Latest updates from the Algerian business ecosystem
Algeria - The services of the Ministry of Internal Trade and National Market Regulation recorded a partial commitment from traders to the duty system for the third consecutive day of the Eid al-Adha holiday, according to a statement from the ministry today, Friday.
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The head of the African Development Bank Group office in Algeria, Abdelkader Delita, confirmed that the Trans-Saharan Gas Pipeline project represents a 'major energy corridor' that will enhance energy security, regional economic integration, and continental cooperation. Read the full content on Echourouk Online.
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Audit of the source of funds and monitoring of influential Algerians and foreigners - Termination of the contractual relationship with any unidentified client. The Ministry of Finance, in a decision signed by Minister Abdel Karim Boualzerd, ordered that accountants, accounting auditors, and certified accountants be subjected to a strict control system to combat money laundering, terrorism financing, and the financing of the proliferation of weapons of mass destruction. This includes unprecedented measures requiring accounting and auditing offices to report any suspicious transaction immediately, even if it is just an incomplete attempt, with a prohibition on invoking professional secrecy before the Financial Intelligence Processing Unit. The decision imposed on accounting professionals the monitoring of political clients and influential Algerian figures.
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The Prime Minister, Aïmene Benabderrahmane, has signed a new executive decree that tightens the rules governing the display and labeling of tobacco products and their derivatives in Algeria, by mandating that health warnings cover up to 60% of the surfaces of boxes and packaging, requiring them to be clear, prominent, and non-removable, and prohibiting any marketing phrases or signals that may suggest that some products are less harmful than others. The decree includes all forms of tobacco, electronic cigarettes, and their accessories, with explicit warnings about addiction and toxic substances, and mandates the phrase 'Sale prohibited to minors' on all products. These measures contribute to enhancing public health protection and standardizing the appearance of warnings across the market, which also facilitates differentiation.
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Algeria, through the SONATRACH refinery in Italy, has opened a new page in its energy strategy linked to the European market, following the implementation of the oil and gas cooperation agreement with Azerbaijan under a presidential decree published in the latest issue of the official gazette, which includes the ratification of the memorandum of understanding signed between the two countries in September 2022. According to the decree signed by President Abdelmadjid Tebboune, it ratifies the memorandum of understanding on cooperation in the field of oil and gas between Algeria and Azerbaijan signed in Algeria in November 2022. The details of the memorandum included in the official gazette state that the agreement aims to enhance bilateral cooperation in the field of oil and gas.
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Brazzaville - The Head of the African Development Bank Group Office in Algeria, Abdelkader Delita, confirmed that the Trans-Saharan Gas Pipeline (TSGP) project represents a 'key energy corridor' that will enhance energy security, regional economic integration, and continental cooperation.
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Brazzaville - The President of the African Development Bank Group, Sidi Ould Tah, called today, Friday in Brazzaville, for a profound change in the development financing model in Africa, advocating for major projects capable of transforming the continent's resources locally and creating greater added value.
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Algeria - The Ministry of Public Works and Infrastructure confirmed today, Friday, in a statement that all human and technical resources are being mobilized to reopen the Chiffa tunnel (Blida) and the Hamdania tunnel (Medea) on the North-South highway for road users as soon as possible, following a technical malfunction.
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The Ministry of Public Works and Basic Infrastructure confirmed today, Friday, in a statement that all human and technical resources are being mobilized to reopen the Chiffa (Blida) and Hamdania (Medea) tunnels on the North-South highway for road users as soon as possible, following a technical malfunction.
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