By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Minister of Environment, UNODC discuss cooperation in combating environmental crimes
    Minister of Environment, UNODC discuss cooperation in combating environmental crimes
    March 29, 2023
    Cabinet approves Egypt's 2023/24 budget
    Cabinet approves Egypt’s 2023/24 budget
    March 29, 2023
    CBE to decide fate of EGP interest rate amid strong expectations of new rise
    CBE to decide fate of EGP interest rate amid strong expectations of new rise
    March 29, 2023
    EU countries agree to ban new CO2-emitting cars from 2035
    EU countries agree to ban new CO2-emitting cars from 2035
    March 29, 2023
    Lebanese cut back on car use amid steep increase in fuel prices
    Lebanese cut back on car use amid steep increase in fuel prices
    March 29, 2023
  • Politics
    PoliticsShow More
    UAE President appoints Khaled bin Mohamed bin Zayed as Crown Prince of Abu Dhabi
    UAE President appoints Khaled bin Mohamed bin Zayed as Crown Prince of Abu Dhabi
    March 29, 2023
    Al-Sisi directs development of imams to keep abreast of contemporary issues
    Al-Sisi directs development of imams to keep abreast of contemporary issues
    March 29, 2023
    Egyptian Health Minister directs accelerating completion of New Heart Institute in El-Shorouk 
    Egyptian Health Minister directs accelerating completion of New Heart Institute in El-Shorouk 
    March 29, 2023
    Opinion| 20 years after the US invaded Iraq: Did Washington lose trillions of dollars in the war?
    Opinion| 20 years after the US invaded Iraq: Did Washington lose trillions of dollars in the war?
    March 29, 2023
    Opinion| The Russian-Chinese summit and the new multilateral world
    Opinion| The Russian-Chinese summit and the new multilateral world
    March 29, 2023
  • Interviews
    InterviewsShow More
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    March 27, 2023
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Egypt seeks to be listed among the top 30 countries in economic, social development: Trade and Industry Minister
Share
Notification
Latest News
UAE President appoints Khaled bin Mohamed bin Zayed as Crown Prince of Abu Dhabi
UAE President appoints Khaled bin Mohamed bin Zayed as Crown Prince of Abu Dhabi
Politics Breaking News
Al-Sisi directs development of imams to keep abreast of contemporary issues
Al-Sisi directs development of imams to keep abreast of contemporary issues
Politics Egypt
Minister of Environment, UNODC discuss cooperation in combating environmental crimes
Minister of Environment, UNODC discuss cooperation in combating environmental crimes
Business
Cabinet approves Egypt's 2023/24 budget
Cabinet approves Egypt’s 2023/24 budget
Business
CBE to decide fate of EGP interest rate amid strong expectations of new rise
CBE to decide fate of EGP interest rate amid strong expectations of new rise
Banking
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Egypt seeks to be listed among the top 30 countries in economic, social development: Trade and Industry Minister
Business

Egypt seeks to be listed among the top 30 countries in economic, social development: Trade and Industry Minister

Shaimaa Al-Aees
Last updated: 2016/10/25 at 4:54 PM
By Shaimaa Al-Aees 3 Min Read
Share
SHARE

Minister of Trade and Industry Tarek Kabil said that the government is placing a great deal of effort to achieve economic reforms through the creation of a comprehensive development strategies that it believes will place Egypt among the top 30 countries in fields of economic and social development.

In his speech on Monday to a delegation of American officials and people in business at the American Chamber of Commerce in Egypt, Kabil acknowledged that though Egypt’s economy is facing some challenges, the nation’s GDP has achieved a growth rate of 4.2%.

Kabil noted that the government targets a 6% growth in GDP next year, increasing investments by 19%, and reducing the fiscal deficit to 8.5% by the end of the fiscal year (FY) of 2018/2019.

Kabil pointed out that the ministry will soon announce an industrial development strategy based on the integration and development of a number of key sectors such as engineering industries, automotive and construction materials, as well as small and medium-sized enterprises (SME). It also plans to provide technical support and programmes to the aforementioned sectors.

“The ministry is planning the establishment of 10 industrial complexes to be developed with the latest technological systems and standards. The ministry has been able to complete the first phase of Al Robeiki Leather City Project in Badr City after it was delayed for 13 years. The project will be inaugurated after a year of construction,” Kabil said. “Egyptian exports have witnessed an increase of $1bn over the first 9 months of 2016, as imports have declined by $7bn during the same period,” he continued.

Along with the announcement of that trade deficit had decreased to $8bn, the minister added that the African market represents one of the most important markets to increase Egyptian exports. In this regard, the ministry launched an Egyptian logistics centre in Kenya, which serves to facilitate shipping between the two nations.

The minister declared that there were tremendous opportunities that American exporters and investors could benefit from including the huge size of Egypt’s domestic market and its access to other markets and nations. He highlighted that Egypt’s participation in major economic blocs allow it to make large-scale trade agreements and collaborate with an even greater number of countries worldwide.

According to the minister Egypt has access to 1.6 billion consumers around the world made possible by its participation in free trade agreements.

You Might Also Like

Minister of Environment, UNODC discuss cooperation in combating environmental crimes

Cabinet approves Egypt’s 2023/24 budget

CBE to decide fate of EGP interest rate amid strong expectations of new rise

EU countries agree to ban new CO2-emitting cars from 2035

Lebanese cut back on car use amid steep increase in fuel prices

TAGGED: Al Robeiki Leather City, American chamber of commerce, GDP, Minister of Trade and Industry, Tarek Kabil
Share this Article
Facebook Twitter Email Print
Previous Article Security leadership reforms in Ismailia are part of police code of ‘reward and punishment’: media office
Next Article My dismissal was a violation: Geneina in front of the court
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

UAE President appoints Khaled bin Mohamed bin Zayed as Crown Prince of Abu Dhabi
UAE President appoints Khaled bin Mohamed bin Zayed as Crown Prince of Abu Dhabi
Politics Breaking News
Al-Sisi directs development of imams to keep abreast of contemporary issues
Al-Sisi directs development of imams to keep abreast of contemporary issues
Politics Egypt
Minister of Environment, UNODC discuss cooperation in combating environmental crimes
Minister of Environment, UNODC discuss cooperation in combating environmental crimes
Business
Cabinet approves Egypt's 2023/24 budget
Cabinet approves Egypt’s 2023/24 budget
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?