Draft revision of Constitution establishes freedom of investment, economic diversification

Draft revision of Constitution establishes freedom of investment, economic diversification

Algérie Presse Service (APS) – 05 January 2016
ALGIERS-The draft revision of the Constitution establishes freedom of investment and trade, strengthens moral practices of economic governance and encourages economic diversification.
In Article 8 of the draft revision of the Basic Law, it is stated that the people set up institutions meant to “encourage diversification of economy while highlighting the country’s all natural, human and scientific potential “and “protect the national economy against any form of embezzlement or misappropriation, corruption, smuggling, abuse and illegitimate monopolizing or seizure. “
The text says in Article 170 that “the Court of Auditors is independent” and “contributes to the development of good governance and transparency in the management of public finances”.
It is responsible not only control of the State’s finances, communities and public services and “its merchant capital.”
While reaffirming, in its Article 17 that public property belongs to the local community (subsoil, mines, natural sources of energy, rail, sea and air, posts and telecommunications …), the text introduces an Article 17a which stipulates that the State “ensures the rational use of natural resources and their preservation for future generations” and “protect farmland and the hydraulic public domain.”
In addition, the draft notes in Article 37 that “freedom of investment and trade is recognized. It is exercised within the framework of the law” and “the State works to improve the business climate. It encourages, without discrimination, the vitality of enterprises in the service of national economic development.
“The State regulates the market, the law protects the rights of consumers and prevents monopoly and unfair competition,” the text stresses.
As for the tax system, the text reaffirms the equality of citizens before tax. Article 64 emphasizes that “any action to circumvent the equality of citizens and legal persons before the tax represent an infringement to the interests of the national community. It is punishable by law,” the text says, adding that” the law punishes tax evasion and capital flight.”
The text also states that “the State shall promote the construction of housing units” and it works “to facilitate the access of disadvantaged groups to housing” (Article 54a).
Addressing external trade, the text notes that this activity “comes under the jurisdiction of the State” and that the law “shall determine the conditions of exercise and control of external trade (Article 19).
Furthermore, the draft revision of the Constitution introduces an article on the National Economic and Social Council (CNES), specifies its tasks and defines it as “a framework for dialogue, consultation and proposal in the economic and social fields”, noting that the CNES “is the adviser to the government “(Article 173-8).