ISLAMABAD: Pakistan and Algeria have agreed to pursue closer investment cooperation in energy, mining and digital development, Pakistan’s Special Investment Facilitation Council (SIFC) said on Friday, as Islamabad steps up efforts to attract foreign capital and expand international collaborations.
The SIFC is a hybrid civil-military body formed in 2023 to fast-track decisions related to international investment in sectors including tourism, livestock, agriculture and mines and minerals. It has been central to Pakistan’s efforts to attract foreign investment and streamline regulatory approvals amid recurring balance-of-payments pressures.
Federal Secretary SIFC Jamil Qureshi said in a social media post that he met Algeria’s Ambassador to Pakistan, Dr. Brahim Romani, and discussed signing a memorandum of understanding to strengthen institutional collaboration between the Algerian Investment Promotion Agency and the SIFC.
“Both countries share strong potential to expand cooperation in strategic sectors such as energy, mining, digital transformation, and industrial development,” he said.
“Algeria’s experience in leveraging natural resources through institutions like Sonatrach, developing large-scale mining projects, and promoting industrial localization through partnerships with global firms such as Stellantis offers valuable lessons for Pakistan as we advance priority initiatives including Reko Diq, renewable energy expansion, and EV manufacturing,” he continued.
Qureshi said the two sides also explored collaboration in digital governance and smart agriculture, similar to Algeria’s satellite-driven agricultural and climate monitoring initiatives.
Islamabad has in recent months intensified outreach to Middle Eastern, Central Asian and African partners as it seeks long-term investment rather than short-term financial support.
Pakistan’s economy has stabilized under an International Monetary Fund program, with the government actively seeking foreign investment and collaborations to boost growth, improve exports and ease pressure on foreign exchange reserves.
“We look forward to translating this shared vision into concrete projects that generate jobs, enhance exports, and strengthen Pakistan–Algeria economic partnership,” Qureshi added.
Qureshi did not provide a timeline for signing the proposed memorandum of understanding.
