Small and Medium-sized companies’ minister to Echourok: Government to discuss new measures to facilitate bond credits

Talking at “Echourok Forum” the small and medium -sized companies’ minister Mustapha Ben Bada has put the veil off series of measures for acquiring credits, asserting that the government will pronounce on the matter before the end of the current month during cross ministerial meeting chaired by the Prime Minister Ahmed Ouyahia.

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• The minister has indicated that the government has always worked for the common-interest and that the bond debts were the best way to impose a sort of control over foreign trade. He further added that the government regards this procedure as tool in the hand of the Algerian operators that will enable them to negotiate on sound basis.
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• The guest has indicated that the government will examine the proposal related to the reducing of time required for the study of the requests and determine fixed deadlines known for all the operators. A One-Stop Shop designed for the collection and the study of the requests is among the proposals to be discussed by the government.
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• M Ben Bada has revealed that the implementation of the bond-debts procedure is part of an overall strategy designed to curb the export bill that surpassed $ 40 billions last year in addition to the irregularities that surrounded the transfer of hard currency amid a total lack of financial records during the bank transfers.
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• The minister has indicated that the Algerian authorities have set up the appropriate means to upgrade some 20 thousand small and medium-sized companies over the coming five years, adding that the operators have to adapt to the new economic reality of the country to meet the international standards.
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• He has insisted on the fact that the protectionist policy will not be in force in the coming few years on account of the different bilateral and multilateral accords signed between the Algerian authorities and its partners including the European Union and the Arab Free Exchange Zone.
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•  M Ben Bada has indicated that the decision made by the Algerian authorities to boycott several Arab goods was designed to pave the way for the integration to the Arab Free Exchange Zone and that Algeria has simply used its right stipulated in one of the provisions following the example of several Arab countries that used this right to protect the emerging industries.
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