Mounir Fakhri Extends Current Export Support Program for 3 Months

Trade and Industry Minister Mounir Fakhri Abdel-Nour has decided to extend the current export support program for three months as of July 1.

New mechanisms will be in place as of October 1, Abdel-Nour told an expanded meeting of the Egyptian Federation of Investor Associations. The new support program focuses on the economic value added (EVA), opening new markets, transferring technology and creating jobs, the minister said.

The meeting tackled a roadmap to support the Egyptian economy and face challenges that hinder development.

Abdel-Nour said that the economic group at the Cabinet is keen on easing all obstacles and creating an investment-friendly climate for Egypt to be able to regain its leading role at the regional and international levels.

Africa and the Arab world are a top priority, the minister noted. He said his ministry is currently working on an integrated industrial map that will determine investment opportunities in all governorates and industrial zones.Abdel-Nour said he is also coordinating with the General Authority for Investments and Free Zones to introduce the one-stop-shop system meant to end red tape problems.