Economic Operators Praise Tebboune’s Competitive Economy Vision
President Abdelmadjid Tebboune recently addressed economic operators, presenting a comprehensive vision for the national economy. His discourse highlighted significant advancements while also candidly acknowledging persistent challenges, with the overall aim of guiding a robust economic strategy. Economic operators responded positively to President Tebboune's directives, emphasizing the importance of his vision in fostering a resilient and competitive national economy, particularly through boosting non-hydrocarbon exports and fortifying the country against global economic fluctuations.
The President's address was widely regarded as a pivotal roadmap for achieving a strong and competitive economy, underscoring the central role of economic operators as essential partners in realizing national objectives. Figures such as Murad Wadah, President of the Renewable Energy Committee at the Algerian Economic Renewal Council, commended the speech for its frankness and realism, noting the President's confidence in operators as "actual partners." This sentiment was echoed by others like Karim Achour from the commercial vehicle sector, who stated the President objectively analyzed Algeria's economic reality and clearly defined achievable economic goals for 2027, backed by state-provided resources. Operators are encouraged to intensify national production, diversify the economy, increase non-hydrocarbon exports, and enhance national integration.
President Tebboune articulated that the national economy is undergoing a complete transformation from a managed to a free economy, aiming for a smooth transition without economic or social disruptions. He noted positive economic indicators, highlighting Algeria's recovery from its previous reliance on oil revenues and chaotic import policies, positioning the nation as Africa's third-largest economy with ambitions for further improvement. Significant strides have been made, including a reduction in imports by $40-42 billion, increased local production covering 84% of national medicine needs, and a 10% rise in industry's contribution to the Gross Domestic Product. The agricultural sector's contribution has also grown to 15% of GDP, with efforts towards achieving grain self-sufficiency by late 2027 and plans for an "Algerian car" by the end of 2028.
To further facilitate this economic momentum, the President highlighted important steps taken in investment, including the review of the legal framework and the establishment of 13,000 real investment projects. The pioneering National Single Investment Window, empowered to attract both national and foreign investments, is set to be fully operational from January 1 with the enactment of the 2027 finance law, demonstrating a clear commitment to streamline investment processes. President Tebboune reaffirmed that business leaders and economic operators are full partners in building the country's future, urging collective effort to boost non-hydrocarbon exports and ensure the nation's continued economic growth and social stability towards a strong economy by 2027.
