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Algeria temporarily freezes creation of industrial areas
Algeria, Economics, 9/3/1998
The Algerian government decided to temporarily freeze the creation of any industrial areas and economic and trade activity areas in order to focus on healing the situation of existing ones.
An official report cites constraints linked to the absence of a coherent and global vision and the inadequacy of the legal texts regulating the real estate of the 72 existing industrial areas extending over 15,000 hectares and the 147 economic and trade areas.
The measures planned include the allocation by the 1999 budget of a 230 million dinar credit to benefit some industrial areas to be identified later.
Other moves also aim at adopting economic management of those areas that will be ceded, according to cases, to economic operators, a state or private institution or chambers of commerce and industry.
Previous Stories:
New investment projects in Algeria
(8/6/1998)
African Bank for Development has granted the Algerian national company $144.5 million
(7/13/1998)
Algeria to privatize 1,000 corporations before year's end
(7/6/1998)
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