Algeria

President of the Republic issues instructions to open capital of public companies, including banks

 President of the Republic, Abdelmadjid Tebboune, during his presidency of the periodic meeting of the Council of Ministers today, Sunday, gave instructions to open the capital of public companies, including banks, as well as to find effective solutions and to move away from administrative management in order to develop the industrial sector, according to a press release of the Council of Ministers.

While presiding over the meeting, the President of the Republic, the Supreme Commander of the Armed Forces, the Minister of National Defence, after listening to the presentation of the Prime Minister and the Minister of Finance and the presentations of a number of ministers on various projects, and then discussing and approving them, gave instructions and orders to develop the industrial sector towards establishing agencies for industrial, agricultural and urban real estate.

President of the Republic also ordered an accurate census of untapped industrial real estate, granted and non-granted, as well as accelerating the issuance of new legal texts on investment, to stimulate partnership and create job opportunities, while creating a balance in investment between north, south and plateau regions.

Moreover, the President of the Republic instructed to settle the problems of the industrial zones and to organize their exploitation in more efficient ways, “and to reconsider the way they are run, especially as they contain real estate that has not yet been used.”

The President also ordered the Prime Minister and Minister of Finance, Aïmene Benabderrahmane, and the Minister of Interior, Local Authorities and Urban Development, Kamel Beldjoud, to supervise the “immediate establishment of activity areas”, in order to create small and medium-sized enterprises aimed at young people across all municipalities.

On the other hand, the President of the Republic ordered a review of the Single Window, with the aim of giving it efficiency and speed in the realization of real investments in various sectors, while continuing to fight all forms of corruption.

He also recommended respecting the specifications stipulated in the industrial sector, “away from fraud and exploiting and exhausting the state’s capabilities, as happened in previous years.”

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