Algiers, Algeria – The National Agency for the Support and Development of Entrepreneurship (NASDA) signed a series of agreements with various economic bodies and institutions in Algiers today. The move underscores NASDA’s commitment to bolstering subcontracting as a key driver of economic growth.
The agreements, finalized in a ceremony held in the capital, aim to create a more robust and supportive ecosystem for subcontracting businesses. NASDA officials emphasized the crucial role of these partnerships in facilitating access to resources, expertise, and market opportunities for small and medium-sized enterprises (SMEs) operating within the subcontracting sector.
“These agreements represent a significant step forward in our efforts to promote a vibrant and competitive subcontracting landscape in Algeria,” stated a NASDA spokesperson. “By collaborating with key players across various sectors, we can unlock the full potential of subcontracting to stimulate innovation, create jobs, and enhance the overall competitiveness of the Algerian economy.”
The partnerships are expected to streamline processes for SMEs seeking to participate in subcontracting arrangements, providing them with improved access to funding, training programs, and technical assistance. Furthermore, the agreements will facilitate greater collaboration between large corporations and smaller businesses, fostering mutually beneficial relationships that contribute to economic diversification.
NASDA’s initiative aligns with the government’s broader strategy to diversify the Algerian economy and reduce its reliance on hydrocarbons. By promoting entrepreneurship and supporting the growth of SMEs, NASDA aims to create a more resilient and sustainable economic future for the country. The agency plans to announce further initiatives in the coming months to build on the momentum generated by these agreements.
