Localisation of industry should be integrated process: EJB

Daily News Egypt
2 Min Read

Head of trade and Logistics Committee of the Egyptian Junior Business Association (EJB) Ali sherif Anany stressed the importance of the presidential initiative to support and localize industries, saying it is a strong and useful initiative.

Anany said that localising industries in partnership with global expertise houses and the private sector is very necessary at the present time, as it requires the participation of all agencies and institutions, in addition to the private sector, to support this initiative.

In statements, Anany noted the industrial cycle in Egypt is not complete given that most industries in Egypt use raw materials imported from abroad.

Anany pointed out that the industry in Egypt lacks integration to achieve growth and become a strong competitor in exports and reduce imports.

The EJB member pointed to a will to take care of the industry, saying it is clear that 2022 will be the year of industry.

The industrial system also needs to improve the business climate in Egypt, increase industrial efficiency, and improve the competitiveness of local products in the global market, he added.

He further said one of the most important features of the presidential initiative is increasing production, controlling inflation, providing job opportunities, and solving all the problems facing the industry for a long time, a matter which needs genuine and serious communication between all parties concerned.

He also asserted that the EJB’s trade and logistics committee is ready to participate in the initiative and cooperate with all state institutions and in taking decisions that are in the interest of the national economy as a major part of the role of the committee and the association in supporting the state.

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