Daily News Egypt

New vision to increase industrial growth rate by 1.5% annually: Qabil - Daily News Egypt

Advertising Area

Advertising Area

New vision to increase industrial growth rate by 1.5% annually: Qabil

Progress evaluation will be conducted on monthly basis, says minister

The Ministry of Foreign Trade and Industry is preparing a five-year strategy targeting 1.5% in annual industrial growth, Minister of Foreign Trade and Industry Tarek Qabil said in official statements, Saturday.

Qabil said that the strategy seeks to lessen the trade deficit and increase the foreign income resources. The plan will also include means to attract foreign direct investment (FDI) and offer new job opportunities for youth.

Specific indicators will be used to measure the progress of this plan and the evaluation of the set accomplishments will occur on a monthly basis, the minister noted.

On 22 September, Governor of the Central Bank of Egypt (CBE) Hisham Ramez sat down with Head of the Federation of Egyptian Industries (FEI) Mohamed El-Sewedy, and FEI Vice Chairman Tarek Tawfik, to discuss possible solutions for the difficulties faced by industries.

The trio discussed, amongst other obstacles, the shortage of foreign currency and the delayed credit, as well as the unavailability of production inputs and capital based products needed for factories to continue their operation.


Advertising Area

Advertising Area

Breaking News

No current breaking news

Subscribe to the Newsletter List Subscribe by clicking on the Subscribe
Daily News Egypt Android App Available for free download on Google play
Daily News Egypt Ios App Available for free download on APP Store