Algeria: Industry sector in “high alert” to cope with adverse impact of oil crisis

The draft of the country’s investment code has been carried through while an in-depth reform is being undertaken with the aim of bolstering Small and Medium-sized Enterprises’ support agencies, Algerian Minister of Industry and Mines Abdessalem Bouchouareb asserted on Sunday.

Replying to a question about the content of the draft, the Minister who granted an interview to the APS news agency, stopped short of providing any details explaining that he reserves the rule of announcing the new provisions of such a draft document to the Council of the government itself.

Mr Bouchaoureb added the document focuses on four (4) key components relating respectively to the easing of procedures, the appropriateness  of the system of incentives and economic policy, the adjustment of the foreign direct investment regulatory framework (FDI) and the review of the status and tasks of the National Agency for Investment Development (ANDI).

Indeed, he stated, “ANDI has to retrieve the essence of its role designed primarily to spur the investments required to further boost the national economy.

In addition to the amendment of the Investment Code, enacted in 2001 and amended a dozen times, a set of texts and provisions must be “improved and sustainably stabilized,” says Bouchouareb.

The minister announced, in this connection, a revamping of the framework law of the SME and a reform of agencies supporting SMEs, the National Agency of Small and Medium-sized Enterprise Development (ANDPME) and ANDI was launched.

In addition to these activities, arrangements are being examined with a view to giving a fresh impetus to the SMEs competitiveness and helping those innovative and “oriented towards excellence,” he added.

The ministry is studying the issue of funding SMEs which requires, according to Mr Bouchouareb, proper mechanisms and specific instruments.

The development of subcontracting is included among the priorities of the sector through “a strategy meant to support subcontracting in the start-up phase to facilitate its development by encouraging international partnerships and help them take over new profit-yielding markets,” he underscored.

The relevant Draft investment code is slated to be submitted to the National People’s Assembly (Lower House of Parliament) in February or in March 2015 at the latest.