Algeria: President Tebboune Calls to Speed Up Implementation of New Economic Model

Algiers — President of the Republic Abdelmadjid Tebboune called Sunday in the Council of ministers to take practical measures to speed up the implementation of a new economic model based on development diversification and knowledge economy.

“President Tebboune insisted on taking practical measures to speed up the implementation of a new economic model based on the diversification of development and knowledge economy, in addition to a new industrialization policy steered towards small, medium and emerging industries, pointing out the importance of giving the priority to the products with high integration rate,” said the communiqué of the Presidency of the Republic.

“This industrial policy will allow reducing the import bill and creating jobs,” added President of the Republic.

Speaking after the presentation by Minister of Industry and Mining Ferhat Ait Ali Braham on the state of his sector, President of the Republic ordered to make an inventory of all unexploited national natural resources to “strengthen our export capacities, offset lower hydrocarbon revenues and preserve this wealth to the coming generations,” said the source.

Commenting on this presentation, President of the Republic affirmed that the assessment must be based on real facts to come out with a clear vision of what we want to achieve.

Unfortunately, he lamented, this reality shows that we haven’t managed, to date, to produce locally at 100% a television or a refrigerator while Algeria possesses scientific experts in several fields. Experts who have shown their potential in our collective fight against the spread of the coronavirus pandemic, added President Tebboune.