Algerian President Abdelmadjid Tebboune said on Saturday that Algeria would launch new reforms to boost the industrial sector for economic recovery.
At the opening ceremony of the national conference on industrial revival, Tebboune said: “The time has come to establish an industrial sector founded on a coherent and solid foundation which serves national interests, and becomes one of the pillars of a comprehensive and sustainable national development. In the capital, Algiers.
The conference, placed under the theme “Meeting the challenge together”, aims to develop a strategic vision for the industrial sector and to mobilize the actors concerned around the objectives of economic recovery.
Tebboune said Algeria’s industrial sector is still underdeveloped, contributing only 5% of GDP, adding that the main challenge for the government is to increase the sector’s contribution to GDP to 15% in the short term.
A recent report from the International Monetary Fund noted that Algeria has “many untapped sources of growth and jobs”, but that “developing them requires a deep transformation and diversification of the economy away from hydrocarbons”.
