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Diversification of economy, focus of discussions between Bouchouareb and President of AfDB

 

ALGIERS- The reforms made by Algeria to develop and diversify its economy were the focus of discussions between the minister of Industry and Mining, Abdessalem Bouchouareb and the President of the African Development Bank (AfDB), Akinwumi Ayodeji Adesina, said the ministry Thursday in a communiqué.

During this meeting, the two parties discussed economic reforms in Algeria, particularly the adoption, Wednesday of the bill on standardization, the revision of the investment code, which will be adopted in the weeks to come, the development of national industry through the adoption of a new law on SMEs (small, medium-sized business) as well as the monitoring of the actions undertaken in partnership with the World Bank (WB) for the improvement of business climate.

The discussions also focused on the development of public and private Algerian companies, particularly within the framework of the provisions of finance laws LF 2015, LFC 2015 and LF 2016.

During this meeting, sectors and industries were identified as having a potential for substituting imports and thus, as part of a study conducted in collaboration with the AfBD said the communiqué, underlining that the Bank contributes to this economic diversification approach through another project dedicated to the support of SMEs.

Bouchouareb stressed the “very important” role of strengthening regional integration, as an engine of growth, through a diplomatic action advocating the sovereignty of States.

 

Thursday, 21 April 2016

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