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2015, a turning point for national economy

 

ALGIERS- The year of 2015 will be a turning point for the national economy with the launch of the new development plan and the setting-up of mechanisms to boost growth, said Minister of Industry and Mining Abdesselam Bouchouareb in an interview with APS on Sunday.

Several issues were covered during the interview, especially the diversification of economy, the draft investment code and the reorganization of the public industrial sector.

The minister underlined that "the current oil market crisis makes it imperative for us to diversify our economy."

The holding of a restricted meeting and a Council of Ministers' meeting, both chaired by President of the Republic Abdelaziz Bouteflika, are "a strong political sign to mobilize all the lifeblood of the nation and the society for the necessary economic reforms," he added.

In this regard, Bouchaoureb said these reforms include the reorganization of the public industrial merchant sector, the amendment of the investment code to improve business climate and the reform of the agencies in charge of supporting SMEs.

To a question about the reorganization of the public industrial merchant sector, the minister announced the forthcoming creation of twelve industrial groups under the state holding companies of the Ministry of Industry and Mining.

The minister underlined that the new development plan can not be achieved without the amendment of the investment code to free the act of investing and make the business climate in Algeria more attractive.

The draft investment code, which aims at setting-up a legal framework to encourage national and foreign investors, has been finalized, he said, adding that it also aims at simplifying the procedures, adapting the incentives to the national economic policy, reconsidering the regulations governing the foreign direct investments as well as the statute and the missions of the National Investment Development Agency (ANDI).

Bouchouareb also underlined the special incentives granted by the Finance Act 2015 to encourage productive investment and improve the economic governance.

Sunday, 11 January 2015

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