ECONOMY

The President of the Republic Abdelmadjid Tebboune affirms support to job-creating projects

ALGIERS- President of the Republic Abdelmadjid Tebboune affirmed Sunday, in Algiers, his support to the national productive projects through advantages and incentives in return for the creation of jobs.

The fiscal incentives and advantages granted by the State must result in the creation of jobs, said President of the Republic at the opening of the 28th National Production Fair.
“The unemployment rate must be reduced. This can only be done through real productive projects that create jobs and not illusory wealth,” he underlined.

This event aims essentially to showcase the production capacities of national companies and their ambitions within the framework of the new growth model of the Algerian economy.

Affirming that “2020 will be a different year for the economic operators provided that they extend their activities, give a new boost to the national economy and create jobs, Tebboune stressed the need to encourage the exportation of the national product.

Promoting the exportation of the national products is the only way to diversify the national economy and end the dependence on hydrocarbons, he said, adding, in this respect, “we have learnt how to buy not how to sell and to Import not to export … We can’t continue on this course, the trend must change.”

While inspecting the pavilion of agri-food products, Tebboune stressed the need to protect these products, pointing out that trade agreements, notably with the European Union, provide for clauses that enable taking measures to protect the national products.
In this respect, President of the Republic “prohibited the exportation of seasonal fruit and vegetables,” affirming that “the resort to imports will be done as an exceptional measure in the case the national production fails to meet the demand of the domestic market.”

At the pavilion of military industries, President of the Republic called on the industrial operators to draw inspiration from the military industry in terms of integration rate, patriotism, commitment and reliability in the industrial recovery process.
In this respect, he lamented the fact that some operators wasted, for years, huge financial resources (national and foreign currency) without any results.

“Some projects can’t be considered as industry, because it is only a masked importation,” he said, calling to “reexamine import processes” and to “deal with some immoral practices marring this operation.”
At the pavilion "Algéria Innov,” devoted to startups, President Tebboune announced the creation of a ministry devoted to startups and micro-businesses, in addition to a bank to follow-up and support young project holders and incubators in the country’s major cities.

Concerning the housing sector, Head of State called to speed up the execution of projects while granting importance to the quality of houses, ordering the rapid settlement of the situation of subscribers who have been waiting for their houses for long time.
While visiting the pavilion of pharmaceutical industries, President of the Republic called on the public Group Saidal to increase its share in the national market by at least 30 to 40%, affirming that it is imperative to meet the national needs in terms of basic medicines, notably maternal and child health.

President Tebboune ordered to reopen all the unexploited terminals nationwide to revitalize the domestic air traffic.
This Fair was marked by the launch of an awareness campaign against the waste of bread. In this respect, Tebboune said that it is “unacceptable” that Algeria imports wheat to waste bread, adding that it causes huge loss in foreign currency.