President Tebboune Forecasts Algeria’s Non-Hydrocarbon Revenue to Surpass $13 Billion
BY: Hana Saada
ALGIERS- President Abdelmadjid Tebboune presided over the inaugural ceremony of the prestigious Medal of Honor for Export, held at the International Conference Center (CIC) Abdelatif-Rahal in Algiers on Tuesday.
In his opening address, the President announced the imminent establishment of a high council for exporters, aimed at fostering and promoting exports, especially to African nations.
President Tebboune emphasized that the introduction of a new air transport route connecting Algeria to various African countries is a key component of the government’s comprehensive strategy to bolster exports, particularly in the agricultural sector.
Furthermore, the President assured that Algeria’s non-hydrocarbon exports are poised to soar to an impressive $13 billion in the near future.
President Tebboune’s forward-looking vision underscores Algeria’s determination to unlock its vast potential beyond the hydrocarbon sector. By expanding and strengthening other industries, the nation aims to foster sustainable economic development, create employment opportunities, and enhance its global competitiveness.
Algeria’s pursuit of economic diversification is a strategic response to the challenges posed by fluctuating oil prices and the need to adapt to a rapidly changing global landscape. By reducing its dependence on hydrocarbons, the country aims to build a resilient and robust economy that can withstand external shocks and ensure long-term prosperity for its citizens.
The President’s optimistic outlook is supported by the government’s ongoing efforts to attract foreign investment, promote entrepreneurship, and foster innovation. These initiatives, coupled with Algeria’s abundant natural resources, strategic geographic location, and a young and dynamic workforce, position the country as an attractive destination for business and investment.
Furthermore, Algeria’s commitment to economic diversification is complemented by a comprehensive reform agenda aimed at improving the business environment, streamlining bureaucracy, and enhancing transparency.
