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La France: «premier investisseur hors hydrocarbures» en Algérie - Algerie360
La France est le premier investisseur hors hydrocarbures en Algérie. Les entreprises françaises ont apporté plus de 2 milliards d’euros de capitaux en deux années seulement (2014-2016), selon une étude réalisée par la chambre de commerce et d’industrie Algéro-française (CCIAF). Cette dernière a mené une étude dans 6 pays pour mieux comprendre la composition des investissements étrangers en Algérie. L’étude en question est fondée sur une analyse des comptes sociaux des 50 plus grandes sociétés étrangères hors hydrocarbures de chacun de 6 pays partenaires implantés en Algérie, à savoir la France, l’Espagne, l’Italie, l’Allemagne, la Chine et la Turquie.
Selon cette étude, présentée hier par le président de la CCIAF, Jean-Marie Pinel au siège de son organisation à Alger, les sociétés les plus importantes des six pays partenaires détiennent un total de 5 213 millions d’euros de capitaux propres en Algérie en 2014, avec une moyenne de 18 millions d’euros par société.
«La France est de loin le principal partenaire de l’Algérie en termes de capitaux propres, suivie par l’Espagne si l’on y intègre Fertial. Les plus importantes sociétés allemandes détiennent presque autant de capitaux propres en total que les sociétés turques, bien que le total de l’Allemagne ne soit calculé que sur les 33 sociétés significatives de ce pays en Algérie, au lieu de 50 pour les autres», a fait savoir M. Pinel qui note que les industries les plus importantes en termes de capitaux propres sont l’industrie des produits chimiques et la finance, suivies par les boissons et les matériaux de construction. La France, selon lui, affiche la plus large gamme d’industries pour ses 50 plus grandes sociétés par capitaux propres en Algérie, avec des chiffres qui sont fortement marqués par la présence de plusieurs banques, sachant que le capital social minimum pour ouvrir un établissement bancaire dans le pays est de 10 milliards de dinars.
D’après l’étude du CCIAF, les industries de production représentent moins d’un tiers du nombre total de sociétés étudiées mais possèdent plus de la moitié des capitaux propres. Cette proportion s’inverse pour les sociétés de services (sauf établissements financiers), qui représentent la moitié en termes de nombre mais qui ne détiennent que le tiers des capitaux propres. Pour l’Espagne, l’apport important de l’industrie de production est surtout dû aux deux plus importantes sociétés espagnoles qui représentent à elles seules 80% des capitaux propres des sociétés espagnoles étudiées.
Il faut relever, par ailleurs, que les sociétés les plus importantes des six pays partenaires détiennent un total de 579 millions d’euros d’emprunts en Algérie en 2014, avec une moyenne de 13 millions d’euros par société. Tandis que la France est le principal partenaire en Algérie en termes d’immobilisations, elle arrive en troisième position en ce qui concerne les emprunts. «Ces données indiquent que certains pays financent plus leurs investissements par capitaux propres que par emprunts. D’autres pays financent davantage leurs investissements avec des emprunts», selon l’étude qui souligne que les industries les plus importantes en termes d’emprunts sont les services municipaux (gestion des eaux, services de recyclage, etc.), suivies par les véhicules et le BTP.
Il faut savoir également que les industries de production représentent moins d’un tiers du nombre total de sociétés étudiées mais possèdent plus de deux tiers des emprunts. Cette proportion s’inverse pour les sociétés de services, qui représentent la moitié en termes de nombre mais qui ne détiennent que le quart des emprunts. Pour l’Espagne et l’Allemagne, entre 90% et 91% de leurs emprunts proviennent des industries de production.
«Les emprunts de la France sont dominés par les sociétés de services», est-il expliqué par le président de la CCIAF qui ajoute que les sociétés les plus importantes des six pays partenaires clés détiennent un total de 3 671 millions d’euros en immobilisations en Algérie en 2014, avec une moyenne de 13 millions d’euros par société.
L’Espagne, selon l’étude, apparaît plus importante en termes d’actifs mais ses actifs sont financés par des capitaux propres plus faibles et des emprunts plus importants.
En outre, les activités industrielles représentent la majorité des immobilisations des sociétés étudiées, ce qui paraît logique. Les pays qui comptent le plus grand nombre de sociétés manufacturières (la France, l’Espagne) ont une contribution plus importante aux immobilisations que les pays dominés par des sociétés importatrices ou de services (la Chine, la Turquie), d’après l’étude de la CCIAF qui note que les sociétés les plus importantes des six pays partenaires ont généré un total de 1 593 millions d’euros en valeur ajoutée en Algérie en 2014, avec une moyenne de 6 millions d’euros par société. La France est le principal partenaire de l’Algérie en termes de valeur ajoutée, suivie par l’Italie. Les plus importantes sociétés allemandes produisent plus de valeur ajoutée en total que les sociétés chinoises, bien que le nombre de sociétés allemandes retenues ne soit que de 33.
En en guise de conclusion, l’étude de la CCIAF soutient que l’investissement français est le plus diversifié et plus important parmi les sociétés étrangères (hors hydrocarbures).
«Ces chiffres et ces classements, malgré certaines insuffisances structurelles des bilans publiés, nous paraissent pour l’instant (2014) les plus fiables car recoupés pour chaque entreprise avec ses déclarations fiscales annuelles», indique l’enquête de la CCIAF qui souligne qu’environ 300 sociétés étrangères produisent près de 2% du PIB algérien.
Ces sociétés représentent 5.213 millions d’euros de capitaux propres et 3 671 millions d’euros d’investissements corporels. Les capitaux propres incluent 669 millions d’euros de résultats mis en réserve. La moitié de ce montant est constituée par des réserves non distribuées des sociétés françaises. Ainsi, 35% des investissements français proviennent de la conservation de bénéfice en Algérie, conclut l’étude.