Experts: The President of the Republic’s speech draws a road map to move forward with the new economic model – Algerian Dialogue

Economic experts confirmed today, Monday, that the President of the Republic, Mr. Abdelmadjid Tebboune, and through his speech yesterday, Sunday, before Parliament, laid out a road map to move forward in the effort to diversify the economy through the new economic model, highlighting the importance of the messages included in the speech, which lies in the fact that it drew “ “Milestones” is an economic policy aimed at bringing the country to the ranks of emerging countries.

The experts highlighted, in their speech to Wag, that Algeria is on the “right path” within the framework of this model that aims to build a diversified economy supported by “political will from the President of the Republic in the field of economic liberalization and investment,” stressing that among the pillars of this model is supporting exports outside of hydrocarbons, which Algeria has made “great strides.”

In this regard, the expert and economic advisor, Abdelkader Soleimani, noted the importance of the President of the Republic’s speech in shaping the country’s economic policy and model with the aim of elevating Algeria to the ranks of emerging countries by stimulating investment within the framework of the new law that established, for the first time, a stable legislative basis.

Mr. Soleimani also noted the results recorded by Algeria as a result of the efforts made during the past few years in the mining sector, “as Algeria will become in the medium term, as indicated by the President of the Republic, an exporter of iron after the completion of the Bashar Gara Jbeilat railway line and linking this line directly to the port of Oran within 2026.”

The expert pointed out the “important space” that the President of the Republic allocated, in his speech, for the country’s food security and everything that would contribute to its realization, such as expanding irrigated lands while setting the goal of reaching 3 million hectares as irrigated areas and the seawater desalination program in parallel with urging to strengthen Use filtered waste water to reach a coverage rate of 30 percent in the future.

Mr. Soleimani pointed out that the legal framework and accompanying institutional structure allowed, in a short time, the registration of no less than 11,000 investment projects, including many projects for foreign investors, not to mention the creation of emerging institutions, the number of which jumped in a short period.

The development of industry and the revival of investment: a radical transformation in the Algerian economy

For his part, Muhammad Ashir, a lecturer in economics, stressed that “the national economy is experiencing a radical transformation,” pointing out that this transformation can be felt in “macroeconomic indicators, especially the significant growth rate and the continued trend towards diversifying the economy and stimulating investment in many strategic sectors.” Similar to agriculture, mining resources, and industry with all its branches.”

The spokesman added that the President of the Republic, through his speech, “drawn a road map to diversify the national economy with a focus on the industrial sector with all its divisions through various incentives,” highlighting the strides made by the country in the field of industry and the remarkable progress recorded in the field of manufacturing and mechanical industries, as well as military industries.

Mr. Achir considered that Algeria is “on the right path” within the framework of this model aimed at diversifying the economy, a trend supported by “a political will on the part of the president in the field of liberalizing the economy and investment by removing bureaucratic obstacles and digitizing administration.”

He explained that the facilities approved by the legislative and institutional framework regulating investment and the business climate “largely facilitated obtaining the advantages of investment and economic real estate, which reflected positively on the attractiveness of the investment environment in Algeria and raised the competitiveness of the Algerian product, especially when exporting.”

In turn, Professor of Economics, Ahmed Haidousi, highlighted that the new economic model is based on a number of foundations, including the liberalization of initiatives, especially through the investment law, which removed the obstacles faced by project owners in all sectors in previous years, which reflected positively on the movement of establishing institutions.

In the same vein, he stated that the public authorities, as the President of the Republic emphasized, “are focusing on important sectors and activities that will accelerate the growth of the Algerian economy, improve its performance, and raise it to the ranks of emerging countries.”

In the same regard, he praised the status that the industrial sector has acquired, especially the manufacturing, mechanical, and mining industries, after previously contributing “a marginal percentage to the country’s gross domestic product,” noting “the special importance that the President of the Republic gave in his speech to this sector and its role in Getting out of dependence on hydrocarbons, as it is an important tributary to the treasury, especially in terms of export.

He also pointed out “the strategic nature of the accompanying projects, such as the renewal and expansion of ports and, in particular, railway projects.”