EXECUTIVE SUMMARY in Algeria. Opening up the Algerian economy requires acceleration of priority reforms to encourage private investment, diversify the economy to make it less dependent on the oil and gas sector, and create employment. 3.38 To achieve these aims, the authorities have adopted international standards and undertaken structural reforms to create an effective environment and framework and to promote economic growth and sustainable development. These reforms are consistent with the liberal transition, highlighting the role expected of private enterprise in the new Algerian economic arena, through partnership between the state and this sector to overcome certain constraints facing the country, namely: (i) to accelerate structural reforms to ensure better integration of Algeria into the world economy; (ii) to promote a healthy business environment by ensuring that Algeria puts theory into practice; (iii) to groom a generation of more successful private economic actors who embrace the values of ethics and probity in business; and (iv) to promote better entrepreneurship and awareness of responsibilities among corporate leaders. 3.39 It was by studying these constraints and the challenges they pose, that the CRM in evaluating corporate governance in Algerian corporations analysed changes in this governance, as presented in the CSAR. Few people are in a better position to articulate the problems surrounding this difficult transition than the President of the CNES who, on the subject of privatisation, stated that “the state is dragging its feet instead of leaving the areas it should leave to move to the strategic areas where it should be”. 3.40 With regard to the implementation of standards and codes, the CRM noted that the government had signed and ratified an impressive number of international standards. Although measures are being taken to implement these, the progress achieved so far is insufficient both in terms of quality and quantity. In the area of banking supervision, the country is completely, or almost completely, compliant with the international principles that govern standards and codes. Few corporations have adopted ISO 9000 and ISO 14001 standards. 3.41 In terms of promoting an enabling environment and an effective regulatory framework for economic activities, the CRM was impressed by the numerous initiatives the government undertook to improve the business environment, as well as the mechanisms established to protect the environment and to provide financial assistance to young entrepreneurs, such as the National Agency for Supporting the Employment of Young People (ANSEJ). The CRM recognised the numerous reforms of the financial and banking system the government adopted to facilitate credit availability for corporations, especially small and medium-sized enterprises (SMEs), and its desire to help corporations upgrade themselves and adopt international codes and standards to improve their competitiveness. The CRM, however, disapproves of the delays in implementing the numerous reforms enacted into law by the government to facilitate access to land. 3.42 In the matter of ensuring that corporations act as good corporate citizens with regard to human rights, social responsibility and environmental sustainability, 15