On September 24, 2026, Algerian Minister of Economy of Knowledge, Start-ups, and Micro-enterprises, Noureddine Ouadah, emphasized the crucial role of innovation in bolstering the competitiveness of Algerian businesses. Speaking at the opening of the first Excellence, Sustainability, and Responsibility Summit (ESG2026) in Algiers, Ouadah noted that innovation is essential for companies to adapt to the evolving national economy and ensure their long-term sustainability.
Ouadah stressed that innovation enables businesses to develop solutions, products, and operational modes that integrate environmental, social, and governance (ESG) dimensions. He called for encouraging and financing innovation to make it a part of daily business practices. The minister also highlighted the significance of good governance as a central element of ESG criteria, which contributes to strengthening respect for environmental and social requirements.
The minister advocated for new financing mechanisms that consider the environmental and social impact of projects. He emphasized the need to support innovation and scientific research to move beyond traditional financing methods, which primarily focus on economic profitability. Ouadah encouraged a shift towards approaches that also account for the impact of projects on society and the environment.
Ouadah also called for increased trust in young people, engineers, students, and university graduates. He urged financial institutions to develop adapted financing mechanisms for projects with a positive impact. The Algerian government is working to support innovation, entrepreneurship, micro-enterprises, and start-ups, while strengthening their interaction with financial institutions.
European Union Ambassador to Algeria, Diego Mellado Pascua, considered the integration of ESG criteria a strategic and economic choice that can enhance the competitiveness of Algerian businesses and the economy. He noted that incorporating these criteria into public policies and business strategies would help Algerian companies better navigate ongoing economic transformations.
Mellado Pascua also highlighted the role of ESG criteria in strengthening economic and industrial partnerships between Algeria and the European Union. He suggested that Algerian companies' adaptation to these requirements could facilitate their integration into value chains and presence on European and international markets.
Oliver Blank, Director-General of the Algerian-German Chamber of Commerce and Industry, expressed the Chamber's willingness to support Algerian businesses in adopting sustainability standards and international norms. He proposed exchanging expertise, sharing best practices, and enhancing cooperation among economic actors to facilitate this process.
Key points
- Innovation is crucial for enhancing business competitiveness and sustainability in Algeria.
- Integration of ESG criteria can strengthen Algeria's economic partnerships with the European Union.
- New financing mechanisms are needed to support innovation and projects with a positive environmental and social impact.
