President Abdelmadjid Tebboune has reaffirmed the state’s commitment to continue supporting both national and foreign investors and to simplify investment procedures, with a stronger push for non-hydrocarbon exports.
In a special broadcast on Algerian television on Thursday evening, highlighting the President’s inauguration of the 55th Algiers International Fair earlier this week, President Tebboune reiterated the state’s determination to assist project owners and industrial enterprises in expanding their investments, particularly in electronics, iron and steel, and food industries.
During his discussions with several company representatives at the fair, the President praised the significant progress made by the national industrial sector, especially in increasing national integration rates in recent years. He also emphasized the public authorities’ readiness to incorporate solutions and innovations proposed by start-up companies.
At the Algerian Investment Promotion Agency’s pavilion, President Tebboune stressed the need to “accelerate and facilitate investment procedures,” urging agency officials to pay special attention to several provinces such as Saida, Djelfa, Laghouat, and Khenchela in easing the establishment of investment projects across various sectors.
According to a report presented on the occasion, the agency has registered approximately 7,500 investment projects, including 129 projects by foreign operators, with a total value of about 3,500 billion dinars.
In the food industry sector, President Tebboune reviewed projects by the “Cevital” group in the field of oilseed and sugar beet cultivation, emphasizing the goal to “produce at least 2.5 to 3 million tons of oilseeds to lift restrictions on edible oil exports.”
The President also urged the group to invest in oilseed crop farms in Adrar, In Salah, El Bayadh, and Ouargla to help ensure national food security, highlighting the importance of model farms’ contribution to agri-food industries.
In the industrial sector, President Tebboune expressed satisfaction with the integration rates achieved by the “Condor” group in home appliances and electronics, particularly smartphones, which range “between 40 and 80 percent.”
Regarding the iron and steel industry, the President emphasized the importance of this industrial sector in boosting the country’s non-hydrocarbon exports during his visit to the pavilion of Tosyali-Algeria, a mining company. He stated, “We will work to ensure that our iron and metal sheets enter Europe, and we will hold discussions with the European Union in this regard.”
According to explanations provided during the visit, the company’s products are expected to reach “5 million tons next year, with a goal of 3 billion dollars in exports.”
In the railway infrastructure sector, President Tebboune reiterated the “strategic and urgent” nature of railway line projects in southern Algeria, particularly the mining lines of Gara Djebilet-Tindouf and Blad El Hadba-Annaba.
At the National Agency for the Studies and Monitoring of Railway Investment’s pavilion, the President noted that a second phase of railway line projects would be launched towards El Menia, Adrar, In Salah, Tamanrasset, and Reggane.
The President also highlighted the significance of the decision to establish a new railway engineering and construction group, announced recently, indicating that Algerian companies now master the technologies for building bridges, tunnels, and laying tracks.
President Tebboune also visited the military industry institutions affiliated with the Ministry of National Defense, where he reviewed the latest achievements of these leading institutions, including the 100% Algerian-designed sniper rifle and the drone system “Algerian Falcon 1.”
According to the explanations provided, the drone system is entirely Algerian in terms of design, manufacturing, and certification, and the expertise gained enables the institution to develop various sizes of these drones.
The Algiers International Fair, which continues until next Saturday at the Exhibition Palace – Maritime Pine, Algiers, features the participation of about 700 national and foreign exhibitors representing 32 countries.
This economic event, held under the high patronage of the President of the Republic and affirming its status as the most significant national economic event annually, is themed “Bridges of Exchange and Opportunities for Partnership and Investment,” with Turkey as the guest of honor.
supporting investment
