BY: Dr. Hana Saada
Algiers, Algeria | December 20th, 2024 — During the inauguration of the 32nd National Production Fair on Thursday, President Abdelmadjid Tebboune lauded the remarkable strides made by Algeria’s burgeoning startup sector. He emphasized the pivotal role of young entrepreneurs in fostering a robust, ethical, and knowledge-based economy, setting the stage for a transformative era of innovation and global collaboration.
Startups: The Cornerstone of Algeria’s Economic Future
Highlighting the nation’s entrepreneurial spirit, President Tebboune revealed ambitious plans to bolster the number of Algerian startups from 9,000 to 20,000, underscoring their critical role in shaping the country’s future. “I believe in startups because they are the future of our nation. Algerians are creative and excel wherever they go,” he affirmed.
To propel this vision forward, the President directed immediate action to facilitate partnerships between Algerian startups and international collaborators. He also urged large domestic companies to play an active role in financing startup projects, shifting the primary funding burden from the state to the private sector. “True investment lies in knowledge,” Tebboune remarked, encapsulating his vision for a knowledge-driven economy.
Promoting Domestic Production and Reducing Import Dependency
President Tebboune reiterated his commitment to safeguarding Algerian products by gradually reducing imports. He announced plans to phase out the importation of brake pads starting in 2025, capitalizing on the success of a private Algerian company that already meets domestic demand in this sector.
Revitalizing the Pharmaceutical Sector
Turning his focus to pharmaceuticals, the President underscored the importance of restoring the prominent role of the state-owned Saidal Group. He emphasized its capacity to increase the production of essential medicines while maintaining healthy competition with the private sector. Tebboune called on medical professionals to prioritize prescribing locally available medications, reinforcing Algeria’s drive for self-sufficiency in healthcare.
Water Security: A Priority for Sustainable Development
Addressing Algeria’s critical water needs, President Tebboune provided an update on the construction of five seawater desalination plants. He instructed that these plants begin phased water distribution by February 2025, ensuring potable water access across major cities before the holy month of Ramadan.
The President commended the Algerian Energy Company (AEC), a Sonatrach subsidiary, for its expertise in executing desalination projects. This initiative, he stated, represents a cornerstone of Algeria’s strategy to mitigate water shortages and secure sustainable resources for future generations.
Integrating Mining and Infrastructure for National Growth
At the stand of Sonarem, the President emphasized the importance of advancing mining projects in tandem with railway developments and the mineral port terminal in Annaba. These integrated initiatives aim to unlock the potential of Algeria’s rich natural resources and position the country as a key player in the global mining industry.
A Roadmap for a Prosperous Algeria
President Tebboune’s directives at the 32nd National Production Fair underscored his administration’s unwavering commitment to fostering innovation, enhancing self-reliance, and addressing critical challenges such as water scarcity and industrial modernization. By empowering startups, encouraging private sector engagement, and prioritizing strategic sectors like pharmaceuticals and mining, Algeria is charting a path toward sustainable and inclusive economic growth.
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