Minister of Industry and Mining Abdesselam Bouchouareb outlined Sunday in Turkey’s capital Istanbul, the main lines and objectives of the new strategy of the industrial development in Algeria.
In a statement delivered at the World Economic Forum, which is being held in Istanbul, Bouchouareb affirmed that the project of the industrial recovery in Algeria is mainly intended to "modernize, harmonize and integrate the industrial fabric and hoist it to the international standards of excellence and competitiveness."
Corporate governance is also one of the main lines of the new project through incentives, regulation and organization as well as an adaptation of the current rule, the minister said.
The public authorities’ new approach in terms of the industrial recovery focuses on the promotion of the digital economy, the setting up of flexible and modern modes of financing and the encouragement of the excellence and innovation.
The challenge, said Bouchouareb, lies in facilitating the creation of companies, improving Algeria attractiveness of Algeria business and encouraging the international famous companies to settle in Algeria.
In this regard, a dozen sectors "in strong synergies" are identified for the implementation of this new policy, namely the car and mechanical industry, pharmaceuticals and the chemical and petrochemical industry, water treatment and the environment, the food industry, railways, textiles and building, Bouchouareb detailed in front of the participants at the Forum.
"Algeria has all assets to be, in close future, one of the emerging countries and industry plays a crucial to achieving this ambition," he underlined, recalling that the objective set by the Algerian authorities is to reach a 7% economic growth by 2019.