ANALYSTS SAYS EGYPT GOVT. TO INCREASE ITS EXPORT

Egypt Government ambitious plan is likely to succeed as it will increase its exports to US$100bn annually. This latest development will intensify efforts to lure foreign investments and solve problems that hinder the industrial sector.

In a meeting attended by industrial leaders chaired by Egyptian Trade and Industry Minister Nevine Gamea, a comprehensive plan was draw to help increase the export rates in different international markets, with giving much focus on Africa.

Gamea noted that the government has taken very significant procedures for increasing the government budget, raising the investment expenditure, creating an industrial environment through developing ports, roads, and industrial substructure, issuing laws of investment incentives, moves that paved the country’s legislative structure to attract the investment and promote the exports.

During the meeting, Econonic Experts said the US$100bn export-plan could be fulfilled in two stages. The first stage will focus on the oil and mineral exports, which is the responsibility of the government that paid much attention to the expansion of the gas and oil sectors in the past few years by issuing the new mineral resources law, an important step to double the oil investments and its exports.

Meanwhile, the second stage of the plan will focus on the non-oil industries, which requires better collaboration between the government and the investors so the latter could bear more responsibility towards increasing the exports.

Read full report on Daily News Egypt

Click on the floating icon on the right to subscribe. More so, please share, Follow us on Twitter and don’t forget to also like us on Facebook