PM Follows Up on Procedures of Localizing Industry, Production RequirmentsSource: www.export-egypt.com 7/10/2023, Location: Africa |
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Prime Minister Moustafa Madbouli said the state has introduced a set of unprecedented incentives meant to localize multiple strategic industries, in order to secure the availability of high-demand products.
Up to 152 investment opportunities in the industrial sector have been outlined with the aim of undergoing development and localization, the premier said. This came at a meeting held at the new premises of the Cabinet at New Alamein city, in the presence of Minister of Trade and Industry Ahmed Samir and Chairman of Federation of Egyptian Industries (FEI) Mohammed el Sewedy. "As many as 152 investment opportunities have been sent to the FEI, the Egyptian Federation of Investors Associations (EFIA) and the General Authority For Investments (GAFI), in order to promote these opportunities," said trade minister Samir. The premier instructed immediate coordination between the Trade Ministry and the FEI to kick start the implementation of the first stage of localization process of the 152 industrial products, with a view to swiftly ensure their availability. He stressed readiness of the government to provide all needed incentives in this regard. Madbouli, meanwhile, urged service ministries to determine their annual needs of products essential for carrying out projects throughout the five upcoming years, in order to guarantee the localization of their manufacturing. |
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