Algeria has a vast opportunity for business to prosper. Starting a company in Algeria is a brilliant idea and an exciting opportunity for any entrepreneur. Any plans are more likely to succeed than others. Here is a list of the top 5 business ideas to start in Algeria.
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1. Renewable Energy Business
During the forecast period of 2020-2025, the Algeria green energy market is projected to expand at a CAGR of more than 1%. Factors such as diversifying the country's economy and reducing reliance on the oil and gas industry are projected to drive the Algerian renewable energy market.
Algeria has a high biomass energy capacity due to solid waste, date palm biomass, grain wastes, and forestry residues. The best source of biomass potential in the country is solid waste. According to Algeria's National Cadastre for the Production of Solid Waste, the annual generation of urban wastes exceeds 10 million tonnes. Solid waste is either disposed of in open dumps or burned carelessly. Recently, they have begun to use recycled jute bags to reduce the effects of solid waste.
2. Food Industry Business
Algeria is enacting a new agricultural policy aimed at achieving food security, increasing domestic demand, and reducing imports of certain costly goods by attracting local investment. According to Algerian Customs numbers, overall cereal imports increased by 2.65 percent in volume terms from January to November 2020 relative to the same time in 2019, owing primarily to grain. Corn imports increased by 8.62 percent, while wheat imports decreased by 8.6 percent.
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Algeria is the world's biggest cereal consumer. The cultivation of durum wheat meets between 60 and 70 percent of the Algerian industry's needs. Algeria's cereal industry is primarily concerned with the manufacture of flour and semolina.
3. Textile and Leather Business
According to figures and action plans presented by industry analysts, the textile market is a promising strategic sector with strong assets that can achieve a workforce of 2 billion Euros Textile-Clothing export by 2022.
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Hundreds of Algerian factories specialize in the manufacture and processing of leather, with a production volume of 9 million square feet of bovine leather per year, offering facilities for the outsourcing of bovine skins and goats at any point of manufacturing and unbeatable cost. These sectors rose 4.2 percent in the first quarter of 2016, with a 6.5 percent growth.
Algeria aims to achieve a "solid relationship" under the 51-49 percent rule with foreign companies, especially Italian or Turkish companies, for the transfer of technology and expertise in this industrial division, to be able to rebound in the domestic market, where demand for quality goods is high. Emphasizing preparation that will gain 200 million DZD.
4. Petrochemical Business
Algeria's petrochemical industry has the potential to be the next big thing in the North African region. As a result of investment in the country's unconventional gas deposits, the Algerian government has set aside an US$80 billion five-year investment budget for the sector. This will undoubtedly affect the petrochemicals market, not just because there will be more gas available for feedstock, but also because Sonatrach will have more funds to spend in restructuring and expanding its petrochemicals industries.
5. Agriculture Business
During the forecast period, the Algerian agriculture industry is expected to develop at a CAGR of 2.4 percent (2021-2026). To protect strategic assets, Algeria's President declared in March 2020 a ban (temporary suspension) on the sale of any strategic commodity, such as food or drugs, until the end of the pandemic. Algerian government officials estimate that the country has enough food supplies to satisfy domestic food demand before the beginning of 2021. Since the beginning of the COVID-19 epidemic, there has been an increase in demand for semolina and flour.
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