President Abdelmadjid Tebboune met the bosses on Sunday April 13 at the CIC in Algiers, under the theme “Algeria 2025, the year of economic success” where he announced the End of Algex and its replacement with two new structures.
The first will deal with exports that Algeria seeks to develop to reduce its dependence on hydrocarbons.
“The objective is to achieve, this year, $ 10 billion in exports excluding hydrocarbons,” said the Head of state.
The second is dedicated to the regulation of imports that Algeria seeks to reduce to develop national production and preserve exchange reserves.
“Algeria has become an industrial desert”
President Tebboune also expressed his anger at the persistence of bureaucratic practices on the part of the nostalgic of the old regime. In his speech, he did not spare the Algerian Investment Promotion Agency (AAPI) due to the delay in setting up the one -stop shop for investors.
Still in terms of investment, he found normal that the state sells industrial land at 35,000 dinars. “The state does not speculate,” he decided.
“The investment is free. I said it and I repeat it, “said Abdelmadjid Tebboune who expressed his anger because of the flambé of the price of the potato. This wide consumption product reached 160 dinars per kilo. “It is a shame when the President of the Republic talks about the potato,” he said.
Tebboune wants a new generation of Algerian entrepreneurs
The Head of State underlined the deterioration of the industrial sector in Algeria, indicating that industry represented only 3% of the country’s GDP at the end of 2019 against 18% in the 1970s.
“Algeria has become an industrial desert. It is very dangerous, “he alerted, indicating, however, that the share of industry in the GDP of Algeria increased to 6 or 7%.
“We are going to reach a rate of 13-14% of the GDP industry,” said Tebboune, saying that the objective is to create a “new generation of Algerian entrepreneurs who are not polluted by overcharging, undeveloping, corruption …” practices … “
In the process, he renewed his confidence in the Council of Algerian Economic Renewal (CREA), organizer of the meeting. “They have built you to torpedo you,” he said, saying that Algeria’s objective is to become the “second, even the first economy in Africa”.
President Tebboune set the CAP for 2027, reiterating his goal of raising Algeria among emerging countries, with a GDP of $ 400 billion.
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