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彼岸長青 Paramita SasvataL'invitation Au Voyage 远方的邀请
Driver’s view of the East–West Highway (A1) at Maghnia, Tlemcen Province, Algeria

背景Background

國家的發展紅利期20年當地經驗30年資產管理能力Tailwind in the developing eraOver-20-years local experiencesOver-30-years asset management capabilities.

恰逢阿爾及利亞的大規模工業化的發展紅利期,我們擁有20年在當地的經營管理的經驗,以及30年大陸和香港的資產管理能力。

Capitalizing on the tailwind of Algeria's nation-wide industrialization period, we leverage over-20-years of local experiences of operation and management in the country, together with over-30-years of asset management expertise across Mainland China and Hong Kong.

Photograph by Habib Kaki, CC BY-SA 3.0

阿爾及利亞的巨大發展紅利Algeria witnesses a massive industrialization tailwind

阿爾及利亞通過油氣產業形成了原始的資本積累,政權和政體的穩定,以及文化上的多元性,加上遠超其工業發展水平的電網和公路網,以及巨大的資源優勢和人口-市場優勢,正在經歷大規模吸引外資和大規模工業化的發展紅利期。

Algeria has achieved primitive capital accumulation through its oil and gas industry. Coupled with political and regime stability, cultural diversity, an electricity grid and road network far exceeding its level of industrial development, as well as enormous resource advantages and a large population–market advantage, the country is now entering a period of development dividends marked by large-scale foreign investment attraction and massive industrialization.

機遇Opportunities

  1. 1

    白非洲+穆斯林社會,文化多元性+132年法國殖民,社會安定和諧、沒有極端主義的土壤White Africa + Muslim Society, Cultural Diversity + 132-year French Colony, resulting in Stable and Harmonious Society without Extremism

    阿拉伯人(約占73%至85%)和柏柏爾人(約占15%至27%)兩大族群構成,兩者皆屬於歐羅巴人種(白種人)地中海類型。

    The two main ethnic groups are Arabs (about 73%~85%) and Berbers (about 15%~27%), both of which belong to the European race (white) Mediterranean type.

  2. 2

    政治宏觀穩定Political Stability

    總統制,執政聯盟保持多數(2026 年),無大動盪。

    Presidential system, ruling coalition retains majority (2026), no major upheaval.

  3. 3

    年輕人口與城市化Young & Urbanizing Population

    人口約 4,740–4,800 萬,0–14 歲佔 31%,城市化率約 75–76%。

    Population ~47.4–48M, 31% aged 0–14, urbanization ~75–76%.

  4. 4

    工業化政策與激勵Industrialization Policy & Incentives

    2027–2035 工業集群戰略:工業 GDP 佔比 6–8% → 12–15%;AAPI 稅收/關稅豁免。

    2027–2035 cluster strategy: industry GDP share 6–8% → 12–15%; AAPI tax/customs holidays.

  5. 5

    基礎設施總量超前Infrastructure Capacity Ahead of Industrial Demand

    公路網約 11.3 萬公里(非洲最密集之一);電力裝機約 26–29GW,2026 年新增 2.74GW。

    Road network ~113,000 km (among Africa's densest); power capacity ~26–29 GW, +2.74 GW in 2026.

  6. 6

    要素成本具競爭力Competitive Factor Costs

    工業電/氣價格有競爭力;最低工資 2.4 萬第納爾/月(約 184 美元),平均工資約 5.5 萬第納爾/月(約 406 美元)。

    Industrial power/gas prices competitive; min wage DZD 24K/mo (~USD 184), avg wage ~DZD 55K/mo (~USD 406).

  7. 7

    非戰略行業允許 100% 外資持股100% Foreign Ownership in Non-Strategic Sectors

    51/49 要求僅限進口轉售及戰略行業(能源、礦業等);多數生產/服務允許 100% 外資。

    51/49 rule limited to import-for-resale & strategic sectors (energy, mining, etc.); most production/services allow 100% foreign ownership.

挑戰Challenges

  1. 1

    工業化執行瓶頸Industrialization Execution Bottlenecks

    國企主導、信貸稀缺、行政門檻高、技能不足;集群戰略能否轉化為產能/出口?

    SOE dominance, scarce credit, high admin barriers, skills gaps; cluster strategy → capacity/export?

  2. 2

    基礎設施質量與工業用地缺口Infrastructure Quality & Industrial Land Gaps

    電網損耗 12–15%;智能電網有限;通關/港口延誤;可用工業用地稀缺。

    Grid losses 12–15%; limited smart-grid; customs/port delays; scarce serviced industrial land.

