In a significant move towards strengthening Algeria’s strategic sectors, President Abdelmadjid Tebboune, the head of state and the chief commander of the armed forces, chaired a cabinet meeting today. Algerian Cabinet Meeting Outcomes
The agenda covered a range of pivotal issues, including the draft law regulating mining activities, proposals for opening up the capital of two public banks, and the procedures for allocating industrial land for investment projects. The meeting also evaluated the compensation process for fishermen affected by the Tipaza floods.
Following President Tebboune’s opening of the cabinet meeting, the Prime Minister presented a report on the government’s activities over the past two weeks. President Tebboune then issued directives aimed at enhancing various sectors:
On Mining Activities Regulation:
- President Tebboune emphasized the strategic importance of the mining sector in Algeria. He directed the government to postpone the ratification of the draft law to allow further enrichment and involvement of specialists and experts. This delay aims to prepare for opening the sector to Algerian operators, particularly as the country experiences a dynamic in its new industrial fabric capable of exploiting and enhancing the sector’s productivity as part of national development.
On Opening Capital of Public Banks:
- The President stressed the importance of modern management practices in the process of opening up the capital of two public banks – Algerian Popular Credit and Local Development Bank. This initiative aims to involve the private sector in managing these significant financial institutions, fostering a competitive environment that benefits the bank’s customers.
- The capital opening of these banks is expected to stimulate investment and the job market, transforming these institutions into models of high-quality and effective financial services.
On Allocation of Industrial Land for Investment Projects:
- President Tebboune instructed the government to introduce more facilitations within the operating system of the agency responsible for allocating this type of land, aiming to combat corruption and bureaucracy and ease the processes for economic operators.
- The new National Investment Agency should provide and manage industrial land pockets, whether from the private or public sector, with a vision of real economic feasibility to accelerate investment.
On Compensation for Fishermen Affected by Tipaza Floods:
- The President reaffirmed the state’s commitment to supporting citizens whose properties are damaged under exceptional circumstances caused by natural disasters, emphasizing the state’s unwavering principle of solidarity.
- Following the resolution of this issue, the President ordered the creation of legal mechanisms to ensure future handling of such situations, particularly through insurance companies and relevant supervisory bodies.
The cabinet meeting concluded with the approval of decrees concerning appointments and terminations of senior positions in the state.
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