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The President of the Republic orders the formation of a working group to review the commercial law

 

The President of the Republic, Mr. Abdelmadjid Tebboune, while presiding over a cabinet meeting, ordered the formation of a working group to review the commercial law in order to adapt it to the requirements of economic reforms.

The Cabinet statement said that the President of the Republic ordered “the formation of a working group to review the commercial law, in order to adapt it to the requirements of the economic reforms taking place in the country, and to ensure that it keeps pace with the developments of commercial activity.”

Regarding the establishment of a new form of companies called “simple joint stock companies,” the president stressed that “creating a new form of companies in the startups sector aims to encourage young people to invest and provide more incentives for this category,” highlighting the need to “mobilize financial resources to invest in these companies.” As part of an economic dynamic that is evolving away from a purely administrative, unmotivated logic.”

The President of the Republic underlined “the necessity of completely liberating the initiative and allowing project holders to access the world of economy, without barriers or restrictions, that inhibits the spirit of investment and creativity as a main driver of development,” emphasizing that “advancing the positive vision of implementing an effective economic policy and liberating initiatives from the procedures’ obstacles and weight.” According to the same statement .

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