Improving Algerian business climate, a must for growth and employment

The improvement of the business climate and investment in Algeria was highlighted Tuesday during the first day of the conference on economic and social development, as a critical requirement to create growth and jobs.
While opening the proceedings of the three-day conference, Prime Minister Abdelmalek Sellal, was clear on the issue of encouraging investments by noting that the national economy is open to all partners of Algeria but with preserving the national interests.
"Our laws protect all the partners, it is true that we have principles that protect our interests, but we are working with all partners, whether domestic or foreign, as the necessity for the government is to create wealth," he told the participants.
So, the Premier stressed that the government worked to improve the conditions of competitiveness by placing the national company at the heart of its approach for the improvement of business climate.
In the new government guidelines on investment, the public companies will now be associated in the financing of public investment projects, mainly taken so far by the state, he said.
In addition, the government's actions will be focused on the emergence of a knowledge-based economy with the encouragement of innovation and the creation of start-ups.
In this regard, Sellal announced the next creation in Algeria of an international academy of knowledge whose members will be chosen from among world renowned scientists.
As for him, Minister of Industry and Mines Abdessalam Bouchouareb, said the revision of the investment code has addressed the need to make a more fluid and competitive legislation.
Bouchouareb recognized in this regard, "the weaknesses" of the regulatory framework governing investment.
Recalling the many tax benefits to investors by various finance laws, the Minister of Finance, Mohamed Djellab, said his department was prepared to strengthen the government's actions in the process of industry recovery.