Algeria: 286 billion dollars for the five-year public investment’s plan 2010-2014 |
During the Council of Ministers’ meeting, chaired by Head of State on May 24th, 2010, the public investment program for 2010-2014, with a budget of 286 billion dollars was approved. His Excellency President Abdelaziz Bouteflika, in his speech at the meeting said that the launch of this five-year program aims to maintain the momentum of national reconstruction initiated for ten years. This new five-year plan targets the completion of major projects including railways, roads and water (130 billion dollars), and also concerns the financing of new projects worth 156 billion dollars. The plan expects the construction of 1.2 million housing unit, the implementation of 35 dams and 25 water transfer systems. Over 40% of the new plan amount will be dedicated to the construction of nearly 5,000 institutions of National Education, 600,000 university seats, and more than 300 vocational training institutions. Algeria is planning to build more than 1,500 health unit (172 hospitals, 45 specialized health centers, 377 clinics and 70 specialized units for persons with disabilities) and plans to build 80 soccer stadiums, 160 sport centers, 400 swimming pools and over 200 youth hostels. The President of the Republic seized the opportunity to emphasize that it behooves us to make another quality move forward, by continuing, of course, social development and modernization of infrastructure, but more rewarding productive capacity and our economic potential. “To this end, we will add, starting this year, to all the incentives already in place to encourage investment, an important support to the upgrading of small and medium enterprises (SMEs). We also expand the programs of modernization of public enterprises to all those who still have a local market, by mobilizing to their sides also foreign partners who wish to benefit from local market and contracts related to public investment program" the President of the Republic said. Ottawa, May 26th, 2010 |