Industry Minister: “A New Investment Law For October, Cars’ Specifications Are Ready”

A new investment law will be ready next October and it will include facilities and privileges for investors in the public and private sectors, Industry Minister, Farhat Ait Ali Braham, said.

“The specifications and decrees for organizing the cars’ market are ready”, he added.

Farahat Ait Ali explained in his intervention during the government-governors meeting that was held on Wednesday at the Palais des Nations, that the drafting of the new investment law is about to be completed, and that it will be presented to the cabinet during the next social entry.

In this context, the minister considered that the current investment law, which came into effect in 2016, does not contain any concessions or incentives for local producers, while the new law will be characterized by the unification of the two legislative systems that govern activity in the public sector and the private sector.

The minister stated in this regard: “The private sector enjoys the freedom to operate without financial support, while the public sector enjoys the support of the public authorities, but without flexibility and freedom of internal management. We will propose reforms that would reduce this discrimination and formulate a new joint system based on the principles of commercial law”.

Regarding the industrial real estate file, the minister said that his services are preparing for a new decree that defines the tasks and powers of the National Bureau of Industrial Real Estate, and other texts related to the follow-up and management of industrial real estate while distinguishing it from other types of public real estate.

In this context, he considered that the industrial sector was the most targeted sector by the “gang”, whether at the legislative, organizational or internal management level, in addition to the fictitious projects that came at the expense of real projects, while he explained that the car’s specifications are ready and that there are 5 executive decrees that are ready in this framework.