Algeria’s Minister of Industry and Pharmaceutical Production Ali Aoun announced that the industrial sector intends to contribute 10% to the Gross Domestic Product (GDP) by the year 2027, compared to the current contribution estimated at 4.1%.
During his speech at the forum of the Algerian newspaper El Moudjahid, Aoun elaborated that the local industry aspires to significantly boost its contribution to the country’s gross domestic product through various sectors, notably automotive, cement, pharmaceuticals, and transformational industries, especially the food industry.
He emphasized that both the automotive and pharmaceutical industries, being “demand-driven markets,” are poised to attract both local and foreign investment.
Aoun highlighted that the progress achieved in various industrial fields is attributed to the adoption of a roadmap aimed at developing high-potential areas and strengthening the value chain in various sectors such as food industries, iron and steel, chemicals, mechanical industries, textile, construction materials, and pharmaceuticals.
Algeria has long sought to diversify its economy away from reliance on hydrocarbons by promoting industrialization.
The government’s industrial strategy aims to reduce dependency on oil and gas revenues and create job opportunities by developing the manufacturing sector.
By increasing the contribution of industry to the GDP, Algeria aims to achieve sustainable economic growth and reduce its vulnerability to fluctuations in oil prices.
