Haddad: “I am for Sonatrach and Sonelgaz’s capital opening”

Chairman of the Enterprises Chiefs’ Forum Ali Haddad defended Article 66 of the Financial Act 2016 as it opens public enterprises to national capital.

“Since I was elected at the head of the Forum, I have called for reactivating Article 31 of the Constitution. It stipulates investment freedom in all the sectors. Article 66 of the Financial Act 2016 is good and not harmful,” Haddad told journalists in Algiers on Wednesday.

“Article 66 encourages investment. I am for the opening of Sonatrach, Sonelgaz and big companies capital. I do not see any negative thing if there is someone who can positively contributes in hydrocarbons sector,” he added.

He believes that it is time to give the chance to private enterprises which encourage hard work and new actions. “All the sectors should be opened to private investors without exception.”

Speaking about $260 billion invested by Algerian businessmen in the US, Haddad said the change reserve fund only contains $150 billion. “How can we have $260 billion?”

He also said US media did not understand Algerian officials’ remarks. “I was not there on that day. I did not make any statement as I had a flu.”

According to Haddad, the Enterprises Chiefs’ Forum includes 2,000 companies and invests $35 billion. “Its aim is to work hard to boost national economy,” he said.