Council of Ministers Meeting: Official Communique

BY: Hana Saada

ALGIERS, November 26, 2023- President Abdelmadjid Tebboune, the Commander_in_chief of the Armed Forces and Minister of National Defense, chaired a Council of Ministers meeting on Sunday. The session focused on the draft law regulating mining activities and included presentations on various economic sectors, as per the official communique issued by APS:

Mining Activities Regulation Bill:

President Tebboune emphasized that mines are among Algeria’s strategic sectors, instructing the government to defer approval of the bill to further enrich it. He urged the involvement of specialists and experts in anticipation of opening mining activities to Algerian operators. The President highlighted the nation’s potential to exploit this wealth amid a dynamic new industrial landscape, enhancing profitability within the framework of national development.

Opening the Capital of Two Public Banks:

• President Tebboune emphasized the need to consider modern management methods during the capital opening of two public banks: Crédit Populaire Algérien (CPA) and Banque de Développement Local (BDL). The goal is to involve the private sector in managing these significant financial institutions, influencing economic decisions and creating a competitive environment beneficial to citizens as bank clients.
• Opening the banks’ capital aims to stimulate investment and employment markets, with these institutions serving as models for superior-quality services and efficiency in the financial sector.
• President Tebboune underscored the importance of placing banking system reform within a comprehensive and integrated approach, capturing funds circulating outside the banking system. He envisioned 2024 as the year of profound banking reform.

Conditions for Industrial Land Allocation:

• President Tebboune instructed the government to introduce more facilitations in the operation of the agency responsible for allocating industrial land, free from administrative complications. The objective is to combat corruption and streamline the missions of economic operators.
• He proposed including among the missions of the Algerian Investment Promotion Agency the suggestion of land plots from both the private and public sectors, ensuring their preservation and management within a truly economic vision to accelerate investment.

Evaluation of Compensation for Fishermen Affected by Weather Conditions in Tipaza:

• President Tebboune assured that the state would not abandon its citizens whose property was destroyed due to natural disasters. State solidarity remains a constant principle.
• Regarding the resolution of this issue, the President ordered the establishment of necessary legal mechanisms to ensure future coverage, especially through insurance companies and supervisory bodies overseeing these artisanal activities.

At the conclusion of the meeting, the Council of Ministers approved decrees on appointments and terminations in higher positions within the state.