ALGIERS – Sunday, 19 November 2023  (APS) – The speech made by the President of the Republic Abdelmadjid Tebboune on Thursday, in Algiers, in a meeting with the economic operators gave them fresh hope and reassured the entrepreneurs, said Abdelouahed Kerrar, vice-president of the Algerian Economic Renewal Council (CREA).

Speaking to the Algerian Radio, Kerrar affirmed that “the speech of the President of the Republic, made on the occasion of the wrap-up of the Global Entrepreneurship Week, is a speech of hope with regard to the human and natural resources that our country possesses,” stressing that “serenity and trust are essential for the economic development.”

The decision to freeze the activities of the committee on overbilling was welcomed by Kerrar, affirming that “the decision to stop this committee was warmly applauded by all the participants. It is a decision that really gave them trust.”

For him, it is also “a very strong message of the President of the Republic to the economic operators.”

The other presidential decision that was welcomed by the heads of companies concerns the promulgation of the new law on the economic land coming under the State’s private domain, he said, pointing out that “this law will revitalize many companies that have been waiting for it to execute their projects.”

Underlining that the country “is on the right path” in terms of economic decisions, Kerrar also welcomed the efforts made by the public authorities, particularly in terms of stabilizing texts on investment for a period of 10 years, stressing that this move meets the expectations of the employers’ organizations.

As regards the celebration of the Global Entrepreneurship Week in Algeria, Kerrar highlighted the capacities of young Algerians who presented, he said, “innovative and ambitious” projects, while underlining that “the members of the diaspora, some of whom weren’t born in Algeria, took part in this event to show their attachment to the country and to share their experiences with the students established in Algeria.”

Kerrar underlined the capacities of the Algerian pharmaceutical industry to meet the national needs and to contribute to non-hydrocarbon exportation.

“Algeria is among the first countries in the region that managed to meet 70% of its local needs in medicines through the local production, while some countries that have an industry dating back to the 1950s meet their national needs up to 50%,” he said, stressing that “the country can become a major regional player of the pharmaceutical industry.”