Minister of Industry Ali Aoun Castigates Speculators, Vows to Ensure Transparent and Productive Industrial Investments
BY: Hana Saada
ALGIERS- In a stern address to the public, the Minister of Industry and Pharmaceutical Production, Ali Aoun, has condemned speculators who have been exploiting land intended for investment, causing delays in the enactment of crucial legislation. Aoun’s remarks came during his working visit to the wilayas of Ouargla and Touggourt, where he emphasized the government’s commitment to removing investment barriers, promoting productive industrial ventures, and revitalizing the national economy.
Cracking Down on Speculation
“Some investors who benefited from land bases were content to close them and wait for industrial land prices to increase in order to be able to resell them,” declared Minister Ali Aoun, expressing his strong disapproval of speculative practices on industrial land. He pointed out that such maneuvers had contributed to the protracted development and implementation of new laws designed to regulate this sector.
While castigating speculators, Minister Aoun also urged investors to exercise patience, assuring them that the new legislation governing industrial land would be fully operational within a week to ten days. This declaration served as a final warning to those seeking to exploit the system.
Removing Investment Barriers in Ouargla and Beyond
During his visit to Ouargla, Minister Ali Aoun commended the wilaya for its effective efforts in removing barriers to investment, ranking it at the forefront of regions actively working toward this goal. Following Ouargla, wilayas like Blida and Médéa were also acknowledged for their contributions to creating a favorable investment climate.
Furthermore, the Ministry of Industry expressed its unwavering commitment to address investors’ concerns as long as they remain objective and aligned with the nation’s economic interests.
Fostering Productive Investments
In Touggourt, where the Minister inaugurated a new unit for smelting and processing ferrous products in the commune of Témacine, Ali Aoun stressed the importance of such productive industrial investments. These ventures, he emphasized, have the potential to add significant value to the national economy, aligning with the government’s agenda to boost national exports and reduce the import bill. Minister Aoun highlighted that the development of the industrial sector hinges on the removal of constraints and the mobilization of mechanisms supporting investment activities, which, in turn, generate wealth and employment opportunities.
These objectives align with the top priorities of the new economic policy endorsed by the government. This policy aims to promote productive investment and drive industrial resurgence, ultimately facilitating the diversification of the national economy and fostering competitive local production, both in terms of quantity and quality.
A New Regulatory and Legislative Framework
Over the past two years, the government has been diligently working to alleviate bureaucratic and other constraints that impede investment. This effort has resulted in the creation of a new regulatory and legislative framework designed to favor project leaders and investors. The impending new law on land, set to come into effect in the coming days, is a prime example of these efforts.
As Minister Ali Aoun emphasized in a recent statement, the government’s objective in managing the industrial sector is crystal clear: “Do everything that can be done to remove the constraints faced by investors and ensure that it facilitates at best the act of investing.”
Notably, the new legislation concerning land intended for investment introduces numerous facilitations to benefit investors while also establishing transparent procedures for the allocation of state-owned land. This dual approach aims to strike a balance between encouraging investments and safeguarding the interests of the nation.
In conclusion, Minister Ali Aoun’ strong stance against speculators, combined with the forthcoming legislation, sends a clear signal that the government is dedicated to fostering productive investments, removing obstacles to economic growth, and ensuring that the industrial sector thrives in a competitive global landscape.
