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October investors develop fundamental solutions to increase exports and operate factories at maximum capacity

Fathi Al-Sayeh

Dr. Muhammad Khamis Shaaban, Secretary-General of the Egyptian Federation of Associations Investors and Chairman of the Sixth of October Investors Association on the ability of the Egyptian industry to eliminate all the economic crises that Egypt suffers from, especially the negative effects resulting from exchange rate fluctuations against foreign currencies.

The Chairman of the Sixth of October Investors Association suggested immediate and quick solutions within the framework of the interest that the political leadership attaches to the industrial sector and the great desire to remove all obstacles and challenges facing industrial investors in an effort to maximize national production and operate factories at their maximum capacity.

He explained, “Dr. Khamis, “The beginning of the development of a unified industrial map in Egypt begins in practice and not in theory with the need to issue quick directives to the ministers of the necessity of placing each ministry separately for all its actual needs during 276 for the coming years, for example, but not limited to, such as the needs of the Ministry of Housing for building materials and construction supplies and the need of the Ministry of Agriculture for all the requirements of agricultural production such as pumps, generators, irrigation networks, etc., as well as the needs of all ministries and state agencies, so that within a period not exceeding For 3 months, there is a strong indicator of the needs of the Egyptian state required by the industrial and national productive sector.

The President of the Sixth Investors Association explained In October, these quick steps must be followed by intensive meetings with industrial investors to develop future plans aimed at meeting the needs of the Egyptian state from its factories and national production before thinking about importing from abroad, with the application of all laws and procedures that have long been recommended by the political leadership that the local product should be preferred over imported products. .

In addition to placing a line It aims for each factory to export a percentage not less than the percentage of the foreign component in its products that has been imported so that each company is an independent unit that supports itself in managing foreign currency from its exports, saying, “If a factory imports

% of its production components must be exported not less than 276 % of its production.

The Secretary-General of the Egyptian Federation of Investors Associations confirmed that the implementation of these solutions may bring the gross domestic product of the national industry to a trillion dollars in Less than 5 years, and it is the dream of the political leadership that Egypt will become a great industrial country.

Shaaban suggested that specialized committees should be formed from all The ministries concerned with every commodity that is imported from abroad to determine its specifications and measure the extent to which it is necessary to import it in times of crisis and whether it is recreational goods that can be dispensed with, indicating that there are many non-essential goods that Egypt can provide dollars to import from abroad during specific times, such as mobiles, watches, glasses and tools Make-up and some chocolate, cheese and biscuits until the foreign currency is provided A prophet who leaves Egypt during periods of scarcity of hard currency.