Algeria's Minister of Industry, Ferhat Aït Ali Braham, has stated that the country's plans to import vehicles under three years old have been put on hold but not cancelled. The decision was made to allow for the implementation of financial and economic reforms. The minister made the announcement on Sunday in Algiers, during an interview with the national radio. He emphasized that the goal is to enable citizens to purchase vehicles at reasonable prices based on the official exchange rate.
The minister clarified that the decision only affects the article in the 2020 finance law that allowed for the importation of vehicles under three years old. The government is studying the possibility of resuming the operation in the medium term, once the necessary reforms are in place. Aït Ali Braham also warned that organized networks are ready to import scrap metal into the country, which could negatively impact the local market.
The minister expressed confidence in Algeria's potential to boost its automotive industry, stating that it is a priority for the country. He revealed that he recently met with representatives from the German automaker Volkswagen, who expressed interest in implementing an industrial project in Algeria. The project would involve a 30% integration rate, in line with the new conditions imposed by the Algerian government.
Aït Ali Braham also discussed the new investment law, which aims to promote transparency and provide more powers to the National Agency for Investment Development (ANDI). He stated that advantages and exemptions will be subject to a specific scale, and that the examination of investor dossiers will be done in a transparent manner.
The minister highlighted the importance of the automotive sector, stating that it has the potential to generate wealth and create jobs. He emphasized that the government is committed to supporting the sector and providing the necessary incentives to attract investment.
Regarding the market for new vehicles, Aït Ali Braham stated that it will be open to all brands, and that importation will depend on the conformity of operator dossiers with the new specifications. He noted that the deadline for submitting dossiers has not yet expired, and that the government is working to create a favorable environment for investment in the sector.
The minister concluded by stating that his department has made several proposals for the 2021 finance law, aimed at strengthening the industry sector in Algeria, including manufacturing and wealth-generating industries. He emphasized that the government is committed to promoting economic growth and development through industrialization.
Key points
- The Algerian government has put on hold plans to import vehicles under three years old, but has not cancelled them.
- The country's automotive industry has the potential to generate wealth and create jobs.
- The government is working to create a favorable environment for investment in the sector.
