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DEI – Algeria: Privatisation plan to revitalise the economy

Algeria has announced a new industrial plan to revitalise the economy, leading to the gradual privatisation of state-run companies. The Ministry for Industry, Abdeslam Bouchouareb, explained that the government will rationalise its holdings to improve production results by creationing “national champions” that will also encourage inward investment. Most notably, 15 Sociétés de Gestion des Participations, companies that control, on behalf of the state, its holdings in public companies, will be transformed into 12 sector-based industrial groups. As the Minister pointed out, the 2 key points of the reform will be the complete autonomy of the new groups and their ability to turn to the markets to obtain the necessary funding to increase production. More economic news, in Italian, from Romania.