News

Fathi Al-Sayeh

Amr Fattouh, Vice-Chairman of the Industry and Scientific Research Committee of the Egyptian Businessmen Association, said that the state’s support for the industrial and agricultural sectors by about 150 billion pounds annually will have a positive effect. Positive and rapid at the level of availability of commodities, market stability and prices, in addition to increasing production and export rates.

Fattouh added that the initiative is a glimmer of hope and a response to one of the most important demands of the Industry Committee of the Egyptian Businessmen Association to support the continuation of the production wheel in Egypt, as it represents A lifeline for small and medium industrial companies to overcome the industrial and agricultural sectors of the current global economic conditions and challenges, as they contribute to providing financing opportunities for a huge production base of companies with a fixed 11% interest for a period of 5 years in order to finance working capital from raw materials and production requirements in addition to commodities Capitalism for production lines, machines, and machines.

He indicated that the cabinet’s approval of the initiative, after a joint study and meetings between Dr. Mohamed Moait, Minister of Finance, the Egyptian Businessmen Association, the Federation of Industries, and investor associations, created a state of satisfaction among manufacturers and youth Sun There is evidence among the business community that demonstrates the importance of the political leadership’s keenness to direct the government to expand partnership with the private sector, listen to the voice of industrialists, and remove obstacles facing local investment in reassuring investors and providing opportunities for growth and external competition.

Fattouh praised the efforts The efforts made by Dr. Mohamed Moait, Minister of Finance, and his adoption of the view of the Egyptian Businessmen Association in the need to expedite finding financing alternatives and an appropriate mechanism to support interest rates for various productive companies and expand the base of beneficiaries. Egyptian businessmen, the need for the state to continue to provide all support to the national industry at the current stage by raising other burdens in taxes and customs, in order to enhance competition in foreign markets and provide hard currency, calling for exempting production lines from customs and taxes within the framework of a strategy to convert any importer into a factory.

Fattouh indicated the importance of prioritizing a list of industries for foreign commodities that are not manufactured in Egypt and giving them all incentives and privileges for investment to localize them locally through export priority. The attached licenses and industrial lands were quickly removed from all forms of bureaucracy.

Amr Fattouh, Vice-Chairman of the Industry and Scientific Research Committee of the Egyptian Businessmen Association, said that the state’s support for the industrial and agricultural sectors is about 150 One billion pounds annually will have a positive and rapid return on the level of availability of commodities, market stability and prices, in addition to increasing production and export rates. The continuation of the production wheel in Egypt, as it represents the lifeline for small and medium industrial companies to overcome the industrial and agricultural sectors of the current global economic conditions and challenges, as it contributes to providing financing opportunities for a huge production base of companies with a fixed interest of 11% for a period of 5 years for the purpose of financing capital The worker consists of raw materials and production requirements, in addition to capital goods for production lines, machines and machines.

He indicated that the Council of Ministers approved the initiative, after a joint study and meetings between Dr. Mohamed Maait, Minister of Finance, the Egyptian Businessmen Association and the Egyptian Federation Investor organizations and associations, creating a state of satisfaction among manufacturers and industrial youth, and among the business community, which demonstrates the importance of the political leadership’s keenness to direct the government to expand partnership with the private sector, listen to the voice of industrialists, and remove obstacles facing local investment in reassuring investors and providing opportunities for growth and external competition.

Fattouh praised the efforts made by Dr. Mohamed Moait, Minister of Finance, and his adoption of the view of the Egyptian Businessmen Association in the need to expedite finding financing alternatives and an appropriate mechanism to support interest rates for various production companies and expand the base of beneficiaries.

The Vice-Chairman of the Industry and Scientific Research Committee of the Egyptian Businessmen Association stressed the need for the state to continue to provide all support for the national industry at the current stage by raising other burdens in taxes and customs in a way that enhances competition in foreign markets and provides hard currency, calling for exempting production lines from tax. Customs and taxes within the framework of a strategy to convert any importer into a factory. There are incentives and privileges for investment to localize it locally through the priority of issuing licenses and attached industrial lands quickly, away from all forms of bureaucracy.