Meta Description: Yacine El-Mahdi Oualid, Minister of Knowledge Economy, Startups, and Micro-Enterprises, unveiled plans to launch the National Entrepreneurship Agency in early 2023. This initiative aims to bolster entrepreneurship among young creators in Algeria.
In an exciting development, Yacine El-Mahdi Oualid, the Minister of Knowledge Economy, Startups, and Micro-Enterprises, revealed in Algiers that the National Entrepreneurship Agency and its accompanying platform will be launched in January 2023. This strategic move aims to promote entrepreneurship opportunities for young aspiring entrepreneurs in Algeria.
Addressing the Entrepreneurship Days, held under the auspices of the Algerian Economic Renewal Council (CREA) during Global Entrepreneurship Week, and with the presence of the Minister of Higher Education and Scientific Research, Kamel Baddari, Mr. Yacine El-Mahdi Oualid emphasized that “a national portal and a National Entrepreneurship Agency will be inaugurated early next year, opening doors for numerous young individuals engaged in lucrative activities outside the formal framework to integrate into the formal economy.”
He further explained that an entrepreneur’s identification card will be issued as part of this endeavor, facilitating the integration of a substantial number of entrepreneurs into the regulated economic landscape. This initiative will also introduce a “highly motivating and entirely distinct tax system from the existing one.”
This innovative framework will enable young professionals in the digital sector and social media influencers to actively participate in the economic sphere by providing online services and accessing social security benefits.
Additionally, as part of these measures, the minister mentioned a proposal within the 2024 budget law that entails reducing the tax rate from 5% to 0.5% for this category of entrepreneurs.
Mr. Oualid underscored that the primary goal in the entrepreneurship sector is to encourage genuine entrepreneurs, particularly within the academic milieu. This will be achieved through the establishment of support and entrepreneurship centers to assist young creators in realizing their projects.
He also highlighted the government’s commitment to removing obstacles that hinder entrepreneurs in establishing and developing their businesses. This includes collaborative efforts between the Ministry of Knowledge Economy, Startups, and Micro-Enterprises, and the Ministry of Higher Education and Scientific Research to promote the entrepreneurial spirit within universities.
The minister expressed satisfaction with the increasing interest shown by students, graduates, and Ph.D. holders across the country in entrepreneurship. This aligns with the government’s new policy aimed at supporting exceptional project leaders across all domains.
In this context, Mr. Oualid highlighted various mechanisms to support young entrepreneurs, including legal and regulatory assistance, funding through the Startup Fund, tax incentives for large companies to invest in startups, and the recent crowdfunding mechanism.
Regarding the objectives of these Entrepreneurship Days, Mr. Oualid emphasized their role in encouraging students to establish startups and foster innovation. He noted that legal frameworks have been established to promote entrepreneurial spirit and foster closer ties between large enterprises and startups, especially in financing and support.
In conclusion, the innovative entrepreneur plays a crucial role in diversifying the national economy.
Kamel Baddari, Minister of Higher Education and Scientific Research, emphasized the “strategic” nature of current cooperation and collaboration between the Ministry of Higher Education, various research centers, and the Ministry of Knowledge Economy to enhance the university’s role in economic development and employment.
Furthermore, he stated that President Abdelmadjid Tebboune has placed the university at the center of his priorities in the “New Algeria.” Algeria requires entrepreneurs capable of promoting the exportation of innovative products and diversifying the national economy.
Mr. Baddari shared measures taken by the sector to promote initiative and entrepreneurship, including the establishment of 98 business incubators to support students with new projects, as well as monthly gatherings of students and investors. He assured that the university’s doors are always open.
He also emphasized that the sector’s agenda for the period 2024-2029, set to be published soon, will transform the Algerian university into an innovative and civic institution, positioning it as a “driving force for the national economy” to contribute effectively to economic development.
Kamel Moula, President of the Algerian Economic Renewal Council (CREA), also highlighted the role of universities, associations, and business incubators in nurturing entrepreneurship and innovation among young people. He praised Algeria’s progress in higher education since independence, enabling young Algerians and graduates to acquire the necessary knowledge to contribute to socio-economic development.
As of now, Algeria boasts over 5.6 million university and higher education graduates, representing an exceptional human resource. Moula emphasized that “entrepreneurship is the foundation of competitiveness and the construction of a economically strong Algeria.”
He noted that more than 250 student project leaders, selected based on their innovation skills, are participating in these Entrepreneurship Days. At least 70 projects from the pool of participants will be chosen and supported by economic operators.
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