Algerian entrepreneurs to help diversify economy, minister tells World Economic Forum
- Date: 22-Oct-2020
- Source: Arab News
- Sector:Economy
- Country:Middle East
Algerian entrepreneurs to help diversify economy, minister tells World Economic Forum
DUBAI: Young innovators are helping diversify Algeria's economy away from a reliance on oil and gas, a minister told the World Economic Forum's virtual conference on Wednesday.
Despite COVID-19 challenges and a fall in new business registrations, the Algerian government is committed to promoting entrepreneurship, Yacine Oualid, Algeria's Minister of Startups at the Ministry of Micro-Enterprises, Startups and the Knowledge Economy, said.
"The startups space is a big priority for our government. We have set up a new public fund and have initiated tax exemptions as we believe that startups and small businesses can boost employment in the country after the pandemic,“ he said during a panel discussion titled "Global Jobs Outlook 2021: Scenarios for the Jobs Reset.“
Algeria's unemployment rate was 11 percent at the end of 2019, but the minister expects the
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