Algeria: starts-up to get quota on public projects

A ministerial council held Wednesday came up with approving new measures in favor of people who want to establish their own enterprises. Starts-up will have their quotas on different public projects. Loans acquisition will be facilitated and their deadlines will be extended. Industrial properties will be offered at symbolic dinar in 30 provinces.

The quotas allocation are part of the government’s endeavor to revivify small and medium-sized enterprises project which is seen as an alternative to get free from hydrocarbons dependence.

According to sources at the government, the minister of industry and small and medium-sized enterprises Cherif Rahmani presented an assessment report about the SMEs’ situation.

He said the situation is not good enough as planned objectives were not achieved though the government had taken measures to reduce unemployment such as taxes reduction and debts lifting.

The government is working on a project to create 200,000 new SMEs by 2014. It considers the possibility of facilitating loans acquisition, extending their deadlines, offering industrial property at symbolic dinar in 30 provinces and allocating quotas for starts-up.

A total of 386 billion Algerian dinars are allocated to support SMEs in attempt to improve their competitiveness as part of the National Program of Upgrading 200,000 SMEs.

This program offers direct aids to SMEs by reducing interest rates on loans. The SME Credit Guarantee Fund was created to guarantee investment loans.

The ministers discussed the government’s project to create 43 industrial zones and its impact on investments promotion. A total of 88 billion Algerian dinars are allocated to this project.

These projects are part of the government’s strategy to generalize industrialization in the country by looking forward productive industries and speeding up new investment projects accreditation processes.