a step forward, each success is
a testament to the deep friendship and common benefits of the two nations.

Speaking at the event, Algerian PM Ghrieb said the forum
demonstrated the strong resolve of both countries not only to build upon their
historical ties but also to promptly translate the newly established Strategic
Partnership into concrete outcomes for future development.

He thanked businesses and investors from both countries for
their contributions to the economic restructuring and regional integration of
Vietnam and Algeria.

With strong interest and participation from the business
communities, he expressed confidence that the forum would create new opportunities
and momentum for cooperation, expanding the scope of partnerships between
Vietnam and Algeria.

The host underlined the need for both sides to be proactive
in identifying export products, establishing firm positions in each other’s
markets, promoting trade diversification, and expanding market access.

Algeria, he said, hopes to strengthen the presence of its
exports—particularly plant-based products, pharmaceuticals, fertilizers and
manufactured goods—in Vietnam.

He urged Algerian enterprises to work closely with
Vietnamese partners to explore more trade cooperation opportunities, especially
in technology, agriculture, digital transformation, energy, oil and gas,
pharmaceuticals, and tourism.

PM Ghrieb noted that Algeria has adopted numerous laws,
mechanisms, and policies to attract investment and upgrade infrastructure. He
affirmed Algeria’s commitment to streamlining procedures to welcome more
Vietnamese investment.

With its strategic location as a gateway to the Middle East,
Africa and Europe, Algeria offers significant advantages for Vietnamese
businesses, he said, encouraging companies to seize opportunities for South –
South cooperation.

He added Algeria will continue to host international
investment forums, expressing his hope that with Vietnam’s active
participation, his country’s regional role will be further strengthened in the
coming time.

PROMOTING INVESTMENT IN ALGERIA IN FIELDS OF STRENGTH

Speaking at the forum, PM Chinh said the Vietnam – Algeria
economic forum held historic significance as it received the attention of Party
General Secretary To Lam and the President of Algeria, and was attended by the
PMs of both countries. It took place immediately after the two countries
upgraded their relations to a strategic partnership, was the largest of its
kind ever held between the two nations, and covered all economic fields as the
Algerian PM affirmed that economic cooperation between two countries has no
limits.

The visiting PM emphasized that relations between Vietnam
and Algeria, from the past until today, have always been those of good friends,
good partners, and good brothers, especially during the struggles for national
independence and freedom. Therefore, at present and in the future, there is no
reason that would prevent the two countries from continuing to be good friends,
good partners, and good brothers in economic development so that each nation
can grow in civility, strength, and prosperity, and its people can enjoy
increasing happiness and well-being.

Sharing about Vietnam’s situation, he said currently,
Vietnam is implementing three strategic breakthroughs in infrastructure,
institutions, and human resources training. Alongside this, the country is
carrying out six key tasks: building an independent and self-reliant economy
with proactive and active integration into the world; maintaining political
stability, social order, and safety; implementing the national defense policy
of “four no’s”; pursuing a foreign policy of independence, self-reliance,
diversification and multilateralization of external relations, being a good
friend and reliable partner of all countries around the world, and being a
responsible member of the international community; building an advanced culture
imbued with national identity while absorbing the cultural essence of
humankind; ensuring social equality, progress, and security so that no one is
left behind in the development process; and building a clean and strong Party
and political system.

These are important stepping stones and conditions for
businesses, including Algerian ones, to come to invest and do business stably
and effectively in Vietnam, he affirmed.

PM Chinh praised Algeria’s geographical location, climate,
natural resources, and investment potential and strengths. He asked Vietnamese
enterprises to enhance investment cooperation in Algeria in the field of
energy, including oil and gas exploration, petrochemical refining, wind energy,
and solar energy.

He also encouraged them to explore investment opportunities
in agriculture, fisheries, agricultural and aquatic processing, manufacturing,
science, and technology as the President of Algeria suggested Vietnamese
enterprises invest in anything from tea farming to chip production and 5G
products, in the spirit that “the interests of Algeria are the interests of
Vietnam; the interests of the Algerian people are the interests of the
Vietnamese people; and the achievements of enterprises in Algeria are also
those of Vietnamese enterprises”.

Proposing that the two sides upgrade existing cooperation
mechanisms and establish new ones to promote collaborative ties, PM Chinh
expressed his belief that with the new momentum, new motivation, and new
resources and based on the results already achieved, the two countries will act
in accordance with the Strategic Partnership and will be worthy of the precious
legacy built by previous generations.

PM Chinh stressed that while guidelines come from the two
States and their leaders, turning these guidelines into concrete outcomes
depends on ministries, sectors and, especially, enterprises of both countries,
so that they can fully leverage their distinct potentials, outstanding
opportunities, and competitive advantages to foster prosperity in both nations.

Vneconomy-Viet An