Breaking News
finance & economy

Up to 2,500 pending projects await approval by National Investment Council

November 24, 2021

ALGIERS- The Prime Minister, Minister of Finance, Aïmene Benabderrahmane, revealed that nearly 2,500 projects are awaiting approval by the National Investment Council, stressing the government’s determination to remove all administrative difficulties that hinder investment in the country.

This came in the preliminary report of the Council of the Nation’s Economic and Financial Affairs Commission on the Draft of the Finance Law for the year 2022, which was presented today, Monday, in a public session devoted to discussing the Draft law, chaired by Salah Goudjil, President of the Council.

This introductory report contained the responses of Mr. Benabderrahmane to the concerns of the members of this commission, during the meeting that took place last Thursday.

According to this report, the Prime Minister revealed that a national symposium for economic recovery will be held “soon” under the auspices of the President of the Republic.

On the other hand, the Prime Minister affirmed that the five structural projects decided by the public authorities have begun to be materialized, especially in the mining and ports sectors, where they “have taken their natural course”, thanks to the establishment of partnerships with “pioneer” dealers in these fields.

As for facilitating customs procedures, Mr. Benabderrahmane explained that in order to take care of the concerns of economic operators, the customs sector will be provided with a new information system, which is the product of a partnership with the Koreans, acknowledging at the same time the need for an “urgent plan to develop work methods.”

Regarding the policy of support, “which has sparked widespread controversy among parliament and public opinion recently,” the Prime Minister, Minister of Finance, affirmed that “this great confusion that occurred recently was caused by some parties,” as stated in the report.

With regard to the issue of food security, the Prime Minister affirmed that this goal has been included among the government’s priorities, reviewing the number of goals it seeks to achieve in this regard, including the revival of the gene bank that was established in 1985.

Regarding the closure of the dry ports, the Prime Minister, the Minister of Finance, affirmed that this measure is “final,” explaining that “this activity often constituted a cover for illegal transfers of hard currency, or the import of non-conforming goods.”

It is worth noting that the presentation of the preliminary report of the commission was preceded by a presentation by the Prime Minister and the Minister of Finance regarding the presentation of the Finance Draft Law 2022.

dzbreaking