Minister of Trade and Industry Tarek Kabil said that total investments in the food industry in 2017 amounted to EGP 500bn and are expected to increase by 2018 by 1%. Egypt’s exports in January 2018 increased by 16% compared to the same month last year.
“In the past, we only gave 700 licenses a year, before the Industrial Licensing and Reforms Act of the ministry and before the industrial development strategy within the vision of the Ministry of Trade and Industry 2020; however, this year, we gave 3,000 licenses,” he said.
The total value of Egypt’s exports during the first 10 months of 2017 amounted to $21.1bn compared to $17.856bn in the same period of the previous year (January-October 2016), marking an increase of $3.236bn.
According to the latest bulletin of the Central Agency for Public Mobilisation and Statistics (CAPMAS) on the volume of foreign trade in Egypt during the period from January to October 2017, the value of oil exports amounted to $1.969bn, compared with $1.609bn during the same period of 2016, marking an increase of $0.36bn.