President Tebboune Asserts Algeria’s Unyielding Sovereignty, Pledges Economic Reforms

BY: Hana Saada

ALGIERS- In a resolute declaration, President Abdelmadjid Tebboune proclaimed, on Thursday, that “no force in the world can exert pressure on Algeria,” emphasizing that the country has reached a point of no return in fiercely defending its sovereignty. Speaking at the closure of the Entrepreneurship Days organized by the Algerian Council for Economic Renewal (CREA), President Tebboune assured that, except for divine power, external forces hold no sway over Algeria.

President Tebboune affirmed the state’s commitment to cracking down on any form of misconduct that has burdened the national economy in the past, costing billions to the public treasury. He highlighted the challenges overcome in addressing economic deviations and criticized entities attempting to tarnish Algeria’s image abroad, asserting that such groups represent a minority. He reassured entrepreneurs that the country is moving forward, and no external pressure can impede its progress.

President Tebboune specifically addressed the recent disbandment of the importation commission, emphasizing the nation’s shift towards building a robust economy through collaboration with friendly nations. He stressed the importance of gradually replacing imports, aiming to create a powerful, self-sufficient economy.

President Tebboune’s Economic Vision for 2024

At the same event, President Tebboune expressed the state’s dedication to continuing the improvement of the business environment and enhancing the performance of both public and private enterprises. He declared 2024 as another significant economic year, following the measures implemented over the past three years across various economic sectors.

President Tebboune discussed the elimination of the Value-Added Tax (TAP), outlined in the 2024 budget proposal, as a response to demands from national operators and investors, anticipating a positive impact on production. He underscored the government’s efforts to expand incentives for investors and entrepreneurs, aiming to reduce bureaucratic obstacles and stimulate economic activity.

The President highlighted the successful resolution of land-related issues through the Economic Land Law, ensuring a definitive solution for project developers. He urged the swift implementation of state decisions, emphasizing the importance of building a productive and diversified economy based on exports and supported by the SME sector.

President Tebboune’s Emphasis on Start-up Development

President Tebboune emphasized the development of start-ups in Algeria. Acknowledging the potential of young Algerians, particularly those involved in innovative projects and start-ups, he expressed the country’s aspiration to be a pioneer in the field at the continental level.

Recognizing the youth as the driving force for socio-economic development, President Tebboune applauded the achievements of Algerian start-ups and their creative spirit. He called upon relevant authorities, businessmen, and the CREA to support and mentor young entrepreneurs, asserting that micro-enterprises are now the driving force behind the country’s socio-economic development.

President Tebboune highlighted the improvement in Algeria’s continental ranking for start-ups, attributing it to the numerous measures taken in the past three years to enhance the entrepreneurship and innovation ecosystem. He stated that with this progress, Algeria aims to be among the international leaders in the startup domain.

President Tebboune assured that the doors are open to receive all grievances, either at the presidential or governmental level, reinforcing the government’s commitment to creating a favorable business environment and supporting economic growth.