Algerian conglomerate GFR seeks partners in Vietnam

August 21, 2023 | 14:29
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Algerian company Groupe des Frères Rahmoune (GFR) convened with the Vietnamese Embassy and Trade Office in Algeria on August 20 in an effort to foster collaboration and explore partnership opportunities in sectors ranging from automobile imports to agriculture, packaging, construction materials, and tourism.
Algerian conglomerate GFR seeks partners in Vietnam

Founded in 1986, GFR is a family-owned conglomerate steered by the Rahmoune brothers, with the eldest sibling Ahmed Rahmoune at the helm as CEO. Boasting a diverse portfolio, the group oversees 12 subsidiary companies.

This includes an auto import-export entity based in Dubai that is involved in an array of sectors such as ceramic production, construction materials, food processing, coastal tourism resorts, real estate, and the distribution of cars and motorcycles.

The Vietnamese Ambassador to Algeria, Tran Quoc Khanh, along with commercial counsellor Hoang Duc Nhuan, presented an overview of Vietnam's economic achievements, potentials, and strengths in the areas of GFR's interest, aiming to connect them with the appropriate Vietnamese corporations.

During the meeting, Ahmed Rahmoune, chairman of GFR, said, "Vietnam's remarkable economic progress in recent years has truly impressed me, and we have a strong interest in forging ties with Vietnamese enterprises."

In the automotive sector, GFR engaged in substantive discussions with representatives from Truong Hai Auto Corporation (Thaco) about importing buses, trailers, and motorcycles.

Furthermore, there is palpable interest from GFR in potentially collaborating with VinGroup for the distribution of VinFast electric cars and motorcycles in the Algerian market.

Several GFR companies also initiated dialogues with Mecanimex to locate potential suppliers of large packaging for their cement and clinker manufacturing and export operations.

Furthermore, the group expressed an intent to partner with other Vietnamese companies for sourcing sugarcane, aiming to meet the import demand of over 36,000 tonnes annually for their bakery production lines.

Rahmoune also revealed the group's aspiration to find a partner to construct a water amusement park for their coastal resort.

“Looking ahead, GFR aims to strengthen collaborations with Vietnamese partners across various sectors, including renewable energy, aquaculture, pharmaceuticals, and telecommunications,” he said.

Following the dialogue, a representative from Thaco extended their gratitude to the Vietnamese Embassy in Algeria for facilitating such a meaningful connection between enterprises of both nations.

“Thaco holds a strong belief that Algeria represents great potential as a burgeoning market for our flagship products,” the representative said.

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