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In a speech on the occasion of the official opening of Global Entrepreneurship Week in Algeria, read on his behalf by the Minister of Knowledge Economy, Start-ups and Micro-enterprises, Yacine Oualid, during a meeting organized at the Palace of Nations (Algiers), the President of the Republic considered that the participation of all these young people “demonstrates our youth's confidence in the sincere and pragmatic political will to support the world of entrepreneurship and start-ups, in order to meet the new economic challenges that must be addressed to win the bet of transitioning to a knowledge economy.”

To achieve this, “a regulatory and legal framework ensuring an incentivizing and stable environment has been put in place, resulting, after a short experience, in the emergence of more than 2,000 companies holding the start-up label out of 8,000 registered start-ups,” added the President of the Republic.

In this respect, President Tebboune recalled the creation of the first start-up public fund, which is “the first mechanism of its kind on the African continent, providing public support to promising projects, which reflects our will to develop national competencies and encourage investment in the private sector through significant and unprecedented incentives.”

Self-entrepreneurship has a “promising future,” he said, noting the enthusiasm it generates and its expansion, particularly since the promulgation of the law establishing the status of self-entrepreneur, which allows young people to register online without having to travel, and access benefits including social security, tax advantages, and simplified accounting procedures.

This new system has proven “highly successful,” with more than 20,000 self-entrepreneurs obtaining their cards just months after its launch, noted the President of the Republic, stating that a few years after comprehensive reforms in the micro-enterprise sector and the adoption of a new approach that gradually breaks with the culture of reliance on rent, which proved ineffective in the past, Algeria has become “a model in terms of the ability to transform ideas into reality, in an environment conducive to entrepreneurship.”

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