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Algeria’s commitment to make Africa a leading economic force on the international scene was underlined by the Minister of the Economy of Knowledge, start-ups and micro-enterprises, Noureddine Ouadah, in Yokohama in Japan, during the work of the International Conference of Tokyo on the development of Africa (Ticad 2025), which also exposed the experience of Algeria which made the country the third African economy.
The Minister, who participated as a representative of the President of the Republic, Abdelmadjid Tebboune, in the work of the Tokyo International Conference on the development of Africa, spoke during the session devoted to economic issues. He underlined “the firm commitment of Algeria in favor of continental integration and the strengthening of the place of Africa as a leading economic force on the international scene, through investment in promising energies and the anchoring of the values of solidarity, unity and strategic complementarity”.
The Minister also exposed Algerian experience in the development process, recalling that “the national economy has experienced sustained growth thanks to deep structural reforms and an ambitious policy of strengthening national production and diversification of exports outside hydrocarbons, which allowed Algeria to become the third African economy”. According to him, the Algerian model “is distinguished by economic independence and an absence of external debt”.
As part of international cooperation, Ouadah stressed that “Algeria is working to strengthen strategic partnerships with Japan and other Asian countries, especially in the fields of technology, processing industry, renewable energies and the transfer of expertise in innovation and modern management, taking into account African development priorities”.
Priority to economic transformation
The Minister of the Economy of Knowledge, start-ups and micro-enterprises has also returned to the economic situation of the African continent, according to which, he “crosses a decisive step in his economic and development process”, which requires to place economic transformation at the heart of priorities. To do this, the Minister stressed the need to work on four essential axes. It is innovation and technology, “real levers” of development, in particular through digital transformation and artificial intelligence, he explained, highlighting the key role of African start-ups in the creation of wealth and employment.
The second axis concerns foreign direct investments (FDI), “essential to stimulate growth in Africa”, especially in the fields of infrastructure, renewable energies and the processing industry, continued the Minister, insisting on the need for these investments to “take into account local priorities” and to “respect environmental and social standards”.
Regarding natural resources, Ouadah pleaded for “rational and fair” management of the latter, associated with the diversification of the economic base, as a prerequisite for the realization of sustainable development and the consolidation of stability. “Excessive dependence on natural resources has made African economies vulnerable to fluctuations and crises,” he noted.
The fourth point concerns human capital, on which it is necessary to focus efforts, stressing the African potential in the matter, according to the Minister who recalled the importance of the Tokyo summit as a “strategic framework” of dialogue and “effective mechanism” of support for cooperation, on the basis of solidarity, respect and mutual interests.
Organized in partnership between the African Union, Japan, the United Nations Development Program (UNDP) and the World Bank, the TICAD 2025 brings together representatives of 55 African countries, in addition to the Japanese authorities and representatives of international organizations.