On Sunday, the President of the Republic, Abdelmadjid Tebboune, chaired a meeting of the Council of Ministers, which discussed a draft law regulating mining activities, and offers regarding opening the capital of two public banks, and the conditions and methods for granting industrial real estate intended for the implementation of investment projects, in addition to evaluating the process of compensating sailors and fishermen.
The following is the full text of the statement of the Presidency of the Republic, regarding the decisions taken during this Cabinet meeting:
“Today, Mr. Abdelmadjid Tebboune, President of the Republic, Supreme Commander of the Armed Forces and Minister of National Defense, chaired a Council of Ministers meeting, which discussed a draft law regulating mining activities and offers related to opening the capital of two public banks, and the conditions and modalities for granting industrial real estate intended for the implementation of investment projects, in addition to evaluating the process of compensating seafarers. Hunters.
After the President of the Republic opened the Council of Ministers meeting, and then the Prime Minister presented the government’s activity for the last two weeks, the President gave the following orders, instructions and directives:
Regarding a draft law regulating mining activities:
Mr. President confirmed that mines are one of the strategic sectors in Algeria, directing the government to postpone the ratification of the draft law, with the aim of further enriching and involving specialists and experts, in preparation for opening the way for the Algerian customer in this banking activity, especially since the country is witnessing dynamism in the new industrial fabric and it is capable of To exploit this wealth and raise its returns within the wheel of national development.
Regarding a proposal to open the capital of two public banks:
The President of the Republic stressed that the process of opening the capital of the two public banks, the Algerian Popular Credit and the Local Development Bank, must take into account modern management methods, as the process aims to involve the private sector in the management of these important financial institutions, economic decision-making and creating a competitive, beneficial atmosphere. On our citizens who are bank customers.
The opening of the capital of the two banks should be a catalyst for investment and the labor market, so that these institutions become an example of financial institutions, with high quality and effective services.
The President of the Republic stressed that the reform of the banking system must be within a new, comprehensive and integrated vision that attracts funds outside the banking process so that the year 2024 is the year of deep banking reform.
Regarding the conditions and methods for granting industrial real estate intended for the implementation of investment projects:
The President of the Republic ordered the government to introduce more facilities within the work system of the agency specialized in granting this type of real estate, away from all administrative and bureaucratic complications, with the aim of fighting corruption and facilitating the tasks of economic operators.
The tasks of the new National Investment Agency should be to provide, preserve, and manage real estate enclaves, whether from the private or public sector, within a vision of real economic feasibility that accelerates investment.
Regarding the evaluation of the compensation process for sailors and fishermen affected by the Tipaza floods:
The President of the Republic affirmed that the state will not abandon its children whose property is being destroyed in exceptional, compelling circumstances caused by natural disasters, and that the solidarity dimension of the state is an established principle.
After referring to the settlement of this file, Mr. President ordered the creation of the necessary legal mechanisms to ensure that such cases are taken care of in the future, especially through insurance companies and bodies charged with supervising such craft activities.
The Council of Ministers will conclude its meeting by approving decrees that include appointments and termination of assignments to senior jobs and positions in the state.
2📸 #photo The President of the Republic, Abdel Majeed, presided #Tebboune @TebbouneAmadjid meeting #Council of Ministers. @AlgPresidency
🌐 Follow the meeting decisions here: https://t.co/RizAIqoDqa pic.twitter.com/e7ljsYd0kl
– Elikhbaria – News (@elikhbaria) November 26, 2023
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