Ads, commitments and orientations … The President of the Republic, Abdelmadjid Tebboune, met yesterday Sunday in Algiers the businessmen gathered under the leadership of the Algerian Economic Renewal Council (CREA). As the Head of state pointed out in his long speech, this meeting was an opportunity to assess the results of the first meeting, held in 2023, and make projections for the future. “”This meeting will be annual», Immediately announced the president, before getting to the heart of the matter. Recalling its economic commitments aimed at making Algeria “a country emerging by 2027, with a GDP of $ 400 billion”, it then takes stock of what has already been achieved, especially in terms of investments. “”Until today, we have 13,712 investment projects launched, for a value of 6,000 billion DA, which created 350,000 jobs of jobs“He said. In this sense, he says that 50 % of these projects concern industry, which should represent by the end of its mandate 13 % of GDP, he added. “”The industry fell from 18 % of GDP during the 1970s to 3 % in 2019. This means that Algeria is ahead of an industrial desert. Thanks to the efforts made, industry now represents between 6 and 7 % of GDP. We will achieve our goal“, He says. Continuing, he indicated that 21 % of projects are foreign investments: “This means that Algeria has become attractive to foreign investors, who benefit from the same treatment with the investment promotion agency ». « During this mandate, we will create another climate for industry. We are going to build a new generation of industrial captains and entrepreneurs“Promised the head of state. Addressing constraints, including bureaucratic reflexes that persist, even if they are less important, Tebboune says that the Algerian investment promotion agency (AAPI) is not able to support the new approach. This is why he announces the future creation, in two or three months, of a “one -stop shop” to facilitate the task of economic operators. “”In three years, we will be 50 million Algerians. It is necessary to meet their needs in jobs, housing and food“, He said again. Addressing the export component, the president made another announcement: the dissolution of the National Agency for the Promotion of Foreign Trade (Algex). “”From today, Algex, it’s over. This agency was created in 2001, while most of our exports were hydrocarbons and we imported $ 60 billion. What is this organization for?He asked himself. In the process, he issued instructions to the government to create two agencies before the end of May: one for exports and another for imports, “with monitoring systems at all levels to avoid shortages». Regarding the financing of investment projects, Abdelmadjid Tebboune encourages operators “to create private banks”, to get out of dependence on public finances. “”We opened the capital of two banks up to 30 %. We can still go to 49 %. But the ideal would be that private banks finance private projectsHe says. Continuing, the President of the Republic returned to exports, to announce the objective of reaching this year the $ 10 billion in exports excluding hydrocarbons. As for the revision of the Association Agreement with the European Union (EU), the Head of State ensures that the European party “accepted the idea”.
Samir Rabah
