President Abdel-Fattah Al-Sisi stated that Egypt is paying great attention to the industrial sector and is working to facilitate procedures for investment requirements.
“We have insisted to develop specific areas and prepare and provide these regions with exclusive requirements from all different parties. Accordingly, investors and manufacturers can invest and will not be delayed by administrative procedures,” he said.
The president’s remarks came on Tuesday in an event in which he opened a number of projects by the General Authority for Investment and Free Zones (GAFI). He highlighted that the state is working to facilitate all obstacles and difficulties facing this sector and is facilitating procedures for obtaining necessary licenses for operations.
Al-Sisi also stressed that work will be carried out in certain areas and that they will be given exclusive approvals to enable investors to work quickly there.
“When investors face problems, it is not a defect in the government or the state, but we have to confront and solve it, so that there is no problem that hinders investment,” president said.
“Each project brings in additional income, not just for the company, but for everyone who works in the project.”
Furthermore, he pointed out that the state is keen to implement one-stop shops and issue approvals in less than 20 days, adding that the size of the private sector in Egypt is up to 75%.
“We are very serious about solving investors’ issues, including production requirements,” Al-Sisi affirmed.
He also asserted that problems with importing production supplies would be resolved within a month or two at the most.
Additionally, he said that there is still much work to be done and that “achieving $100bn in exports is not a large number, especially for a country with a population of 104 million.”
Finally, he emphasised that the state is doing its best to mitigate the persisting effects of the coronavirus pandemic and the Russian-Ukrainian War.