Nov 13 2012 | more articles from Zawya |
Algeria earmarks USD250m to build 270 retail stores
By Imen KimoucheThe Algerian government will spend USD 250 million on new retail department stores before the end of 2013, and local contracting companies will be assigned the projects, an official told Zawya.
"Algeria will announce a tender to pick a national company next month for the 270-store project; 30 of which will be retail stores and 240 will be for wholesale," said Abdul Aziz Ayt Abdurrahman, a senior official in the ministry of commerce.
"Local contracting companies will carry out the project through national tenders, particularly after the government removed the scattered marts inside the largest cities," said Abdurrahman, noting that the government will award licenses to foreign businessmen interested in building stores and marts like those in GCC countries.
"Algeria needs 1,500 marts and stores; this shortage of outlets usually leads to a surge in prices of foodstuff and consumer goods," said El Hadj Taher Boulenouar, an economist and spokesperson for the General Union of Traders and Artisans.
"The government's decision will help meet the citizens' needs and quell any potential crisis in goods like the one in January 2011," Boulenouar said.
© Zawya 2012