Core Insights - Algeria, as a major energy-rich country in North Africa, is striving for economic diversification and green development despite facing challenges such as strict visa policies and inflexible decision-making [1][2][3]. Energy Sector - Algeria has proven oil reserves of 1.7 billion tons, ranking 15th globally and 3rd in Africa, and natural gas reserves of 46 trillion cubic meters, accounting for 2.37% of the world's total, ranking 10th globally [1]. - In 2023, Algeria's oil and gas production reached 194 million tons of oil equivalent, with exports of 97 million tons, a 3.5% increase from the previous year [1]. - The country anticipates an average annual growth of 1.3% in oil and gas production from 2024 to 2028, reaching 207 million tons by 2028 [1]. Economic Diversification Efforts - Algeria plans to invest $60 billion from 2025 to 2029 for a comprehensive energy economic transformation, including the construction of 15 solar power plants with a total installed capacity of 3,200 megawatts [3]. - By 2030, Algeria aims for 40% of its domestic electricity demand to be met by renewable energy, with a target of 15,000 megawatts of clean energy generation capacity by 2035 [3]. - The Tandra 200 MW solar power project, built by Chinese companies, is a key initiative to achieve Algeria's 2030 strategic goals, creating approximately 500 local jobs [3]. International Cooperation - Algeria is diversifying its international partnerships, reducing reliance on France, which remains a significant trade partner, with imports from France totaling approximately $5.6 billion and exports around $6.92 billion in 2024 [4]. - The country is expanding its market reach in Asia, initiating industrial cooperation with Malaysia and joining the Treaty of Amity and Cooperation in Southeast Asia in 2025 [5]. - A trilateral agreement with Nigeria and Niger aims to implement a $13 billion trans-Saharan gas pipeline project, enhancing Algeria's role in European energy supply [5]. Challenges in Economic Transformation - Algeria's strict visa policies hinder foreign investment, with only seven countries' citizens allowed visa-free entry [6]. - The economic infrastructure remains relatively weak, with limited availability of diverse goods and lengthy customs clearance processes for imports [6]. - Foreign investors face challenges such as mandatory local partnerships, high tax burdens, and bureaucratic hurdles, which complicate the establishment and operation of businesses in Algeria [6].