Mining sector's turnover to double in 2 years

The turnover of the mining sector in Algeria will double in the next two years to reach DZD 40 billion through various development plans initiated by the government, minister of Industry and mining, Abdessalam Bouchouareb said Sunday in Algiers.
"Thanks to the development plans launched in recent months and those which will be set up by the end of the year, we expect to reach a turnover of DZD 40 billion for the mining sector, .i.e. the double of the previous turnovers," Bouchouareb said on the radio.
The minister also noted the interest shown by many foreign investors in the mining and industry sectors.
He announced, without giving details, the arrival in a few weeks, of several foreign delegations including Americans, Italians and British.
In terms of industry, the Minister said "the government eradicated in the new investment code, all unproductive characters and the obstacles to the creation and development of productive activities."
"The new investment code is currently being studied by the government. I hope it will be ready by the end of the year," he added.
In addition, Bouchoureb recalled the maintenance of the 51/49%, rule governing foreign investment in Algeria, adding that "it will be strengthened and expanded to other areas."
Source: APS