Tebboune announces an investment of $ 20 billion in Malaysia, against the backdrop of rapprochement with Southeast Asia

President Abdelmadjid Tebboune announced, in an interview broadcast on Algerian television that a Malaysian investor is preparing to inject nearly $ 20 billion into the Algerian industrial sector. An announcement which occurs in a context of reinforced diplomatic opening towards Asia.

Algeria officially joined, on July 10, the Treaty of Friendship and Cooperation in Southeast Asia (TAC), during a ceremony in Kuala Lumpur, on the sidelines of the 58ᵉ Meeting of the ASEAN Foreign Ministers. This membership marks a new strategic orientation to a growing region, carried by Minister Ahmed Attaf, currently on tour in the area. After a visit to Singapore, the head of Algerian diplomacy met several Malaysian officials, including the secretary general of the ASEAN. Objective: to strengthen economic, energy and security partnerships with a block that has become central in the world balances. The presidential announcement of a massive investment confirms this dynamic. By opening up to Southeast Asia, Algiers diversifies its alliances and asserts itself in a logic of South-South cooperation, far from the old reflexes of dependence on Western powers.