ALGIERS, — The People’s National Assembly, the lower House of the Algerian Parliament, has approved a Bill on promotion of investment.

Monday’s session, chaired by Speaker Mohamed Larbi Ould Khelifa, in the presence of Industry and Mining Minister Abdessalem Bouchouareb, adopted the 37 amendments to the Bill proposed by the committee of economic, development, industry, trade and planning affairs of the Assembly.

Bouchouareb said the Bill was an important step forward as part of the reforms launched by his department in the last two years, and underlined that the ministry had started preparing implementation measures relating to the Bill to promulgate them before the end of the year after the Bill is adopted by Parliament’s upper house.

The Bill aims at establishing a stable, transparent and coherent legislative system guaranteeing the effectiveness on the ground to achieve the government’s objectives under its five-year development plan for the 2014-2019 period.

He added that two Bills would be presented soon to the Parliament relating to the promotion of small and medium enterprises (SMEs) and standardization, respectively.

The Bill adopted Monday is part of the new phase of economic reforms under the policy of diversification of the economy adopted by the government.

Source: Name News Network

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