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Mr. Said Boukabes has suggested the establishment of investments department directly adjoined to the republic presidency, its role is to control and follow the achievement of the investments’ projects besides bringing more investments in all economic sectors. As concerns the building sector, the financial envelopes devoted by the State are “colossal sums” but they don’t effectively reflect the reality of the buildings in Algeria, these buildings are characterized by the same official to be “bad” as they don’t match the high-ranking criteria and not in line with the Algerian Society’s nature as far as they lack of public necessary utilities and cultural annexes such as cinemas, mosques, libraries and cultural clubs in addition to the serious lack of airing spaces between the buildings. From another side, the same responsible affirmed that the majority of Algerian people do not own the contracts of ownership which bereave them from getting authorization to build freely which is really a serious problem. He further carried out that it is a huge loss for the State if the real-estate problem is not be settled for the Algerian authorities could not collect the real price of lands without solving the problem of contracts. These latter constitute other obstacles before the banks that could not grant the land’s owners appropriate loans. In this context, Mr. Said Boukabes has claimed to develop the banking system which remains far from international criteria describing the Algerian banks to be mere “boxes”. | ||||||||||||||||||
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Algeria loses over 20 billion dollars of investments for Tunisian and Morocco