Member of the Egyptian Junior Business Association and chairperson of Imam Group for Metal Industries Karim Imam said that the manufacture of woodworking tools is one of the main pillars most industrial projects depend on, besides construction and building works.
Imam added that woodworking is an industry in which Egypt can have competitive advantages to export in light of the availability of their raw material locally.
“Benefiting from these advantages depends on solving problems facing factories, foremost of which is the dumping of imported products onto the local market whose prices are lower than the local product, as well as the decrease in factory sales in light of the lack of optimal marketing,” he said.
Imam pointed out that the industry may seem simple to those who don’t work in it, but that its investments match any other large industries as it deals with products including hours and trains.
He said that Egypt is a promising market in the manufacture of woodworking tools, due to the great surge in construction and mega real estate projects the state is currently going through, as well as new industrial projects.
Problems facing woodworking tools industry are high prices of raw materials, excessive taxes, and dumping imported products into the local market, he elaborated, noting that factories can overcome problems they face by increasing production capacities.
He also demanded the government to support these projects, including exempting them from taxes, opening export markets or contracting with them to supply their projects instead of exposing them to losses and then closing.
He said that his factory produced in 2019 about 3,000 tonnes of woodworking tools, adding, “In 2020, we aim to produce about 3,500 to 4,000 tonnes, and we are planning to export within our expansion plan in the second half of 2020.”