  3. 3

    實務進入門檻高High Entry Barriers in Practice

    多數領域允許 100% 外資,但:程序繁瑣、外匯管制嚴、許可慢、通關延誤。

    100% foreign ownership allowed in most sectors, but: cumbersome procedures, strict FX controls, slow permits, customs delays.

  4. 4

    隱性成本抵消要素優勢Hidden Costs Offset Factor Advantages

    能源/工資有優勢,但:用地稀缺、技能不匹配、外匯/通關延誤;2026 年電/氣價上調。

    Competitive energy/wages, but: scarce land, skills mismatches, FX/customs delays; 2026 power/gas tariff hikes.

法國132年殖民留下的深遠影響The lasting impact of France's 132-year colonial rule

  1. 1

    法律體系健全Sound Legal System

    法國 1830–1962 年殖民統治期間,將阿爾及利亞納入法國法律體系,引入民法典、商法典及行政法傳統。獨立後,阿爾及利亞保留大陸法系框架,並融合伊斯蘭法與本地習慣法,形成混合法律結構。對投資者而言,這意味著合同、產權與爭議解決有較清晰的成文法依據,降低法律不確定性。

    During French colonial rule (1830–1962), Algeria was integrated into the French legal system, introducing the Civil Code, Commercial Code, and administrative law traditions. Post-independence, Algeria retained the civil law framework while integrating Islamic law and local customs, creating a hybrid legal structure. For investors, this means contracts, property rights, and dispute resolution rest on clearer codified laws, reducing legal uncertainty.

  2. 2

    民主思想深入民心Democratic Ideas Deeply Rooted

    法國殖民時期雖實行雙軌制(歐洲人享公民權、穆斯林受《土著法》壓迫),但也引入現代國家概念、選舉制度與公民權利話語。獨立後,阿爾及利亞建立共和國體制,歷經多黨制實驗與 2019 年「Hirak」運動,民眾對民主參與、問責與自由的訴求持續存在。儘管投票率低,民主理念已成為社會討論的重要參照。

    Although French colonial rule implemented a two-tier system (full citizenship for Europeans, repression under the Code de l'Indigénat for Muslims), it also introduced modern state concepts, electoral institutions, and civic rights discourse. Post-independence, Algeria established a republican system, experienced multi-party experiments, and the 2019 Hirak movement, sustaining public demands for democratic participation, accountability, and freedom. Despite low turnout, democratic ideals remain a key reference in social discourse.

  3. 3

    多元文化共存Multicultural Coexistence

    法國殖民統治重組了阿爾及利亞的語言與文化等級:法語成為行政、教育與商業語言,阿拉伯語與柏柏語則在宗教與日常生活中延續。獨立後,阿拉伯語官方化、2016 年柏柏語(Tamazight)獲憲法承認,法語仍廣泛用於高等教育與商界。這種多語、多文化格局,使阿爾及利亞具備適應中東、非洲與歐洲市場的獨特文化韌性。

    French colonial rule reorganized Algeria's linguistic and cultural hierarchy: French became the language of administration, education, and business, while Arabic and Amazigh persisted in religion and daily life. Post-independence, Arabic was officialized, Amazigh (Tamazight) gained constitutional recognition in 2016, and French remains widely used in higher education and business. This multilingual, multicultural landscape gives Algeria unique cultural resilience to adapt to Middle Eastern, African, and European markets.

20年本地經驗和資源,反而能夠解決上述的挑戰,從而形成稀有的競爭力Over-20-years local experiences and resources can solve the above challenges, thus enableing PSIH's unique capabilities

工業用地不足,且被本地關係戶佔據Limited industrial land supply and occupied largely by local cronies

關聯公司已经从投资促进局直接取得Saïda省的工业用地的使用權,面积达到50公顷

Our affiliated company has obtained 50 hectares of industrial land directly from Agence Algérienne de Promotion de l'Investissement(AAPI)in Saïda Province.

本國國企主導,信貸稀缺Domestic SOEs dominate the industrial development, with scarce bank credit supported

我們的關聯企業已經在奧蘭Oran的鋼廠項目取得了當地銀行超過30億第納爾的信貸支持

Our affiliated companies have secured bank credit support of over 3 billion Algerian Dinars for the Oran Steel Plant project.

進出口手續慢、通關延誤Slow customs clearance and delays

我們在以往的項目中,在金額達數億人民幣的工廠設備全部在幾個月內通關並運抵項目現場。

In our previous factories, all factory equipments worth over tens of USD millions had been cleared and arrived at the project site within months.